Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago,

User Stats

72
Posts
24
Votes
Derek Caffe
  • Real Estate Broker
  • Austell, GA
24
Votes |
72
Posts

Negotiating advice on 30+ unit apartment complex

Derek Caffe
  • Real Estate Broker
  • Austell, GA
Posted

I've come across an off market 30+ unit apartment complex. My question is how should I approach negotiations when I'm speaking with the family directly? The details are outlined below.

It is currently owned by a group of family members who purchased it from their relatives in order to keep it in family. The new owners all have full time jobs and not really looking to be landlords. 

I just received an email from the head of the family group spelling out the situation and asking although they did not do an appraisal, because it was between family, what would I offer them for it. 

I've only been able to ride through the property at this point. I don't know rent roll, unit mix, market cap rates, etc. 

Loading replies...