What Comprises A Good Offer Price

I am trying to figure out if there is a formula to a maximum offer price.

I am looking at a 2-4 family house and I do not want to have to pay more than 1000.00/month out of my own pocket and have the rest of the mortgage paid through the rents. I am planning to live in this home, so I know calculations may be different, but I eventually want to hold this long term and collect rent on this, so there is positive cashflow.

Any help would be greatly appreciated. :-D

Comments(3)

  • pmatheson13rd March, 2005

    If you get cought, How much time do you expect to be sentenced to, for selling Real Estate without a license?

  • m_sanchez3rd March, 2005

    Well I have a contract for 550,000 with the seller, he knows I have a buyer for 585000. The buyers attorney told me i could put my 35,000 as a) a finders fee or b) put it as a personal debt and that the seller is authorizing the disbursement agent to pay "my company in full from the proceeds of the sale"

    Can that be done? i mean the second option.

    or how can it be done without much hassle.

  • m_sanchez4th March, 2005

    Thanks jon_realtor.

    But... if I assign it to the buyer will the bank pay me the $$ or does she have to pay me from her pocket?

    If the bank has seasoning, and I know it does (cause my friend is the one doing her financing) can it be assigned anyways?

    thanks guys.

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