All Forum Posts by: Antoine Belt

https://www.biggerpockets.com/users/Dudester we have a 4 unit apartment and a duplex under contract with great cap rates in good areas. DM us.

 Thank you. You are absolutely correct.

The seller is currently paying $785 but there are rentals in the area consistently renting out at $900-$1200/ mo.

@Gary wilson

Thank you for the response, just got off he phone with he seller and it's actually at 1900 sqft. How much would this change your perspective. Comps in the area for this size home is 130-155k

Wee have a two part question for you guys. 

Here's the back story...

We have the opportunity to wholesale our first house and the buyer is very motivated to sell... but here's the dilemma. The house was orginally built as a 2 bed/ 2 bath with 904 sqft. Our seller purchased the house as a 3 bed/ 2 bath with with a bonus room (the basement was finished in 2009 and ALL of the utilities were updated ). Based on what we've seen have been told by the seller, the house is around 1200-1300 sqft. He bought the house for 125k in 2009 and he is very motivated after a horrible divorce.

Question 1:

Our seller is willing to take what he owes which is around $102k. The Arv is around 117k-135k based on recent sales and the neighborhood.

Question 2:

Does a finished basement and extra rooms add significant value?

Thanks for the responses in advance!