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Updated over 6 years ago,
Why Isn't this deal Selling??!
Hey guys my name Is Lance, I'm a real estate investor in Cleveland, Ohio.
I recently put a multifamily property under contract that from all the numbers, appears to be a KILLER cashflow property.
I'm asking 88k for a 4 unit property that consists of 2 Duplexes with their own parking and everything. About 5000 will make them rent ready and we estimate 30k or less will make them showroom quality.
Thats 22k per door and a great cap rate no matter how you cut it.
The neighborhood is a solid C and is even growing on paper. Crime isn't terrible, more than half the residents have college degrees and the street it's located on isn't a ****hole.
My seller needs the property gone by Friday and I need to figure out why I cant find buyers! Please help fellow investors!