Would You Do This Deal?

[Kyle Doney]

I have a lead in Boulder CO I've been working that I feel is too tight, but has some creative qualities to it. ARV 550K all the house needs is some paint. I offered 450K cash offer. Seller doesn't like it too much and wants 480K. I said I could do it with owner carry. She is fine with it, but wants 200K down. At that point I don't feel like its worth it. Its a rental with a lease until April bringing in 3k a month. Good tenants, well kept house. She put 50K in it a year or two ago.

How would you work this lead? Or call it a pass? 

[Kyle Doney]

@David Roque Yes

@Richard Galdieri Didn't get that far really. Assuming 5-6% would work. I wouldn't want to tie up 200K long though, and I would just end up flipping, so that why I feel like all cash is better unless the down payment is lower. Doesn't make sense to me as a rental. 

@Matt M. Agreed. Would be a tough wholesale, but maybe. I mean I mark things up pretty good lol, but thats a 91% deal.. 

@Ernesto Hernandez Agree