Quote from @Jasmine Thermitus: Hello Everyone,I recently moved from Boston to North Providence and purchased my first property.

Hi everyoneIdk how to feel about this.In 2021, I purchased a property that used to be a duplex.

The lease I had before, I purchased from RentPrep, and I really like it because it covers so many things.

Purchase price: $174,000 Cash invested: $16,000 Bought a single-family home in spring of 2021.

@Ricky Rigsbee - I use the Michael Blank SDA and think it's extensive enough for modeling a purchase with or without syndication. 

We have an offer for someone to purchase our property via Subject To. 

They were selling on pro forma, but the market and the debt market have shifted, and it's aa lot harder to achieve higher pricing with lower rents.We've purchased over 2,000 units, and the simple answer to the question is that they are either mom and pops and run their businesses with ZERO KPIs, they do not want to risk losing tenants if they raise rents, and they don't treat their asset as a business.When you take over, it can be difficult to get rents to market if they are very suppressed.

NAR considered job growth, financing, renter who plan to purchase a home, migration to these metro markets, number of renters who are planning to buy as well as homeowners who plan to move.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

If purchase this RE, ETC Mar 2024