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Updated about 7 years ago on . Most recent reply

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4
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Steven Ferraro
  • Mamaroneck, NY
0
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4
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First multi family Purchase... but something is up...

Steven Ferraro
  • Mamaroneck, NY
Posted

I'm currently looking to put in an offer on my first Multifamily investment property. The property currently cashflows at 10+% and looks immaculate. The one weird thing is that it has been for sale and sole 2 times in the last 2 years, the third being my pending offer acceptance. The current land lord has owned it for 7 months and is selling because of "Family issues". Should I be concerned about the turnover 3 times in 3 years. Is there something that they're not disclosing that will hurt me in the future. I figure there is no issue you can't fix. 

Any thoughts is appreciated!

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