AN
Negotiating well is only half of the equation. The other half is really knowing my market, communicating well with other agents and determining the right time to strike.
4plex,
For the record I never tell my clients about potential capital gains nor would I ever. I told my client it was was close to cash flow and if it went down much further than 250K it would be very appealing to investors strictly on a financial basis. When prices go that low it will be tough to find one with as good a location and potential as this one. It was certainly among the best I’d seen in several years.
What makes me think a 200K gain is possible is that the location was spectacular and a decent remodel after milking it as a rental for 10 to 15 years would create an absolute jewel relative to the area. If I bought it today at the price I wanted, I think I could probably have made about 50K flipping it. I also believe that we will see yet another cycle reach its peak whatever that may be in the next 15 years. The 200K opinion was mine alone and one I believe based upon data and familiarity with the area. Worst case scenario you’d have a great rental property that cash flowed well in 10 years IMO.
