Updated over 2 years ago on . Most recent reply
Working on figuring out possibly my first deal!
Hello all, long time listener (1 year), first time poster! Just to preface my current situation a little bit, I work at an electrical distributor in the area. One of the owners of the contractor that shops with us frequently has a couple rental properties, and he’s been tossing around the idea of getting away from the residential rental space. I’ve been asking him about the property quite often, which is a triplex. One unit is a 3/1 and the other two units are 1/1s. I’ve been using the calculator to play around with what the numbers could look like, and he’s considering working out a land contract deal. I have a feeling that if I can give him really good concessions from my part, he’ll be willing to work out a no-money down deal with me. How often should I pursue working out a deal with him on this property? He’s very much over the fence about it right now, but I’m still pretty excited by the thought of it. Any pointers or advice would be greatly appreciated!! Happy investing!