Finding the right deal- properties with long listings
So reading through and listening to the podcasts a couple concepts come across loud and clear. You will find deals through networking once you are part of the investing community if you work with ethics and diligence. If you are vigilant and good with analysis you can get a deal either pre-MLS or early MLS entry of a property to market.
Does anyone specifically target the multi-family properties which have been listed for a long time? Does the motivated seller due to fatigue occur in the Multi's the same way that they do in the SF's?
Does anyone target multi's which are empty specifically, as most investor's buy on the value of the cash flow/NOI?
Thank you for your thoughts,
Bill
Most Popular Reply
A lot of times a 4 unit or less is a stepping stone to build up equity to get a commercial loan on a much larger property. In doing so, a seller of a multifamily will list their property at a Present Value price needed in order for them to have the capital to move up. So if they are 40k short from their goal, they will list the property 40k over market and cross their fingers. Otherwise they just wait until they have that 40k equity saved and just sell it at the market price at a later date. It just never hurts to leave your property on the market and amortize your way to your goal. Make sense?