All Forum Posts by: Jeff Lappe

Forgot to mention they didn't want to do owner financing and just want the money.

Recently purchased a duplex, living in one side and renting the other, and bought a $65K piece of equipment along with paying a sizable tax bill. Now that I've invested most of my cash I've found a deal I really would like to close on and would like to know if anyone has any suggestions or advice.

The deal is for a 3bd 1.5ba on the lake in a very popular tourist area. The home is in good shape and is a family inheritance so they just want to get cash and get out of it. I made an offer to buy at their asking price with owner financing and I checked into the possibility of using as a vacation rental for the length of the owner financing then refinancing and possibly moving into the home as my primary residence. Right now it is not listed and I believe well below market value with the Airbnb calculator estimating $45,000 income possible.

Would really like to make this happen so any advice on how to structure a deal would be great.

Really that was my rough estimate for running the analysis to see if it looked good enough to get contractors there to give me bids. Thanks again.

Thanks @Michael Mullins I was hoping someone would see what I had seen.

Thanks @Jonathan W. for the info, I will make sure to have it in the offer.

View report

*This link comes directly from our calculators, based on information input by the member who posted. New at investing and ready to take action. Want to know if this is a good deal that would get approved for hard money loan and refinanced with ok credit? Thanks for any input.

Thanks @Marc Winter for the great info. Those specifics are very helpful, hopefully there will not be any unresolvable discrepancies!

Great info to know, thank you to everyone!

I am a new pro on BP and new to REI. I am looking at my first deal on a multi-family that has existing tenants. What is done with the deposits that the current owner has collected, so that if I buy the deposit refunds aren't coming out of my pocket if a tenant moves out? Thanks for any insight!