Updated almost 8 years ago on . Most recent reply
The numbers work out, but...
I'm looking at a quadplex out of state. I'm in California, the property is in Texas.
I have total faith in the real estate agent, as I have known her for 15 years and trust her judgement. She thinks it looks good and likes the neighborhood, even though it's not the best area. An "in transition" or "up and coming" area.
At the asking price, the numbers work out too, over $100 per door after 20% reserved for CapEx and Vacancy (total, not each).
But... I feel like this is one of those "if it's too good to be true, it probably is" moments. If it cash flows so nicely, why are they selling it? Am I crazy?
Most Popular Reply
Is the real estate agent who is evaluating it going to be managing it as well? Even though you have known her for years does she have any interest after her commission check from the sale? Did you find this on the MLS? Because if it was listed there then every investor in 50 miles has already checked it out and passed on it which should tell you something.