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Updated over 3 years ago,
How to know the offer price when coldcalling owners
I’ve been targeting a multiplex community where I own a current property and want to get another one ans have had some other owners respond to me knowing what I want to pay. My response has been 6-7% cap rate. But I think that may be too difficult for them to calculate at times.
Any recommendations for how to price these to sellers on turnkey 3-4 year old multi family properties? There are no comps in the area because they’re newer. And maybe to my own naive experience, I’m trying not to use a realtor in an effort to get a better price due to the strong market.
Thoughts on best way to do this?