Creative offers for underperforming multifamily
I'm sending a LOI out next week for an underperforming 36 unit multifamily in the SE. Seller has it significantly overpriced, but the listing agent has given some indication that he understands the property's issues and may be willing to come close to my strike price (she doesn't know that number.). Seller has many more properties and I'm told he's selling these to free up capital.
I'm going to put out two numbers, a low price that is justifiable at an 11cap and a higher one that includes seller financing and repair credits. Any other creative offer suggestions that may make this win/win? Thanks!