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Updated over 11 years ago,

User Stats

256
Posts
64
Votes
Morris Lucas
  • Rental Property Investor
  • Atlanta, GA
64
Votes |
256
Posts

Can you tell me if this deal is worth locking upl??

Morris Lucas
  • Rental Property Investor
  • Atlanta, GA
Posted

My partner and i have an appointment with a seller tonight, but I am trying to make sure i am not wasting our nor the seller's time.

This seller and her spouse are moving to West Coast and have already began to pack, will be gone from the state, if i'm not mistaken by end of this month, which is where motivation comes from.

i have an Attorney in place who gave me an assignment contract and i would use his firm if and when deal were to close.

My RE broker i use ran comps for me and here is the details

175-200k comps(she said comps were scattered, since this is a rural area)

No major repairs needed.

Loan balance is 22k

we offered 90k, they accepted 102k.

Home is in Clarksville, Ga

Seems to be a good price to buy, but what i am worried about is that this probably would not be a good area for a RENTAL, but only a retail sale(from a cash buyer's point of view)
The areas i usually focus on are blue-collar, high-occupied, metro-line areas that are rent-able, not sure if i lock this up if it will be attractive to investors since it is way north of Atlanta metro/suburbs and in rural area.

Can anyone make any recommendations before i go to give seller the contract?

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