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Updated over 3 years ago, 06/28/2021

User Stats

24
Posts
11
Votes
Thomas Lowe
11
Votes |
24
Posts

Help with 3 property deal

Thomas Lowe
Posted

I'm looking at purchasing a portfolio of 3 single family homes for 300k in the midwest. Cap rate 9%. Numbers seem fairly good after analyzing rent roll. 2 of the houses are in B neighborhood. One home is in C neighborhood. A couple of my concerns are:

-The seller is a real estate agent in the area. Claims to be relocating and is therefore selling properties. She has NOT listed the properties on MLS. What would possibly be the reason to not list on MLS?

-I asked if I could do a virtual tour as the property is 3.5 hour drive from me. She declined and gave me various reasons including "the properties don't show well via video tour." Is this typical?

Thank you in advance for you help!

Tom

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