I got two apartment buildings right next door to each other. They are brick 4 unit buildings.
List price of each is $159,900.
The owners son was left here to manage the apartments. Moved his friends in and they are not paying the rent.
Dad lives in Texas and is mad as a hornet that his son is not taking care of the props.
Wants conventional mortgage per listing.
Here is what I want to offer.
Lease Option two years at 139,900 per building.
No money down.
Payments of 1000 per month per building.
Two month no pay to get existing tenants out or get them to start paying their rent.
Rents are approximately $600 per unit.
Taxes are approximately 3,466.82 per year.
Trash is $100 per month per building.
Gardening is about 120 per month per building.
Anybody think this will fly?
Am I offering too much or too little?
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