I am looking at a couple of duplexes...I've walked the properties, met the tenants, (most are long term-ers). Now time to make my calculations, so wondering if there is a different 'formula' to use when considering the numbers and making offers...I've got 2 recently sold very similar comps in same area. Also, one is a short sale, one is a foreclosure. Both are package deals having identical full 'sister' units.
What about rent rolls? I heard someone refer to those...anything else I need to verify?
I know the short sale process can take longer (60-90 days) as opposed to SFH which closes average 30-45 days, or less. And I've got some other info. from my agent to go by. Trying to compare apples with apples...
Anyone who has experience with multi-family props (duplexes)?
Short sales? Foreclosures? Procedures? Want to brief me?
Just basic particulars; important things to know, pitfalls, etc.
I would greatly appreciate someone's help.
Thanks in advance!
__________________
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe
I am looking at a couple of duplexes...I've walked the properties, met the tenants, (most are long term-ers). Now time to make my calculations, so wondering if there is a different 'formula' to use when considering the numbers and making offers...I've got 2 recently sold very similar comps in same area. Also, one is a short sale, one is a foreclosure. Both are package deals having identical full 'sister' units.
What about rent rolls? I heard someone refer to those...anything else I need to verify?
I know the short sale process can take longer (60-90 days) as opposed to SFH which closes average 30-45 days, or less. And I've got some other info. from my agent to go by. Trying to compare apples with apples...
Anyone who has experience with multi-family props (duplexes)?
Short sales? Foreclosures? Procedures? Want to brief me?
Just basic particulars; important things to know, pitfalls, etc.
I would greatly appreciate someone's help.
Thanks in advance!
Happy Prospering! ~Kat, Liberty Residential Investment Acquisitions
• "To every thing there is a season, & a time to every purpose..." ~Ecclesiastes 3:1-8
• "Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy!" ~Dale Carnegie
• "Begin, be bold, and venture to be wise." ~Horace
• "Never, never, never give up." ~Winston Churchill
• "Whatever you do, or dream you can, begin it. Boldness has genius and power and magic in it." ~Johann Wolfgang von Goethe