Deal or no Deal on 4 plex?
So I'm negotiating with a seller right now & thought I would put my question out here to see what other people thought. I am trying to buy a 4 plex & the owner has come off the selling price by only 5k. I am sitting at about a 6% cap rate with the deal sitting this way. I will have to pay a 9k sewer assessment with things the way they are at the moment. I've asked the seller to split that with me...but he came back & said no...but he will pay for a home warranty ($1500 roughly). Would you let the deal sit & wait or would you just do the deal? I hate to loose the deal over 5k... but Ideally I want at least a 7% cap rate... of course that is not a hard fast number it's just what I set out to get. FYI...this is my first deal.
All opinions are greatly appreciated!
Steve.