we grabbed the tail

happy new years to you and yours.may it be a prosperous one, both in the tangible and the intangible.
i thank you for you interest in forming this group.i believe we can synergize our learning of our profession collectivly. through our availability to each other as a sounding board we can optimize our differing strenghs and experiences,sharing with each other the details behind our mistakes and success stories.provide continual encouragement and advice to keep each other focused and heading in the right direction.in addition, since we are presumably in differing situations,i sincerly believe that by helping each other achieve each ones' goals of success we ultimatly benefit in our own road to the same.this is what we've stumbled into.
we are currently working on a 10 unit thats been 70% vacant for a while. it is in the forclosure process for around a year now.its market value is 754k(proptrend) and is listed for 425k. as dg family knows we are not going to pay that price. we are going for a justified better deal.
during the course of researching this property i found that the owner is somewhat involuntarily divesting himself of 18 other multi unit properties...correct all 18 are multi unit properties.
need a really big mouth or some really sharp teeth to chew this one.


Mark K's picture

Make sure you check post dates before replying Eye-wink
(this was in reply to somebody else's reply which apparently has since been deleted)

re: We grabbed the tail

Hi there. I just read this blog here on Nov. 15th 2011. I was just wondering how your deal went on that 10 unit property. Did you find an investor with really big teeth like you were asking for? It sounded like a very exciting deal. I guess I am wondering in the back of my mind if it needed a rehab and what might that have cost. Also, was this in a bad area per the 70% occupancy. I am just learning but am intrigued. Just starting but committed. I think I can learn a whole lot through everybody elses experience. Thanks for your time. Donnie

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