Bank owned 6 unit - what would you offer?

[Tony Nguyen]

Listed price is NONE. I've personally never seen that before so I want to make an offer to see how the bank responds. What would you guys offer with the numbers below?

- 6 units, 2/1 each unit
- built in 1985
- Just outside of Orlando, FL (will have very low appreciation overall, if any).
- Only 4 occupied @ $450 each
- market rent for all 6 units should be about $500 each
- actual expenses per seller $12,905
- seller financing, not available

thanks guys :cool:

[Ryan Pyle]

I'd give the roof and mechanicals a hard look. If they are original they are probably at or near the end of their useful lives. I would back the cost of those replacements out of the purchase price. Also inspect each unit and calculate any repairs they may need to make them marketable. That goes for the occupied units too.