DOM for small multi families

9 Replies

Investors from Atlanta Georgia: How long does it take to sell a small multi? duplex/triplex/quadplex

If the deal is reasonable properties are moving in a hurry right now.

Originally posted by @Eric Halverson :

If the deal is reasonable properties are moving in a hurry right now.

 Hurry = within a week? month?

Less than a week based on what I'm seeing right now if its c or better and priced at the right #. (obviously some variables here).

I look pretty much every day for them; its a sellers market for sure.

For a reasonable price in a good area they are sold in few days :))) it depends how quickly you want it to go. To get the best possible price for your multifamily you may need to wait few months for motivated buyer

Thanks@Eric Halverson  

 @Jane A.

I'm actually looking to buy :)  

Just wanted to know if I can put a low offer for properties that are listed for a month. Thanks for your comments!

Originally posted by @Assaf Furman :

Thanks@Eric Halverson  

 @Jane Alstatt

I'm actually looking to buy :)  

Just wanted to know if I can put a low offer for properties that are listed for a month. Thanks for your comments!

 in you area you may need to bid up :))) you need to get a feeling what is a "good deal" in area of your interest right now and understand your bottom line. 

Days on market for off-market and multi-family properties listed on the GAMLS depend on how:

1. how hot the area is (location, location, location) and Atlanta has a variety of neighborhoods. 

2. is the property cash flowing?

3. Price

4. repairs

Originally posted by @Ericka Parrott :

Days on market for off-market and multi-family properties listed on the GAMLS depend on how:

1. how hot the area is (location, location, location) and Atlanta has a variety of neighborhoods. 

2. is the property cash flowing?

3. Price

4. repairs

 1. Northern suburbs up to 30 miles from Atlanta. You tell me hot of a location it is. 

2. Yes

3. cap rate 8-9

4. Assuming the property is fully rented and is well maintained so repairs are minimal 

@assaf I would really spend some time on your market research, if looking into a market to buy a property, most of the questions you have posted would be answered by analyzing the market in a little more detail. 

If you haven't already (and you may have) at minimum reach out to some local brokers and try to get a general feel, market conditions, DOM, current CAPs, etc. I have found that you can usually get a few to chat with you. Also, call the Chamber of Commerce in the area and talk to the economic development division and find out what is going on in that market, are they adding jobs? is there revitalization going on, or planned? What incentives are they providing to businesses coming in? etc. Call some property owners. By just working the old phone and little bit of your time, you should be able to get a good grasp of what is going on in the market, and whether it is a good place for you to invest to meet your goals. 

If you need ideas on how to reach a market, PM me.

Best,

Dave 

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