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Updated about 10 years ago,

User Stats

84
Posts
14
Votes
Tedroy Johnson
  • Wholesaler
  • Raleigh, NC
14
Votes |
84
Posts

Mixed residential and commercial

Tedroy Johnson
  • Wholesaler
  • Raleigh, NC
Posted

Hey BP,

I have a very promising opportunity to wholesale a mixed residential and commercial  property (1 store front and 2 rental units) for a good friend of the family. I am second guessing myself  as  to whether i can pull this off because the #'s are intimidating. The property ARV $1.3 million at 65% I would be all in at $845,000, rough estimates put the repairs at 40K primarily for the 2 rental units. So that means i would have to sell at $805,000 plus my fee. Even in a HOT market such as Brooklyn, NY is there a cash buyer looking to purchase at what i consider to be a high price? Is this a deal? and also How much of a fee can i get from this deal?

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