Potential Real estate deal - comments appreciated

[Tien]

Well, I would probably be sitting with the seller either tomorrow or at the latest Saturday morning and pound out all the details.

Dying to sell is a good word and enough of a good word to proceed.

I'd iron out an agreement and make it subject to whatever the hell you want.


Have you spoken with the manager yet? I think this is the KEY person you need to speak to ASAP to find out whats going on. Also knocking on tenant's doors and talking to them directly is something I often do. You will be bound to find one honest tenant in there that will sing the entire story of the property.


Another thing. What's your exit strategy?

If he accepts cash, do you flip or keep?


I like the owner finance approach but why are you voluntarily giving him 6.9% interest? Since when does a motivated seller get to have 6.8% interest?