I'm planning submitting an offer on my first property. What factors do others use to decide on what to offer.
Background on the deal:
Duplex, asking price is 149,900
The market is overcrowded. Each side street literally has multiple houses for sale. I'm not too concerned with the current market because I plan on living in one unit, and renting the other unit. When I grow out of the residence, I will keep the property as cash flow and rent out the unit I live in making this a long term investment.
Comps range from 128k to 146k.
Also, from my initial inspection of the property, I noticed both the house roof, and the garage roof will need work. How do I factor this into my offer?
Background on the deal:
Duplex, asking price is 149,900
The market is overcrowded. Each side street literally has multiple houses for sale. I'm not too concerned with the current market because I plan on living in one unit, and renting the other unit. When I grow out of the residence, I will keep the property as cash flow and rent out the unit I live in making this a long term investment.
Comps range from 128k to 146k.
Also, from my initial inspection of the property, I noticed both the house roof, and the garage roof will need work. How do I factor this into my offer?
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.