I definitely appreciate everyone's input so far! Thank you all!
We'll see how it pans out, I'll definitely be getting more info as time goes on. This won't be something happening next week. If it does work out I would guess it would be at least next year until it would go through.
AWSX1686 said:D2W said:Based on what you have said it sounds like the price of the business is more than just the cost of the 10 rentals units.
Actually, 10 rental buildings @ 1.5 mill, makes each property 150k. Not a bad price. Plus I have to see which properties he's actually looking at selling in this deal. I think 10 or so, but I don't know his full count. It is also 10 (or however many) properties, not rental units. Each property is pretty much at least a duplex, if not a 3 or 4 unit, plus at least one 6 unit.
That would be completely dependent on the properties.
I own 2 separate properties that I purchased for under $25K each. I probably paid too much. 
Get a CPA to go through things and listen to what they tell you.
You'll need to log in to post.
