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Prop. ARV 159,000 is located in homeowners n-hood 3 bed 1.5 baths 1500 s.f. been used as rental property for 20 years,garage been converted to extra room, outdated roof 17 years old, but in living condition, windows been changed 3 years ago.
After having it listed for 4 mo and having just one offer $80,000, owner is very motivated to sell even agree to carry finances.
Thank you Jackie for suggesting to get option to buy and try to sell to somebody quickly or master-lease and find the tenant buyer.
My questions are:1-What should be the number I offer on the Option.
2-what document I use to get it under the contract?Om master lease :
1-How do I construct my offer? I mean numbers?
2-What documents should I use to have everything done correctly?Please help. I want to get it done, it will be my first deal if owner will cooperate.
Any help will be greatly appreciated.
Lilia Russell
301-481-4994
[email protected]sounds like an older home. Is it worth $159k if it was all fixed up? or like it is?
what would it rent for? see http://www.RentOMeter.com for hints
if their only offer was for $80,000, my guess is the house needs a lot of work and that is about what it is worth in it’s present condition.
a master lease may not be the way to go
need more info before you can throw out numbers.
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