Property value 110k
leased at 1100m
no reapirs needed owner has done all the rehabin and out
remaining mortgage balance 70k
will not consider any terms, asking price 95k
is this a deal
i know the cash formula 70% of arv minus repairs but, does the fact of the 1100mo change anything and no repairs changee anythig
could i make an assignment fee off this or should i pass.
Or what would make this a deal if it’s not
Hi,
No this is not a deal regardless of cash flow, because ownership is permenant and the cash flow is potentially temporary at that rental rate!
GR
He’s asking all cash and essentially retail price therefore this is not a deal. The biggest determinant of seller motivation is the difference between asking price and ARV (assuming there is equity). If they have equity and will give it to you then they’re motivated. If they won’t they aren’t.
Next. This guy is in dreamland :deal
I’d pay 50K though lol
Nate-WI
no, there are a lot of ‘real deals’ out there,just forget this one,if its still on the market in a few months offer 60k (I’m more generous than gordo2417)