First Deal Need Advice
Hi everyone, I have my first deal and I need some advice. I have a duplex that the agent wants an offer on today. The problem I have is I dont know what to do with it. I have 2 investors that will buy the contract from me. 1 offered $3,000 and 1 offered $10,000. Is this good or should I be doing something else with it. Its a fixer and I have 0 money to put into it.
2 plex
Worth 550K
Purchase price 415k
25k in repairs
Neg. rent right now could be small profit after repairs.
Any adice would be helpfull. Thank you
I would probably do a double closing or assignment to the investor offering $10,000, but if you want to share in the potential of the profit you could propose joint ownership with an investor. Just propose that he gets paid back first and you share 50/50 in everthing after that.
Good luck