Should You Ever Pay Above Market For A Cash Flowing Property?
I'm conflicted BP. There's a legal triplex I'm looking at that would cash flow with my financing, market rents and expenses, BUT it's priced at or above market with at least $25K in renovations conservatively. I just can't find the comps to support the price in its current condition or even ARV. Considering my strategy is buy & hold, is there ever a time you would pay above market if other markers (cash flow per unit, cash ROI, ROI) are met?
P.S. - I'm already certain there will be the HELL NO crowd, but I'd like to ask anyway.