hello everyone,
i have located a property listed for $449k which is a duplex, 3bd 1.5 bath in each unit. near schools and on public transportation and nearby shops.
it has been on the market for approx 40 days. i just located this about 10 min ago and my mind just went blank on what to (yeah, this may be my first deal)…
can anyone please advise me on what to do next? i obviously haven’t seen it in person as yet, but i can schedule a showing…
my first thoughts were lease option but then i didn’t think i would get much cash flow since most market rents for 3bds in boston are approx $1800, but then of course doing the typical bankrate mortgage calculation if i offered ea unit at 225000 w/7% for 30 years the mortgage would be aprox 1500…hhhmmm so 1800 really wouldn’t be bad if someone were to want this option
2nd thought would be to buy it myself but then i would be totally responsible for the whole mortgage…
so, if a property is listed with a realtor…could you do a contract assignment and if so how would that work?
So, i come back to the same question…what would be best for a newbie like myself to get my feet wet while making some money??
thanks in advance