Quote:
Originally posted by airpal
Only one rented unit?! I hope you've checked out the place very thoroughly as to know why they currently have 75% vacancy. Also, you should make an extremely low offer, because using a cap rate and NOI, the property would be worth next to nothing since it's an income-producing property.
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it is an absentee owner with no property manager
they evicted the other tenants for non payment.
i spoke to the tenant and got the scoop.
It just needs to be managed properly.
I had to hire a property manager for the properties I inherited, so im good.
My realtor says the property is underpriced as it is.
so we're gonna start at 150k