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by Steve Gillman
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an investor, so your offer will have to be based on your return on investment. This means you'll need to see the books. Specifically, you'll need to see the rent roll, listing the units and what they rent for, plus current occupancy, and operating expenses for the last year.
Have a confidentiality agreement ready before you call. Let the owner know that you'll sign it and deliver it to him before you see the books. He may not want to let the tenants know he's thinking of selling, so inspecting the units may have to wait until you make an offer. Just make an acceptable inspection a contingency in the offer.
Why is buy investment properties this way? No competition and no sales commission means you may get a better price. Also, instead of waiting for that perfect property to be listed for sale, you just find it now. Why wait until it's for sale before buying real estate?
About the author:
Steve Gillman has invested in real estate for years. See a photo of a beautiful house he and his wife bought for $17,500 on his home page, or go straight to the section on real estate investing:
http://www.HousesUnderFiftyThousand.com/investing-in-real-estate.html
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