So with that said……..Price (225,000)Closing 5% (11,250)However, I will be asking for seller to pay some or all of closing costs.Gross Rents 26400550 x 4 x 12Vacancy 10% 2640Leaves 23,760 in rental incomeMaintenance 10% 2640Leaves 21,120Taxes 885Leaves 20,235Insurance 1300Leaves 18,935Utilities 3262Leaves 15,673NOI - $15,673Cap Rate – 6.96515,673/225,000Cash flowMortgage terms 225K purchase with 20% down is $180,000 at 5% is 966 a month.15,673/12 = $13061306-966Cash flow $340 a month$4080 a yearCoC – 9.6%4080/ 45000Would anyone consider this a viable option?

Drop him a note or call him and request an earnest money check and proff of funds, or all of this is for exercise.

Assuming some structural issue with some or all of the balconies, just because you were allowed to tile the balcony would not have fixed the structural problem.

If you become a member you can go to any or all of the meetings.Good luck!

First example is where you have a binder to hold a unit for an applicant, but applicant backs out without moving in; the binder agreement could be written in such a way that you would get to keep some or all of the binder money.

If so, you can ask them to add you to one or all of their credit cards as an authorized user and you will quickly inherit a good credit history.

Not every question needs to be asked on every call and sometimes by asking one question and then shutting up to let the seller talk, they will give you information enough to answers may or all of your questions at once.  

And you or all of you may need to file amended returns to correct past reporting to what it should have been in order to be taxed appropriately on the sale.

@frankr. is the 20-40% down payment or all in (closing costs, down payment, etc.)?

I have a client/Broker who is in this boat (oral agreement ONLY, no written contract, just emails) and I'm looking for successful experiential tips.