Incredible Reno Duplex Deal Slipped Away - Open Market Gems Exist

[Trevor Richardson]

Real estate investors, a recent vacant duplex deal in the Reno market slipped away from us, but it highlights a crucial point: incredible deals can be found on the open market. I know this is contrary to the BP forum beliefs that no good deals can be found on MLS. That's just not true.

This on-market MLS property, sold by a church (which created the opportunity) for just $159/sf, offered a projected 7.2% cap based on local market rental rates. Which is a full percentage point above our market average cap rates for the area. While we missed out on this opportunity, it reinforces our belief that analyzing open market properties can lead to lucrative investments.