In order for a bank to feel comfortable with the value of the property, they have to get an appraisal and in order to get one, there have to be recent sales comps in the nearby area. 

After 60 days on market with no applications, I pressured the PM to lower the price of the units to list competitive to nearby comps.

As you meet investors who are actively pursuing the same goals you have, invite them to jump on a call, grab a coffee, a beer, lunch, dinner, or meet up to ask questions. 

We’d be comfortable in the $XXX–$XXX range based on what’s selling nearby and the rental income potential.

That said, it’ll take some legwork to build a local team there, so weigh that against the convenience of having people nearby in Philly.Also consider checking out parts of the Midwest cities like Cleveland, Indy, or Kansas City often offer better entry prices and stronger cash-on-cash returns.

This allows us to get a rent premium over prior owners and nearby competition. 

I'll meet you for coffee!!!

How does it compare to nearby properties? 

I'm a licensed agent and for anyone with small multi family properties nearby Joliet - I can execute on a deal quite quickly. 

@Mark Anthony College Park near Woodward Academy and nearby has some very good investment opportunities though on the high end.