Posted by Jim Holmes on March 01, 2000 at 24:50:36:
Ken,
Sounds like you are in a great market. I think you’ll find that when you get into the bigger unit apartment deals that you can find a lot of owners that will carry. There is a lot of money tied up in those babies and most people aren’t up to taking them on. Just a word of caution…remember to do your homework. You can get owners to carry 'cause they want some cash out. You can buy a lot of property, but you need to ask yourself, “can I afford to own it.” The property has got to cash flow, cash flow, cash flow echo effect.
I am not as seasoned as some of you may be and especially in the area of purchasing units. I am a C/S student and Wright Thurston (who specializes in units).
I have access to 40 (different units–that’s right 40 different addresses) in the Los Angeles area that are FOR SALE BY OWNER AND OWNERS ARE WILLING TO CARRY!! SOMEBODY HELP!!! I don’t want to lose an opportunity like this. If you are seasoned at buying units or have something else to contribute (capital/credit/equity/etc.,etc.) -PLEASE HELP.
I want to partner with someone to take advantage of this opportunity. I am good at writing creative offers, but need help in these other areas mentioned and, besides this is too many units for me to handle alone. Would like to share my success!!