I have a property that i’m thinking about a co-worker has a rental property that he is willing to sell to me he owes the bank about $40 thousand and he is willing to take $45-50 this property is in a pretty good area. I would like to sell it myself I live in the houston- sugarland area how can i find someone instersted needs about $ 4-5 thousand worth of work.
“he owes the bank about $40 thousand . I live in the houston- sugarland area how can i find someone instersted needs about $ 4-5 thousand worth of work.”
In my humble opinion, a newbie like you further behind but learning. If the property needs about 5k in rehabbing, then why buy it for 45k, add the 5k to what you are paying, then your total for the property is 50k. Explain to your friends that it needs work done. Hope I’m not going wrong in my direction. still learning. Have u run comps to find out the value of the property?
steve