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Updated over 6 years ago,
4plex buying at cost, deal good only with increased rent
I've made 2 offers on a 4plex fully rented. Seller has "declined" the offers which were 93% and 95% listed price. Leads me to believe they are holding out for full price. Numbers don't work at full price and current rents. Numbers look better if the rents are closer to market. I'm concerned that my equity will only be my down payment and to make my numbers I will need to increase the rents in the next 12 months. The 4plexs are affordable in a good market, but these are just not slam dunks. Any advice or creative options that would make this a win/win for both sides of the fence are welcome!