Buying Property From Another Investor
Hello, I am a new RE Investor with one Quad. I bought this quad from another investor less than 2 months ago. He has more property that he wants to sell. 3 house & a duplex with total rents 1300 dollars. I looked at properties which are all on the same street. The neighbor does not look that pleasant and there were a lot of people sitting around the houses. The properties are about 46 years old. What should I ask the Investor that is trying to sell these properties. What should I look for. I think he wants to get out of the properties without fixing any thing. I told him I would look at properties and let him know. He said if I was not interested he was going to list them with a realtor. What should I do & ask. What perks if any should I get. I am open for any ideas
[ Edited by itlot on Date 02/19/2007 ]
[ Edited by itlot on Date 02/19/2007 ]
How much does he want for the properties? Terms?
Chris
He has not told me yet. I will have to ask him. My mortage brokercounselor told me I could not buy another property for at least another year.