All Forum Posts by: Courtney Tinnin

Thanks for the responses Joshua, Patrick, and Jeffrey!  You all basically confirmed what I had heard from others.  It's a great location, and I think I could probably work out a deal where maybe I buy all 8 units and lease 3 or 4 back to him at a discounted rate and he could then sublease them for the rental income.  I would obviously need to offset those costs in the purchase price, but that's what I am thinking.  Anyway, I appreciate the input from you guys!  

Hi, 

I am interested in purchasing an 8-unit apartment complex from a gentleman here in Albuquerque, NM .  The problem is, right now, he is only interested in selling 2-4 of the units.  Because all of the units are located on one parcel, the title company said I would not be able to get title insurance.  When he originally purchased this property 15+ years ago, he purchased 1 unit and then a couple years later he purchased another unit, and a few years later purchased the remaining units.  He currently lives in one of the units and wants to keep a couple others for income purposes.  Is there a way to safely purchase just a few of the units?  I am interested to hear your thoughts, because the only thing I have heard thus far is the owner would have to convert the apartment into condos which I ran by him and he does not want to do.  Also, not sure if this will have any affect on your response, but he is currently on an REC. 

Thanks!