Hey everyone! hoping to get this deal fine tuned and detailed out to try and close it.
looking at 3 parcels in a row by the same owner in Renton outside of seattle area
lot one has a house that is pretty trashed, currently worth $300 to $325-needs $100k of work lot is 15,000 sq ft
second lot has a manufactured house and garage built in early 2000s also worth $300 to $350- lot is 27,000 sq ft
third lot is raw land also at 27,000 sq ft- Saw a lot half the size and on a corner up the street sold for $22k last year but I am trying to calculate the worth of this lot
Buying all three together for $650 so all of the money would end up being in the land and and I use hard money the fees would be around $36k if i can just sell the two houses as is to pay the loan off quickly.
The purchase doesn't work at much more than the $650 range and I'm trying to see what I could offer to motivate the seller to do seller financing to avoid the fees associated with hard money.
Sorry this post is so long but any insight would be greatly appreciated