Legal 3-Family Based In Newark New Jersey
- Acquisition Cost: $250K (including short sale price of $218K, seller liabilities, real estate fees, and utility arrears)
- Renovation Cost: $230K-$250K (depending on whether we add 2 bathrooms per unit)
- After Repair Value (ARV): $750K-$800K+
- Plan includes increasing the bedroom count and adding an additional unit in the basement.
I have 3 options to dispose of this property once purchased as I plan to put it on the mls for sale. Once acquired I need to clean out the property and make it safe and secure to walk around. So I need to spend max $30K with holding costs immediately.
1. Cash or conventional offer around $420-460K+ 30-90 days
2. FHA 203K buyer -$450-530K+ 5-6 months
3. Full renovation -$750-800k+ 6-8 months
Willing to negotiate terms based on amount of funds available to deploy and the length of time.
If you need any further details please do not hesitate to contact me at dbailey@perfectsolutionsusa.com
Hi Darrell, I reached out to you via private message. I’m a private lender. Can you please send me more information at jomaga@thevisionalchemy.com
Thanks!