If you could make 50. to 100.00 profit on a unit then why would someone sell? All of those multi on loopnet don’t look desperate. How can I find motivated sellers of apts?
I did find 12 units that are in a resort town that have a tax value of 850.000 on 4 acres. Taxes say land is worth $175.000 and buildings are worth 665,000. Rents are 7300. a month. What would you guys give for this to make money if owner finances 80% at 8% and I have to get 2nd mortgage of 20% or is there a way I could get these with no money down?
You guys are great. I appreciate your honesty and bluntness:}
If you could make 50. to 100.00 profit on a unit then why would someone sell?
There are a BUNCH of reasons they would sell even if they are making a profit. Divorce, death, tenants from hell, a strong desire to buy something else, and the need to flee the country quickly (oh-oh) are all good reasons to sell even if they are making money.
All of those multi on loopnet don't look desperate. How can I find motivated sellers of apts?
Real life is not like you see on the infomercials. You won’t find many deals sitting at your computer. You must get out of the house and meet people if you are going to be a successful real estate investor. REI is a people business and requires a LOT OF HARD WORK!
What about my deal I found? Do you think is workable? and how much would you give if total 12,000. sq ft and it list for tax purposes for 840,000 and she brings in 7300. a mth if all rented which 90% are. You are great. I have learned more from you guys than my Trump Institute course I think.