Few nice exotic cars, and NO interstates within a couple hours.

I am looking to purchase 80 acres of interstate farm land property in a rural area and master plan a outdoor mall.

2) She said she was intersted in what I had to offer, but why would she bother?

If I have a contract to lease option a property I can sell my option to purchase the property as an "option fee" The fee is for my interst in the property being my interest to purchase the property.

Included in estate were two properties and business interst in a small company.

Property Description:2 building 9 unit apartment complex located in a downtown area of a Midwest city with inter-state, water, and rail transportation systems in place.The building is about 40 years old, but has been maintained very well.Building is 11750 Square footThe lot size is 16350 square footNew roofUpdated interiorhard wood floors, crown molding, and French doors.Units: 5 3 br, 3 2 br, and 1 1 brGross annual rent $55620, 1 3 br is vacant, rent would be $750 per month.Asking price $400,000.00Seller agent claims NOI is $43200 per year, with taking in to account the one vacant unitSo, if NOI is correct, the cap rate would be10.8.Using the 50% rule the cap rate would be 6.95.Assuming the complex was full, the cap rate, 8.08.Not sure who pays the utilities, I am still waiting for the seller's agent to send me more info.Cash flow:Gross rent $55620.00 with current vacancy.Expenses 50% rule $27810.00Per unit $257.50 per monthNOI $27810.00Seller is willing to finance 80% at 7.5% over 30 years with a balloon payment in 5.P&I $26849.88Leaves $960.12Or $8.89 per unit per monthNow, I am just getting started, so I have exactly no cash to put in to a deal, unfortunately.Assuming similar terms for a loan for a 20% down payment, but with a 9% interest, that would be a payment of$643.70Per unit $71.52Net cash per unit of $-62.63At the asking price of $400K, I think this property is over priced.

First responders, whether is was 9/11 or the Highway Patrol who stops to help a horrendous accident on the interstate, have a job to BE FIRST RESPONDERS.It's all about greed and I am sick and tired of it.

If it ios an adjustable rate mortgage, then I may receive less interst in the payments thereby lowering my yield.

I am intersted in flipping REO's.

I live on a ranch outside a big city, close to an interstate highway, hoping that land values will grow more quickly than home values.