Need to know

General Real Estate Investing
1

Hello, I am trying to figure out how to approach a deal. It’s a 2br2bath Condo that was purchased for 220K. The seller wants only to net 20K at closing. He owes around 170k on his first and around 30k on his second. He wants to sell due to a job change. I’m going to run some comps to see what other places have been going for in the area.What can I do with this deal?

Please Help :-*

2

It all depends where the Comps come in… But I would start at 225K and have him pay your closing cost so you have very little out of pocket… (You might have to go up a little on that since his closing cost will come out of the proceeds also.

Good Luck

3

Thanks. ;D