Negotiating list price on multi family

[Kenny Oliver]

Hi everyone I've been checking the market for some multi family properties in my area but when I do my calculations -mortgage ( redfins estimate based on 25% down and my preapproved rate with a conventional loan) -expenses (water,trash,sewer,insurance, maintenance) Everything seems to give me negative cash flow Anything above the 300k range seems out of reach for me. Have you guys negotiated a property that costs 400k down to 300k before? Is that even possible? It seems the only way to get a good deal on these properties is to lowball by 100k-150k All help is appreciated.

[Jimmy Murray]

Kenny Oliver You're best bet may be to talk them through the numbers.

Presenting the realtor with your analysis of the property may help coach them to your price point.

When you start including things like vacancy, capital expenditures and property management fees, these are fees a realtor sometimes overlooks in a P&L.

I have previously negotiated a deal down. Y almost $80k. It all depends on your approach and consistently following up. Let them know you are very serious and can get the deal to the closing table