Need advice on purchasing a 23 unit apartment building.
Hi everyone,I have plenty of experience in 3 family units and landlording and love the cash flows they produce.I'm ready to venture into bigger units but nervous as hell to take the step.So the owner wants 1,3950.000 which is over 60,000 a unit ,2 bedroom units,ave rents are about 822.00 per month.I will be meeting the owner tomorrow to get more info.What is a quick way to gage this property, property has been available for over a year ,when I spoke to him about 7 months ago he want 67,000 a unit.This property has not been listed for sale..Let me know how I should approach this.