I want to buy this quadplex but...
This will be my first purchase in real estate and all the numbers look good that I am looking for, specifically cash on cash return. But I do have some reservations. This quadplex last sold only 3 years ago and was exactly 100,000 dollars cheaper then the current asking price. It has had some renovations including newer roof, windows and 3 of the 4 units have been upgraded throughout.
I want to buy it around 15,000 less then what it is asking for. But even still it is hard for me to grasp the high markup of this house and the fact that it is over 100 years old.
I guess my question is do you only worry about the numbers and if they meet your parameters then you should pull the trigger, or does the age of the home and the high markup justify my concern.
My plan is to rent all 4 units out which is currently the case.