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Help! Motivated Seller Wants to Sell 8 Home "Parcel"
Hi!
I have a potential seller that is in failing health and wants to sell 8 homes that sit on about a 1/3 of an acre. All 6 are being rented right now, with 2 more on the site that are potential remodels. Rentals are bringing in $2800 per month, and the seller wants $275K for all 6 homes. I am just wondering how to figure out if this is a good deal or not, and if I should negotiate a lower price for all 6? The seller will definitely not sell each home separately. I did look up comps on what each home(1-2 bedrooms) in the area would be valued at separately and came up with about $15K each,so it looks like he is way over in price. I could really use some advice on how to structure this deal, if it is actually a deal at all. Thank You in advance!