All Forum Posts by: Howard Salpeter

I have access to a multi-family property & an investor who would like to purchase it. It is off-market & seller direct. The investor believes the seller should pay my fee but I have spoken to other multi-family owners in this market & they say the seller never pays. I suggested including my acquisition fee in her purchase price. What is the best way to structure this deal?

I am interviewing property management companies for a 65 unit apt building. Does anyone have a form or questionaire they use? Thanks

I am buying w/ cash investors and conventional loan (although private loan is possible). I will check into the receivership issue. Thanks

I have a contract on 21 unit property, now in feasibility period. The seller is in bankruptcy & trustee has approved the deal. The seller has been difficult & has not provided the requested due diligence materials. Can I bypass the seller & work directly with the trustee, or can the trustee force the seller to give us the information? This is a good property if the numbers work so I am not ready to walk.

I also wonder if this lack of cooperation on the seller's part might work in my favor in terms of renegotiating a much better deal near the end of the feasiblity period.

Experienced input is greatly appreciated!!

Thanks for the input. They are 3 4-plexes & I am going to see if I can split them off (probably not likely). I am also going to look at the condo docs before moving forward.

Steve,

There are 12 buildings, these are in 3. The rest are sold. Is it worth a low-price purchase & hold as rentals for 5-7 yrs, or does the condo aspect make it too difficult?

Thanks

I have an opportunity to buy 12 condos from a bank--the owner converted them into condos & tried to sell them, unsuccessfully-- they are in a predominantly rental area of DC, now the bank wants to unload them. I am having trouble evaluating them & want to know what the experienced folks out there think of condos, condo conversions & this type of deal.

Input please: in areas with a glut of cheap houses like FL or AZ, is investing in multi-family properties still a good investment? Or do you find that more renters gravitate toward single family homes because rents have come down?

Anyone have experience with multi-family properties on the west coast of FL, especially Sarasota? I may invest in there but I am now wondering if the apartment rental market might be weak because there are so many single family homes to rent.

I totally agree with Bryan. I was at a SDIRA networking event last fall & the highlights were sessions presented by investors, not pitching products, and networking. There was also a speed networking session, which forced people to meet and exchange info. Some people will always be unhappy with the location but someplace easily accessible w/ good airfares, like Orlando or Vegas, will probably be best.