It can't be a good deal, or someone would have already bought it.
Hello All,
Brand new member, second post ever. I am currently researching prospective MFHs for my first rental property with the intent to buy soon (my houses closes the 22nd, which is going to be used to help with the 25% down).
I have a question for the more experienced investors on this site, so basically, everyone.
I tend to find a prospective property, research the areas and statistics, and if it seems potentially profitable I run more detailed analytics (including the calculator on here).
The problem is this:
The best properties with the best cash flow, profit margin, ROIs, etc...all seem to be properties that have been sitting 200+ days on the market, sometimes much more.
My first train of thought is if it was really this good, someone would have bought it up months ago, right?
Besides the obvious (my numbers are off, i.e. estimated rent value) is it possible, or more important, even probable properties that have been sitting on the MLS for 6+ months or 1+ years are actually good, positive cash flowing investments?
Do any of the veterans on here immediately rule out a property based solely on it exceeding a certain time frame on the market?
And of course, if it is possible...why haven't these MLS lifer-type properties been snatched up yet?
Thanks for the future reply guys.
-Tim