First Contract for Deed

[Lam Chuol]

I called my realtor last night just to check up him and see how the market is going because he been sending me a lot of good listed properties. Multi-family units, I analyze them and do the numbers even though I know I don't have the money to invest yet. Most of them meet the 1% rule with 16-20% ROI. He told he got a 4-plex that he would be able to do a contract for deed for if I am interested. He told me what he would be asking for and I did my analysis and here my reply.

Me- I would love to look at the property it but I don’t get off work until 5pm plus the drive there so it won’t be until 6-6:30 in the evening. However there are discrepancy between what it’s currently worth and what you quoted me last night. It was last listed for $112k with the estimate market value of $144k but you asking $200k for it. Plus the home is not currently rented I don’t think the price would make sense for me.

Him- Well. You haven’t seen it

Me- Yeah I know but just giving you my analysis of the numbers so far.

Him - You can’t analyze numbers that aren’t there on a property you haven’t seen. There’s more to real estate than seminars and formulas.

My question should I even bother to move forward or is he right on his response to my concerns?