Does months on the market mean its a bad property?

[Sara Furlong]

We're looking at this four-plex on Saturday. We're looking to buy our first MF home.

It's been for sale by owner, but in the listings for 115 days. I see they've dropped the price twice.

Is this a bad sign? Looking for insight from more experienced buyers!

Also, wondering what kinds of things we should look for when we check it out.

What makes a great investment? What makes a bad one?

Thank you in advance! :)

[Salvatore Lentini]

Hi @Sara Furlong - sitting on the market doesn't mean it's "bad" just bad for that price.  I bought an apartment building that sat on the market for 2 years at $750K.  I bought it for $525K.  At $750K it was not a good deal.  At $525K... with a lot of rehab, it has become a very good deal for me.  So much so that some of my investors now want to do bigger deals and get equity instead of 10-12% interest.  Run the numbers, add in some padding and make an offer.