Newbie Needs Help ....Thank You In Advance :)
Hello, I have the opportunity of purchasing a home for possible resale or rental....Here are the figures, etc. The asking price is 34,900...FMV is 45000 . The property currently has a tenant on mo. to mo. rental of 480.00 but the rental comp in the area is between 600-750. Do you think this property would be worth my while. Overall condition of the property is good....(not much work needed). The owner has a Lease Option where if I pay the asking price, he will hold a second. Please explain that to me....I have no idea. Any advice that anyone can give me would be greatly appreciated.
Thanx again.
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