Sharp pencils 2.0 - Best advice for negotiating off market deals?

[Jordan Wagner]

Hey all,

So here is a fun one for you. I am looking into a  4-plex deal in Pennsylvania (a market I know a lot about) that is currently a rental property but after running a cash flow analysis on it, it has a lot of potential for higher cash flow as the current rental rates are well below market value. So why is this? The owner is 90 and has a few family businesses that are stables in the community and puts all his attention into those and does not really have the interest in dealing with everything that comes with tenants, renovation, and what it would take to bring the property up to market value. Essentially he is over extended and has everything with the property on auto pilot with the property. The family is in the same boat, their businesses are their primary assets so they don't really care about the property that much. 

So my question is to land this deal, what advice and strategies would you use to get a 90 year old business owner to sell his rental property to you? 

thanks in advanced and feel free to private message regarding this deal as well. 

[Kevin Felmlee]

sales agreement. He'll be making cash on the interest and never have a phone call on the property.