11 unit-- cant close on - Posted by ProsperityGroupLLC

Posted by ProsperityGroupLLC on November 16, 2003 at 13:47:58:

I am in the process of purchasing an 11 unit building that brings in 48K per year in income for a price of 150K. Its in a good location, good condition, but is not likely to appreciate much. On the other hand, its a really nice property. Because I’ve bought other multi’s this year, I’m now property rich but cash poor, so I don’t have enough to close on this deal. Is it better to assign this agreement to someone who can close this week, or try to find a money partner?