Hello BP Members.I have a Quadruplex currently for sale 4 unitsTenant Occupied(3 tenants)Concrete Block2828 sq ft0.5 acre lot(can fit another 3000sq ft building on property)Water Well Connection15,300 gross income(with 3 tenants)7.00% Cap RateRepairs estimated at $25kAsking Price $50,000Price Negotiable/Accepting Offers

It's been a very very cold night, nice to be here again.

A lot of that RE value stabilization came around as the banks slowed up their selling of defaulted positions, increased their reserves to deal with the default and could get their heads above water and off the regulators lunch plates to focus on future business.Much of the craze we have now, especially that in the more private street level investor market is very recent.  

Two years ago, water heaters failing; last year, furnaces.

Seems like there might be some water getting at it and shorting something out...but I really have no idea.

It is rial in the sense that it is out side of city limits and has a well and septic although they just ran city water on the street.

I personally think they are awesome looking and worth dealing with a little water.

Please let me know what questions you have and any more info you need.Here are the inputs:Purchase Price:  $171,000Interest Rate:  5.125%Down Payment:  15%Total Amount Brought to Closing (down payment and closing costs):  $22,875Gross Rental Income When Bought:  $1,050Gross Rental Income 1 Year Later:  $2,450Monthly Water Bill I Pay:  $83Property Management Fee:  Assuming 10%, but I manage this property for now, so for now it is 0%.  

However, if the roof is bare in spots, water damage shows, flooring is missing or is a hazard, etc. etc.,  then you're best off with private/hard money.

Owner is selling his motorcycle to pay the mortgage due to wifes medical bills. He is married, employed, and has a couple of children. Before I contact the owner, I would like some feedback from the BP community on ho...