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Updated over 8 years ago,
Great Deal in Manteca CA or Not??
2bd/2bt. Built in 1922. House size:950 sq ft
Lot size:3500
Comps show around 180k ARV
Owner owns home free and clear, bought it Cash for $70k 5 years ago and TOTALLY Destroyed every bit of that house in everyway and equity it could have gained.
She wants 90k. And owes 4k in back taxes. I'm new so im not an expert at evaluating cost to fix it.
I invited a local experienced investor to look at the deal so i can possibly wholesale it to him. He says it needs like 60-70k to fix and their are 2 huge energy transmitters 2 houses down which he thinks the ARV is more around 165k. We offered them 65k and they said they need 90k.
What should i do??
I dont have that type of capital im New Help me!!!
Thanks in advance