Good morning,I am trying to venture outside of the Washington, D.C. area with wholesaling and have a few people I know that could assist me in Allentown.

Good Morning BP,I work in a very small market, we meet no demographic requirements for any new/newer national tenants.

So I planned to return the next day better prepared but checked it that morning and boom - PENDING.

You have bank economists, politicians, and, of course, the media, talking about "the new normal" and any correction being a gentle "soft landing".... sound familiar?

The problem I have with this deal is he's not a real motivated seller, is a soft touch running out for 50% of value, not a good businessmanWhat I would do is to sell him on an installment sale at about 50% of market rend payment, divide 750 into the sales price

I will contact my attorney Monday morning.  

@Brie Schmidt  Holly Molly I got my chuckle for the morning..  

Buying a property for 15%-20% below market value (I'm presuming you mean ARV) does not leave any margin for profit for you after your rehab costs plus all of the "soft" costs.

Thats why I will never close unless on the morning of the close the building is evidently fully vacated and locked shut then we close and I rush over with the keys and change locks.Good luck with your offers, investments and tenants!

This "developer" is an individual investor, who has developed a few houses on his own.The original plans were for the construction of either apartments or condos, and I think the developer's intent is to come up with new, realistic numbers (hard & soft), and determine if the market supports the margins.