All Forum Posts by: Shannon R

I've come across a fully leased 5unit apartment building in a good area that the asking price is $350,00. The owner is going through a divorce and needs to sell :cool:

1 studio -$ 450
2 1bed -$ 550
2 2bed -$ 800 and $750
_____________________________

$3100

Tenants pay for all utilities, no major repairs needed.

Onsite well for water
All Taxes -$2500/yr

Here's the problem, I was told that all of the P/L documents have been lost due to a flood, which also triggered my red flag.

I still need to ask since this will be my 1st buy and hold. Do you think this would be worth pursuing if I can get the price down below $275,000 and get financing?

I'm still learning, go easy!!

Jared,

I'm not an expert on REO offerings, but a mentor that I get advice from says to offer what works for you. I would offer the 100k and see if you can get a counter offer. You can always make another offer on the same house down the line. He also says that if you offer an X amount and they accept right away, then you paid too much!

Thanks for the welcome. I haven't fired my boss yet. I'm not quite ready to make that step, but I guess if I did fire him I would be stepping alot faster to find and close leads than what I am now..lol.

Hello Ryan, Just saying hello from the other end of Pa!

Hello everyone,

Thanks for the welcome! I have learned alot in the last few days. I jumping into the real estate investing with both feet in!!

Hello, I'm a newbie to RE investing. I live in Chester County, which is not far from Philly. I got into RE investing to fire my boss, become debt free and then teach other to do the same. Right now I'm focusing on wholesaling and then I'll get into the l/o & sub2 investing.

I guess that's all for now.. :cool:

PS. I need buyers!!!!!!!!!!!