Are you still finding multifamily are over priced ?

[Mike Campbell]

I know this has been discussed before sometime back. I'm Curious to what other are running into.  

I keep looking at apartment building for sale, run the numbers, earthier I'm doing something wrong or sellers is way off.

Example;

11 units asking 550k,

Ran the numbers, did scenarios of different amounts of down payments to see when there was a cash on cash return of at least 10%.Had to get to 50% of property value down before that happened, realistically I think the true value is around 340K. With a 100k down she has cash on cash return of just over 10%.

This is just one of many I have looked at; I’m assuming the trend is to over price and hope that an international or institutional invest comes along?

Orrrrr, am I out there like Pluto man.