Hey all. I have been a lurker for a while now, never thinking I had anything to contribute, but here goes, my first post and therefore, my introduction...I am looking for my first multi-family BRRR property in northern Connecticut and have become very frustrated. The sellers, who on one these properties (run down multi's) are most likely banks, do not want to get rid of them at a price that makes it worth it for me. I have made many offers, sticking strictly to the 50/20 formula and all have been laughed at, when, however, the real humor is in banks carrying these properties for years and paying more carrying costs than my offer. I just don't get it. Continuing to crunch numbers on building after building, not getting through to the sellers, and then having to walk away is very frustrating, but I am not giving up. I know that my persistence will soon pay off and I will get my first deal that will begin my cashflow portfolio. When the deal strikes, I will let the BP community know and hopefully inspire someone else to keep on keepin' on and not to give up.
