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Updated over 8 years ago,
Buying the Property I live in :-)
Good Morning,
I love BP and want to ask the community what all of your thoughts are!
Here's the situation.....my wife and I live in San Diego and have rental property in Louisiana. (The price points are a lot better in Lousiana) We love SD and live in a 8 unit townhome/ garden apartment complex. It's in a desirable neighborhood and even though cash flow in SD never really happens I'd be interested in making an offer to the owner. I have the owner's address but have never spoken with them, only property management. I don't have any issue with witting a letter to the owner my issue is that I don't have any of the "numbers" to evaluate the property I live in expect my own personal rent. A rent about which I think is lower than the other units since we've been there for 3 years now.
Does anyone have any insights on how I can reverse engineer this problem a come up with a possible valuation of this property?