Posted by Zane on July 21, 2011 at 19:33:49:
I have a contract on a 3 Family home in the Bronx, NYC. Very nice street. Quiet, lots
of transportation routes and a large park nearby. There’s a positive cash-flow and we
negotiated $59,000 lower than the asking price.
That makes the property $85,000 or more under market prices for similar properties in that area.Could use a bit of cosmetic. Attached brick house with perfect roof, water tank, boiler with a sunny finished basement.Good foundation in a revitalized area. Deal won’t last. $30,000 positive net cash flow and $200,000 price. Will consider a partnership or you can purchase contract outright.