Hi.

A four-plex in my area is currently for sale for $70,000. From what I have learned from the sellers they are extremely motivated to sell because they recently divorced and neither of them wants to own the propert...

Marcus, almost universally the tax assessments and the actual value of the property have nothing to do with one another.It is best to only use the comparables (similar property within 1/4 mile of the subject property and sales within the last 6 months) to evaluate the value and then make your offer price based on those comps and of course the cost of repairs, etc.Best of luck!

Good to know, and definitely provided me with some more direction when evaluating the property before putting an offer in and getting a formal inspection done.

Even if there are other investors working in the park already, everyone has different criteria when evaluating deals.

You need to both prepare the Client for what might happen and also be able to evaluate the deal.

You have missed some critically important items in you initial evaluation...Things like management, maintenance, vacancies, insurance , the cost of the insurance and those utilities are enough to choke a horse..Based on what you provided this is a full price deal.There is a great rule used on this forum called the 50% rule.

Demographics such as employment, average incomes, average home prices, rentals vs. owner occupied are all aspects that should be evaluated before you ever look at a property.

I contacted this individual, and asked a bunch of questions on this and I understand that this process would take between $6-8k to evaluate and design a system for permitting – this cost would not include the actual septic system.

So, I was evaluating some out of State leads that came accross my desk over the weekend and plugged the addresses into Zillow and Truila.

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