one deal two properties

[salsadunes 0]

Hi

Naked investors. Im working on a deal and would like your inputs.

One seller of two properties. 3/2 with large metal building and a 2/1 rental on the same tax lot

Then connected to the property is another 1/1 cabin on ao different tax lot. She wantes to sell both together she owns free and clear. The smaller units are rented the 3/2 she is moving out of. Comps are 160 w/out rental on big place and approximately 70k on cabin unit. She wants 215k for both. She will carry for 3years and will be moved by sept 1.

How would u structure this one?

Would a pure option work?

 

How do I secure both properties?

Thanks in advance.

Salsa

[MichaelC 160]

Salsa, if I'm following here, she is asking $215K for the properties that you figured are worth $230K. Pretty much full retail. What are you wanting to do with these? Long term rentals, move in yourself, fix and flip, etc. And what is she open to besides a traditional sale?

[salsadunes 0]

Salsa, if I'm following here, she is asking $215K for the properties that you figured are worth $230K. Pretty much full retail. What are you wanting to do with these? Long term rentals, move in yourself, fix and flip, etc. And what is she open to besides a traditional sale?

 

 

My goal is to get her below 200k. And sandwich lease it for the income. She is motivated and knows what i do as she is a referal from one of my other deals.There are renters in the two small units w/$900.00 income now. She is moving out of the big one and it will be empty. I do not want to live there. I will meet w/her on Sat to set a deal. Would like to know what you guys would do? Also, a pure option? Would that come into play?

Thanks All.

[MichaelC 160]

As for the Pure Option, you just need to lock in the lowest price for a time frame that will allow you to find a buyer willing to pay you more than you pay her. There is no lease involved, or rental income, obviously.

If you want to go the sandwich lease route, your goal should be to control that property for as long as possible without coming out of pocket any more than a month's rent or so. Negotiate your best purchase price, agree to pay her the $900/mo she is receiving now, and that leaves the rental income from that other unit for you. Based on everything you wrote the deal has potential.