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All Forum Posts by: Eric R

Eric R has started 2 posts and replied 2 times.

Real Estate Deal Analysis & Advice

Post: Deal or no deal???

Eric RPosted
  • Jacksonville, FL
  • Posts 9
  • Votes 0

I am looking at a quad in my area. All 2/1s with w/d connections. Building is all brick. It is currently a short sale listed at 200k. 2 units are currently rented for 700 each. The other 2 should command the same. Roof & Hvac are 3 years old. One unit could use about 5k in work. I'd estimate taxes at 3k.

My situation: Perfect credit (mid-high 700s), 11k in cash. I don't think I would qualify for conventional financing because of DTI. I own a house and condo(rented).

I'd like to make an offer on this but am concerned about funding. I know 11k is not much and would like to keep it as a reserve. Any suggestions on an offer price that a HML or private lender would work with me?

0 Votes
New Member Introductions

Post: Hello from Jax, FL.

Eric RPosted
  • Jacksonville, FL
  • Posts 9
  • Votes 0

Long time lurker on the boards here and have found them incredibly informative and many of the members extremely courteous and professional. I'm looking forward to networking with many of you and sharing ideas.

0 Votes