NO Owner financing, all cash or nothing.If you were to take the shape of the buildings into account and the surrounding land plus the current and pro-forma rent rolls 2 million to me seems to be a very fair price, and I see where he is coming from.

Pro forma is $4500 a month in rents but that is not all true as the front house on property is owner occupied.

I also find that optimistic, hoped-for pro forma rents coupled with hidden concessions that drive low vacancy is a usual trick by criminal brokers.

(This also applies to securing a land trust interest or an LLC interest but not the underlying assets of the entity)A UCC-1 form is typically filed with the state's Secretary of State Office and serves to put others on notice that the lender has a secured interest in the items listed on the form. A

- should I form a LLC?

However, if you feel treated unfairly why won't you form a powerful landlords lobby (If you could afford it) and push your (ours) interest in Washington.

This property has been on the market for 6-8 weeks.NOI on the 2008 and pro forma numbers states $2.3MM.I'd say that most invesors will use an NOI of $2.0MM on this property to be safe.Debt service on the Freddit Mac will be $1.45MM yearly.That leaves a net income of $550,000.So here's my questions:1) How is it possible that there's already 11 offers?

What do you think the pro-forma cap rate can potentially be?

One approach, of course, would be to capitalize the NOI based on your first-year of stabilized operation, and that would be reasonably credible with leases in place.Also, if there is rental rate, absorption, and vacancy history for similar properties, that data would be helpful in building pro-forma forecasts of future performance on your new properties.Somewhere in my mass of stuff here is a short ebook I wrote about the front-door and back-door approaches to analyzing a new income-property project.

Stick to your pro-forma as it will be the best guide.Good luck!