I'm looking at a property, the owner is willing to finance under the condition that he manages it to ensure a positive cash flow. Is this a good idea, has anyone done this?
If he wants to sell it why does he want to manage it? If he was a good manager and it's a good property why would he sell it? Something is not right.
Agreed. I would never finance in the first place unless there was something wrong with the property or I was getting a lot more than it was worse. And I definitely wouldn't want the headache of managing it if I wasn't going to be getting paid extra for it.
Of course, there's no harm in doing your research.
How many places do they own?
How many do you own?
Do they own a property managementcompany?
He is an agent and I believe he owns six. Why he is trying to get rid of them I don't know.
I will be owning this from a distance for some time. It has great #s, this would be my first multi unit.
The whole thing sounds weird to me, and that's what I expressed to my agent, basically a WTF?
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