4 Plex Creativity Near Fort Knox, Kentucky

[Troy Luster]

I missed out on a fully rented 4 plex that was right next to this one. It was around 1.2% when I did my analysis. It sold at 1.4%, which I think is standard for this area. Plus rents were low. One of the tenants told me so. I'm really kicking myself... The new one, which probably sold once they saw this one, is listed at a similar price. But it only has 1 unit rented on a month to month. I'm not really considering buying it, but proposing some form of cooperation. I'm proposing to be added to the deed (I would have to be in order to manage, my firm does not do prop management), be responsible for getting the property to 100% occupancy, maybe doing some rehab, and split some % of profit. But not really interested in profit. I just want to get started and get the experience. What do you all think?

[Jaysen Medhurst]

@Troy Luster, you mean added to the deed along with the current owner? I'm not sure I see the upside for that person. 

Why not just buy it? With three open units you can reno as necessary and get the best rents.