Its an apartment complex on S Dooly st. , Montezuma, Georgia 31063.
Not sure of the market condition,
Neighborhood and some insight with help. I am going to some more research today. But any help would be appreciated.
Thanks
Deepika
I've been looking at the same deal, came across it posted on Houston Craigslist. I've emailed back and forth with the owner some, says he bought the place this year, rehabbed it, and is selling to get his cash out. It's a 20 unit complex that has 15 units rented out. Manager lives in one and 4 units still need rehab.
What doesn't make sense to me is why the current owner left 4 units to be rehabbed? I asked him, but hasn't responded. If he had 4 more units cash flowing, it would better support his asking price.
I also am somewhat unsure about having a property manager who lives on site. If this complex is owned by an out of state investor, it seems preferable to have a management company that would provide more stability rather than having to basically rely on a tenant to manage. What are people's thought on live-in property management?
Deepika Tandon , let me know if we can work together somehow or if you have any desire on trying to partner on this deal.