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Updated almost 7 years ago,
a question on a deal
Hi
i am working on an offer the house is 3 family
asking price is $250K repairs will be 100k
cap rate similar homes 7-8%.. according to my calculation i came up with 10%
the rent as the sales agent says per unit $1800-2000
C class
i intend to go with hard money lender...at 65% of ARV.. -100k repairs The sales agent said, the ARV would be 400k for this particular home... some comparison homes are alittle higher 450 to 550
what do you suggest the offer on this property should be?
or is it safe to go with asking price?