Do you know what to look for when you’re doing an on-site visit to a potential multifamily property deal?
Or what do you look for if you’re checking up on a property you already own but it’s being managed by others?
Hey Moguls, Chris Urso here with both of those aspects from two of my real-life deals.
Let’s dive in…
The potential apartment deal
So, I traveled over to Cincinnati to tour a potential apartment unit deal. 22 units completely occupied.
The reason I went to look at it is because we wrote an offer on it at about 40% off of asking price… and they countered. Right in the middle of that. So it shows me they’re motivated and that there’s flexibility on the seller side.
This is very good.
Let me throw some numbers your way…
They asked $512,00.
We offered $350,000.
They countered at $450,000.
So that’s why it warranted my on-site visit…
Okay , when…
Christopher Urso
is the founder of URS Capital Partners and National REIS. Chris has been investing in real estate since 2001. Over the years he has been involved in all aspects of real estate, from single-family fix and flips, buy and hold cash flow houses, and finally to apartment buildings. His real estate investment career only took off when he purchased his first apartment building 3.5 years ago. He now controls over $15,000,000 of apartments and has raised over $8,000,000 of private money in just over 3 years. He now structures investment partnerships to acquire large apartment complexes and also private coaches investors helping them purchase their own apartment buildings.