Apartments Listed on LoopNet

[Shunda Walker]

Hello, All!

Situation:

I have a buyer that is looking for apartments here in D/FW that meet the following criteria:

1) Age of Apt. Bldg.: No older than ten (10) years

2) Equity: $30K bare minimum.

3) Very little to no rehab

4) Must be priced to sell at the tax roll value and no higher.

My question is this:

"Does this sound a bit unrealistic?"

I found some properties, but I had to rule them out because they were either too old or the asking price is more than the tax value.

***ALSO, I HAVE ONE MORE QUESTION***

I heard that finding properties on LoopNet was not a good idea? can anyone explain to me why that is?

Thank in advance for any and all replies.

[Joel Owens]

I get it all the time.Unrealistic buyers looking for a pipe dream.

They go to the bottom of the my stack.There is a huge difference between a buyer wanting a great deal and being able to perform quickly than pie in the sky stuff.

Every one in a few thousand you will find that type of deal.In that case I will buy for myself or lock up the deal to assign to another buyer for a fee.

I have direct contacts for my business.