All Forum Posts by: Matthew Shafran

@Tchaka Owen - I did end up contacting the agent, but they have only given me the rent info so far (nothing on the expense side). Rents were a little lower than expected, so I'm guessing it wouldn't be too good of a deal, especially if he's not really being forthcoming with the expense info.

@Tchaka Owen - Thanks for the response! Doesn't the cap rate take into account all the expenses / rents? Or is it likely they may leaving something out of their calculation (probably some expenses)? 

I'm relatively new to this, so I wasn't sure if the cap rates (or rents / expenses) shown on listings would actually be accurate. I'm mostly just looking around at this point to get a view of the markets, so I definitely didn't do all the due diligence by contacting the agent yet.

Hey guys, I was just looking around at real estate around the Bristol / Southington area and saw this 6 (says 7 in description but listed as 6) unit multifamily in Terryville. It claims to be turnkey and is 100% rented right now, at a 10.7% CAP rate and is relatively cheap. On paper, it seems like a good buy, but it has been for sale for 2 months. I don't have a lot of experience, but with the one property I bought, it ended up off the market in a couple days with multiple offers.

Is there something I'm missing here on why it hasn't sold? Do people just stay away from the larger multi families due to the difference in financing? Link included below:

https://www.loopnet.com/Listing/220-Main-St-Terryville-CT/15205487/