Agent had friend buy apt building I found using my offer & terms. - Posted by John
Posted by John on January 17, 2000 at 11:44:53:
Hi,Everybody What would you do and has something like this happened to you.
I found an Apt. Building 18 units using Sheets method I sent a letter of intent to the Agent. Asking $720,000.I figured out it has 2 vacant, cash flow 15,000 a year profit, I was offering $669000. using Sheets cash flow analysis. I offered to put $15000 cash down and have the seller carry the balance, the agent said seller was interesed but wanted $50,000 down or he would not deal, which I was not able to do.
I found out the seller was interested in my offer but the agent told me he was not, the agents friend bought the building with the terms I offered.
The owner just wanted a cash flow every month while
he traveled, what would you have done different, I am looking to hold properties.