My Offer on a New Property was Accepted, No Counteroffer

[Kate B.]

If anyone remembers my recent posts, you might think it's funny that I am buying another property.   Months ago, I started acting on my long held desire to find a new primary residence, but felt I reached my limit with investment property.  I thought my new primary would be one unit in a multifamily in NYS.  But instead of finding my new primary residence, I found an excellent deal on a new investment property.   Yesterday I offered 20% less than the list price on a four-plex, and early this morning my offer was accepted with no counteroffer.   My cash flow with generous allowances for repairs and capital improvements and vacancies is close to 14%.   It is fully leased.   And I do not want to live there.

So much of this surprises me.  I still do not know where my new primary will be.   But I added another solid property to my investments and am getting in reach of my income goal for life.   I feel very fortunate.  Thanks to all the people who told stories here that helped me refine my objectives and act when I see a good deal.