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Updated over 4 years ago on . Most recent reply

User Stats

95
Posts
27
Votes
An Duong
  • Boston, MA
27
Votes |
95
Posts

Buying multifamily but the owner wants to stay for 2 years.

An Duong
  • Boston, MA
Posted

Looking to buy a 7 unit multifamily in Rhode Island but the owner wants to stay in his unit for two years at a reduced (less than fair market) rate.  I am not sure how much hardball I should play with this.  The deal is good enough that I would'nt mind having him stay for maybe 1 year but 2 years seems like too much.  He is 72 years old and says he needs that time to move him self out. Any advice would be helpful.

Thanks!

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