OfflineHola Famila,I seen this add on craigslist.I think its a great opportunity.I was wondering how would I go about getting this into my hands?I have all kinds of ideas going on in my head about it.Any advice would be great!!
Well maintained garden apartment complex, five buildings housing 32 units plus 1200Sq.foot commercial office/garage. All units are modern , updated. Tenants with longevity. Always 100% occupied. Excellent location near village of Catskill. 30% down, first mortgage, 30 years, balloon in five years, easy terms. Don't pass this one up. Excellent reputation.
Asking price $270,000
THERE IS MONEY TO BE MADE BUT NOT IF YOU KEEP SPINNING YOUR WHEELS,AFRAID TO MOVE FORWARD.JUST DO IT AND DONT LOOK BACK.AT SOME POINT YOU HAVE TO TAKE YOUR CHANCES AND PROCEED.
First is the $270,000 the amount down (full price $900k?)
Is the remaining mortgage owner financed?
What is the cash flow on the aparments?
At first glance this looks great, however whenever something looks great I'm curious of the reason they are selling.
Ask what the current financing for the property is?
You may be able to expand on the owner financing bit. Let us know and we'll see what angles we can work!
Chip & Andrea Weule
AC Investment Group, Inc.