Buying under market value
I've been reading many posts the past couple weeks and notice that the majority of you buy residential properties at .60, .70 cents to the dollar, etc. on properties that aren't even listed on MLS....
Now, I understand the basics to the 2%/50% rule. My question is, have any of you bought a property listed on MLS that after crunching the numbers, produced $100 of cash flow per door? Even if you bought at .90 to the dollar?
I've seen numerous looking deals on MLS, here in Worcester, MA in regards to 3 and 4 family apartments. To me it almost seems like a red flag to get such a deal. Maybe its just the type of market here? Or no willing investors? :shock: