Posted by chill on May 04, 1999 at 11:40:19:
Thanks David, for your good suggestions.
The owner is unmotivated, won’t budge. Doesn’t need to sell. I am prepared to move on, but, in this case, I think the profit is in the equity.
Student rentals very close to large university. Will probably always rent to students. It is rented too low, but the guy will only sell if you will honor the leases until Aug. 2000. After that one can go up. Other major things going on around it – city may want the property in 1-3 years.
The owner is smart and tough. He built 43 houses like this one and has rented over the years and now has 7 left. Sells them off at his own terms.
I’d be willing to sell, but he is asking about what they are worth now. Owner is 75 and doesn’t want anything longer than 7-8 yrs.
I guess I need to walk this one – a friend is also bidding on one of them and can’t get one inch off his terms either.