Making an offer on a multi-family property
How should one go about making an accurate offer towards a multi-family property that does not have a listed price?
Most Popular Reply
Most apartments don't have a list price. Typically they have a "whisper number" which is a price the broker will tell you. However, whatever they say should have little bearing on your offer. Some brokers like to put out a relatively low whisper number hoping to create a feeding frenzy. Other brokers give out a high whisper number, hoping someone overpays.
What is critical is that you know how to run the numbers so you can decide what YOU can pay to hit your financial objectives.