“Investment Property Market Very Strong”
Good morning this is the property that I was talking to you about it Asking price is 380,000 however, it is worth more than they asking. They are now asking for the highest offer and we will be 440,000.
The property has two 1 bedroom apartments and it can be rented for $1500 each and the 3rd apartment is a 3 bedroom And it can be rented for $2500. Some painting and a little updating in the kitchen otherwise it's a great piece of property. Let me know your thoughts please, I will need you to do another investor cash flow mortgage, as before will be putting 20% down. As always, wish me luck, thank you Joe.
In many markets and in this price range, 20% above asking price is not unusual, but with this kind of cash flow, it is understandable and the property would easily have a health return on investment.