*** An update to everyone who read my post last week. Bottom line transaction fell rate ...

*** An update to everyone who read my post last week.

Bottom line The deal fell

An important lesson for all of us to learn:

Unlike Single Family, Multite will usually have tenants, at least the deals I'm looking for should be 100 occupancy
When I received the numbers from the broker who of course reported that he had received them from the owner
Apart from rental income there is another column of additional income, at the time of my inspection the owner had to transfer all the paperwork such as leases, tax payments, income, expenses etc.
When I went through the numbers and made one and another one I found that the eggs claimed that he was paid for the parking but in fact he did not receive, not only did not receive, but those who pass the grammar on the lease can find that the parking is also rented together with the apartment at no additional cost. Each apartment received parking except for one apartment that paid for it.
The difference was about $ 2600 per year which according to the price we closed before he had to give me now 25000 USD discount at the purchase price.
Of course he did not want and had no choice but to withdraw from the deal.

It's no fun to lose a deal after you've already done Inspechein, but I'm also glad to find that point and move forward, giving me confidence that next time, if there's a problem, I can find it too.

Do not think I came back empty-handed!
I knew super nice people, a great management company in the suburbs of Chicago if anyone wants a recommendation and tomorrow Thursday I have an important super meeting that came out of this whole thing.
I'm already waiting to see what will be cooking at the meeting.

Returning to the table to analyze more deals ...
good day everybody!