Posted by James Strange on July 29, 2003 at 19:58:17:
As long as the comps are in the same area this may be good.
But I would also expect to see a lot of defered maint. If you willing to bring it up to standard this could be a money maker. Just have a good solid plan going in.
James Strange
Financing - Posted by Yasir Omari
Posted by Yasir Omari on July 29, 2003 at 17:42:57:
Going to look at 18unit, currently one hundred precent occupied. According to a realtor unattached to this property in which he says, “apt bldgs under 21 units sell for between 33-44k per unit”. Subsequently, the asking for this 18 unit is coming in at right around 26k. Upon further due dillgence; I fully expect to find deferred maint associated with the property.
However, even with any percieved deferred maint, I would still stand to come out ahead regarding this property, unless it’s something catastrophic in nature?
Your thoughts please!
Sincerely,
Yasir Omari