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Updated almost 9 years ago on . Most recent reply

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4
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Jeff Hanson
  • Engineer
  • Monroe, OH
0
Votes |
4
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Worth paying a bit more to gain access to additional properties?

Jeff Hanson
  • Engineer
  • Monroe, OH
Posted

We've come across a duplex that we're interested in purchasing (placed an offer on it of $137.5k), where the owner is a real estate investor at the tail end of their career and is planning on shedding their portfolio of 70+ rental properties over the next 5-10 years.  They countered us back to $152k (LP of $154k), and the existing monthly rent is $1400 (could potentially get up to $1600/month), putting this right around, or just below the 1% mark.  While this property breaks the rules we've set for our analysis/purchase criteria, I wonder if it makes sense to build a relationship with an investor looking to offload a number of properties over the coming years (as we look to pick up more and more properties).  Would love to hear people's thoughts!

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