Posted by Laure on January 02, 1999 at 21:56:51:
If you don’t qualify for financing, you will get your earnest money back. If you are turned down on financing, the owners will want to get the property back on the market right away, you probably won’t wait till Feb. 1
What are the rents on the three units? Are they worth more than what is being charged right now? 30 year mortgages are not pretty, I agree, but there may be an opportunity to increase your cash flow. Are there garages that you can charge addl. rent for? Is there extra storage in the basement or on the property that you can charge for? People pay a lot of money to rent storage space… just some ideas.