Property sold every 2 years, should I buy it?

Question

I’m looking into this 2 unit building and I noticed that the property has been sold every 2 or 3 years, I’m confused on if I should proceed with the buy or back out?? Property looks great but with it steady being sold is it something I don’t know or what????

Jeremy Lane · Answer

@Theresa Harris ok got you thank you so much

Theresa Harris · Answer

Even if it goes down, if you are holding the property and don't intend to sell it when the market is down, it shouldn't matter.

A condo I own is in a group of 12 units.  Some of the units have sold 2-3 times in 5 years, others never sell.  Now part of it is they are 55+ units, so a few have been estate sales (the one I got).  There is nothing wrong with any of the units and the manager does a great job with the complex.  I'm sure some of the units turned over quickly as the price has increased over the last 5 years.

Jeremy Lane · Answer

@Theresa Harris the market is going up then Tremendously goes down then goes back up so right now it’s up but I wonder if I get the building would it go down again that’s the tricky part...

Theresa Harris · Answer

What type of market is it in?  If the market is increasing, they may have sold it to get at the equity in the property.

Scott Passman · Answer

@Jeremy Lane  There are lots of reasons a person might sell a property. Certainly perform your due diligence, but if the property and the numbers all look great then I wouldn't let something like that stop you from buying it.