Posted by Anne-ND on February 23, 2000 at 08:53:37:
listing it at the rent you expect and see how many calls you get. In my area, around 10 calls will get you 2 who come to see the place (who are seriously looking).
I am about to buy a Multi family and my wife is getting cold feet - Posted by Kevin
Posted by Kevin on February 22, 2000 at 22:01:32:
I have studied CS course and have finally found the time and the right area to buy. My problem is now that I have my first property picked out and know I can get the deal (the feeling is great isn’t it) my wife is having second thoughts because it’s a three flat and 2 units are vacant. I am working with a wonderful agent and the area is a great rental community. The agent feels that I will have no problem getting renters in 4 - 6 weeks. (He has 10 properties in the area so I feel confident that he knows). We have talked to the sellers agent and they say the units have been empty for about 2 years because the owners have no desire to rent any more and just want to get out of the investment property. Could you ask for a better situation? So how can I convince my wife that this will work?
Re: I am about to buy a Multi family and my wife is getting cold feet - Posted by CindyS-De
Posted by CindyS-De on February 23, 2000 at 06:39:47:
How about putting an ad in the paper to rent the place for a day to see what kind of responce you get. The first place I bought I pretty much had to bully my husband into buying. Now his concerns are different in that he knows he’s going to get stuck with maintanance. He doesn’t worry about getting renters now though, especially in a city situation.
Re: I am about to buy a Multi family and my wife is getting cold feet - Posted by Larry
Posted by Larry on February 23, 2000 at 04:54:14:
Kevin, I wouldn’t buy from an agent who also is an investor. I had to learn the hard way that they always find a way to do the great deals for themself. As far as the wife is concerned I suggest listening real close to her. I am a highly educated professional with a great deal of experience in real estate and finance. My wife has no college and can’t balance a checkbook but she has more common sense then any ten people I know including me. Having being married for a long long time I also know that a woman’s intuition should not be ignored. If she feels very strongly against my real estate decision then I usually take her side. She has saved me much time and money and does get very involved in the rehab process. Just my 2 cents! Larry