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Updated about 4 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Midvale, UT
9
Votes |
26
Posts

I want to buy the complex we are managing .

Account Closed
  • Rental Property Investor
  • Midvale, UT
Posted

My wife and I have been managing a 20 unit complex in Midvale, Utah for a year now. We have lived here since July 2017, coming up on four years.

This is a beautiful complex with a lot of potential and I believe it has even greater potential than the current owner is tapping into.

Of course, I am still learning but I am very interested in this property because it has serious value from what I can see. The area is GREAT for families and these units range from 850.00 - 1095.00 per month. Everyone of them is a two bedroom one bathroom and they are quite spacious. 1054 ft.²

What would you suggest are the best steps to take, before I present this interest to the owner? As far as I know, he’s not considering selling it at the time but I know everybody has a price and if I am patient enough, I believe this would be a very good investment for my future plans.

Thank you for your time and I hope you’re having a great day.

Most Popular Reply

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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
6,948
Votes |
6,603
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
Replied

@Account Closed look into the tax angle from the owner's perspective. He can sell the property to you as an installment sale. As the PM you are a known quantity and he can trust your performance.

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