Posted by Brent_IL on September 13, 2003 at 19:27:18:
You say the sellers want to sell subject-to. Was that after you planted the idea in their minds? I’m always suspicious when sellers start throwing around real estate terms like subject-to, so I start exploring the depth of their knowledge. I get to wondering if I?m the pigeon.
$2,000 to $5,000 per property isn?t too bad if the fix-up and resale costs are very modest. Some of that can be recovered from the deposits of a tenant or R/B. You are using cash to buy an equity multiple. That is a very sound investment approach.
I?d go for both of them.