This would leave me with a $350 / month payment @ 10 years.Property1 – Purchase @ 45000 paid in cash Turnkey property with 0 rehab cost Rented @ 1050 (currently occupied) NOI - $5259 Cash flow - $438 / month ($92 after 10 year line of credit)ARV – 65-75kProperty2 – purchase @ 40000, 5k down and owner holds 35000 @ 18 months. 13k rehab cost, 8k of this is oil to gas heat conversion.

So keep your own numbers out of the conversation, and let them come back to you with their numbers.

I recall on the Upper West Side in the mid 90's the typical going rate was $5-10k to clear rent stabilized tenants out for conversions.

The seller wanted more and did have a private conversation with his broker, but did accept the deal as written with no changes and I bought the property.

I tell them the conversation I had once with my ex father in-law; he didn't believe in credit or credit cards, and couldn't understand why, when they went out of town, he couldn't just walk up to a rental car company, and plop down full cash, say $500.00 for a weeks rental, as they still wanted a credit card.

Here are a few recommendations for you:Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alertsIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below.

Conversely, the higher the Preferred Return the less important the accuracy of the comps or projected sales price.

What's the best way to go about this phone conversation?

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below.

I have been a member for about a year now and find some great conversations and especially the Podcast and Blog post.I have a few properties as well as a great team in the Phoneix area and am always looking to connect with others, as you never know how or when our paths will cross.Hope you find this site as informative as I have, Dave