Here are the numbers of the deal, experience eyes and direction is what I am looking for in regards to setting an offer amount that makes sense for its current worth. 6 unit owner asking/LOI has agreed to 600,0006 unit - 3 2bd/1bth, 2 3bds/1bth and 1 4bds/1bthtotal rents+laundry = 60,100 current/ pro forma= 70,200 (this can be achieved without any upgrades)expenses = 23,000 currentNOI=37,100 using the cap rate (.09) method of valuation = 412,222Got cap rate from a local CRE agentBuilding is 100% occupied.

You might see a rapid shift in the MBS, then rates catch up slowly over the course of days, maybe weeks.Then it changes.

I have insurance so I’m not super paranoid about one of my places catching fire but people dying in it is more concern.

Hey all,My wife and I have been on the look out for our first deal and we actually found a property way below market value but, there are some catches.

Reality is in the eye of the beholder in a market situation. 

A lot of fraud can be prevented with two things, one of which is tougher than the other: 1. common sense and an eye for these things and 2. trust but verify.

@Toby SheehanKeep an eye on your ROI and make sure you have a CPA that understands real estate, depreciation, cash flow, that can help you figure if your investments are providing true diversification with good returns.

And I think you are spot on - getting deals from the MLS is a little bit like catching fish with your hands, you have to be quick and firm!

A few properties have caught my eye.

Naturally, most people think cowboys are nuts: who wants to ride in a saddle (i.e. car) on a dusty trail all day (i.e. driving for dollars) and keeping an eye on cows (i.e. looking for overgrown lawns, FSBO signs, foreclosures, short sales, off market deals)?