Legal 3-Family Based In Newark New Jersey near Rutgers University I am one of the top local realtor and rehabber and this is best deal of my career as it has taken me 3 years to secure. I plan to purchase the property and put it back on the mls after addressing the repairs, house clearance , secure property and make it safe. Acquisition Cost: $250K (including short sale approval price of $218K, seller liabilities, real estate & wholesaler fees, and utility arrears) I do not plan to renovate but the renovation costs are: $230K-$250K After Repair Value (ARV): $735K-$800K+ ( I have attached the appraisal at $735K) Higher ARV can be achieved by increasing the bedroom count and adding an additional unit in the basement. 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 immediately. Please see the feedback below based on the current market to provide an idea of the current sales price. 1. Cash or conventional offer around $420-480K+ 30-90 days without reno ( I have received 2 offers so far between $400-450K) 2. FHA 203K buyer -$450-530K+ 5-6 months without reno 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. I need to close asap as to avoid asking the lender for another short sale approval. All legal and title work has been completed
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