I have 1031 money to invest...have name 3 properties already. The 3rd one is a duplex that with current rates will just break even (could cashflow once current leases are up and we can raise rents). The seller so far hasn't been willing to come down on pricing that would help make it cashflow right away. Since properties have been named ( and I can't look around for other ones at this point), would you recommend putting more money into property #2 (which is a new build turning into a STR, so will cashflow but not for a 8 months to a year) or pushing for this 3rd property? What creative options can anyone think of for me to bring seller (has been on market for 2 months and is now a bit high on the asking price with the cooling of the market).?!
The Seller marker is starting to cool off, the property has been on the market for 60+ days, for me, I would have him come down on the price and if he refuses, I would go back to the table double/triple check my numbers and if they don't work, walk away, let the seller know it's not a workable deal and if he changes his mind to let you know.