Buying a percentage of a property

[Les Jean-Pierre]

Hello BP, There is a property that is on the market trading way under market. I called the broker and found out the reason is the price listed reflects buying 75% of the property. Looks like this is an inherited property. So, maybe there is a holdout. Anyone ever encounter a situation like this? My thoughts are try to negotiate with the holdout or buy the property and then start a partition action. I would rather hold onto the property. Let me know your thoughts. Thanks!

[Doug Smith]

That might be an NYC thing, but there is no way that I would purchase a 75% interest in a property unless I was buying the whole thing with a "partner"/JV, etc with a great Operating Agreement of some sort. There are a lot of fish in the sea. If you run into a real estate investment that bothers you and you don't completely understand or have control over...don't do it. It's a big country with lots of opportunity.