All Forum Posts by: Jason W.

@Heather Moore I agree with Grant and Antoine about not "rubbing it in there faces". 

Keep in mind that some owners let their taxes get delinquent because they have a more pressing short term need for the capital. They might not feel like it's really an issue until they are actually in danger of losing the property. (Not my mindset personally) Until then, it's like  expensive vendor financing from the local gov. The point I'm making is, the tax issue may NOT be that strong of a motivator or negotiating point, because the owner may know (or think) they can resolve it before it causes big problems. So you might be prepared with a strategy that takes that into account too. 

The 1% rule is commonly used to price real estate for sale in my area (Southern Indiana). I know from analyzing many properties that a property priced like that will almost never work for me as a rental, so I typically don't even consider them. What really matters (IMO) is what kind of return YOU want. You have to analyze the deal according to your standards and offer based on that. If his 1% price works for you, great. If not, you can try to negotiate. But remember your goals and don't accept a low return just to make the deal.