I'm not sure if the seller will go for that, but they extended our option period so they seem reasonable now that they know the seller created this mess by being a party to the CC&R signatures.

So if you can document that 6 units are rented and have been performing for a long period of time then you count the income.650 X6 = 3,900 X 12 = 46,800 gross income.If tenants pay all utilities meaning the trash, water and sewer, gas , and electric, etc. then use 50%46,800 divided by 2 = 23,400 so at a 10 cap would be 234,000 sales price.

My lease doesn't require me to do anything if I want to keep the tenant past the original lease expiration period since it has language in it that automatically converts it to a month-to-month tenancy upon accepting their next months rent.

I've been a periodic visitor over the years and decided it's finally time to introduce myself.I'm currently a senior in college in the DC area, and I'll be starting work in NYC this summer (assuming I graduate...).

Even after the property has been sold at auction, the second mortgage lender may pay off the required amount of money to the first mortgage holder and get the property back at the end of the "redemption" period.

See how this approach fits with your valuation of the property and make a determination accodingly.You can't let your empathy cost you, but you can pay more if the terms are right for a long period of time.

That means as clean as possible -- as high a price as I can offer, no help with closing costs, no due diligence period, no contingencies close in 3 days (or as quickly as the seller would like).Even those offers are getting rejected too often...I couldn't imagine playing games and asking for more with my offers.Now, that said, maybe other markets are still buyer-markets and investors can still afford to do this...

has anyone noticed when they open the door to see the house for the first time, if its a 'good' house, it is totally clean, the electricity and water are both on.It's also funny when they say "houses in this area sell in the 140's",,I guess the size doesn't matter to them,, it is good entertainment, but thats what it is.If I started buying houses to keep others from getting them, I would probable be bankrupt in a short period of time, thats how you get killed in this business

Jon is spot on, there will be disagreements and you must have an efficient way to handle them quickly.Whatever you do, do not assign each of you titles like Executive, Judicial and Legislative duties.

Meanwhile, rents have been declining for about the same time period.