Multifamily with unmotivated seller

[Michael Stutelberg]

Hoping for some others insight on this discussion I had with an owner of a MF property that is open to selling. The owner owes nothing in the MF. He is open to selling but is asking at least 50k more than the 0 vacancy NOI/cap rate estimates. Currently the MF is 12% vacant with relatively low turnover.

He is open to a contract for deed, but wants a large down payment and isn’t in a hurry to sell.

Have others had a similar situation and how did you workout an agreement?

[Marc Winter]

Stop right there!  Unmotivated seller = no or bad deal.  If you can't get price or terms, just say 'no'.  NEXT!