Buying Owner Occupant
I would like to know what formula would you guys use for a purchase offer to buy a 3 unit rehap property to live rent free? 
I would like to know what formula would you guys use for a purchase offer to buy a 3 unit rehap property to live rent free?
Dear Juanky
Now now, this is creative time. Would you use the same line over and over while trying to create a relationship with a beautiful girl? Of course not, there is no such thing. What works on one will not work on another, I have the slap marks to prove it.
You look at the units, you establish what their value is as they stand or squat if in really bad shap. You look at the market and try and arrive at a figure they will be worth on that happy day when they are restored and humans can once more reside within.
You examine the owner. Why are they selling. Is there a foundation missing. Is the groundwater at a level of two inches below the overburden. Did the prior owner blow away his ex wife in a minute of negativity and her spirit wanders from room to room asking for a second chance? What is the motivation of the Seller. He is leaving for China to start over? He just sold his dog and cannot bear the pain? Whatever that tells you how to offer. Paper versus Cash. Paper that converts to Cash at some future date. Or Paper that generates income while he slowly grows older and older.
You must know these variables and then filled with Creative Zeal, you spring forth with the first of a series of offers that ends up with you in control of the property and living free in one of the units. That is A plus. Follow the above suggested procedures.
Good Luck. Lucius