Posted by Carol on December 07, 1998 at 17:10:26:
We picked up a Fannie Mae triplex which had started out at 69k, and by the time we became interested was already to 67 or 65k. We went in at 47 or 49k . They countered at 52k and we settled on 50k I believe. As is appraisal was 63k, and in Jan we will cash out refi based on an appraisal which should be (based on income) about $75-76k.
This was thru a local listing broker - deal brought to us by another broker with whom we have looked at some deals - though hadnt done any. He was VERY helpful in crafting the offer acceptable to Fannie and to ourselves.
He is also an investor … guess that tells you something.
Give it a fling!