The minimum offer wise will consider must be $450k any offer in the $300's when asking $545 seems very disrespectful and will not even be considered so if that's your offer it will not be accepted Now we have fielded a ton of questions regarding this unit so we will try to give answers to the most commonly questions we have been asked this is a multi unit commercial apartment in one of the top investment real estate markets in the country. in fact, the Wall Street journal listed Toledo, Ohio as a top 5 affordable markets in the U.S . this is a one-of-a-kind unit even appraiser could not find any comps This unit is already producing income & will bring in 10-15% return on your investment annually all units rent on a 1 yr lease Can generate approximately $65,000 per year annually in rental income ($5500 per month) The bills average (lights, taxes, insurance, water, grass and snow removal cost apprx $900 per month) leaving you a possible net income of $4600 per month great investment!! there are not too many investments that are near risk free where you can reap approximately 10-15% guaranteed monthly returns on your investment beginning the month you make this purchase the owner has owned this property since 2001, 24 years, and this is not a desperate fire sell we will only sell if the offered price is right. the owner is also aware that a. the median sq footage price in Toledo, Ohio is $109 per sq ft. this unit is being offered for $92.56 per sq ft b. every 4 unit or more that has generated at least $3000 per month in rent within the last year has sold for at least $400k. this unit will generate $5000 please do not call to 1. ask to list with a broker; the owners are not interested in listing with a broker / agent- but we are open to working with a buyers agent 2. no owner financing will be considered over 2 years. If owner financing is considered buyer will need over 60% of purchase price as a down payment & the remaining amount would have to be paid within 24 months or risk forfeiting their down payment. I have to say this because someone asked us would we be willing to do a 50 yr owner financing 3. Since you know the asking price ($545). You know the minimum we might consider and you know what we want consider it's your job to make a reasonable offer and start receiving this monthly income So please make your first offer your best offer because that may be the only offer you get to make Furthermore, we're not going to go back & forth arguing about what we want we don't care about how many properties or deals you have or made in the past. we don't care about what price another property is selling for Nor your personal finance issues none of that has anything to do with us or what we want and nothing anyone says is going to talk us out of what we are looking for Many people have asked why hasn't this property sold is something wrong with it Nothing is wrong with this unit other than its only being sold by owner and there are no agent or broker involved and it's not on the MLS. Which is where approximately where 84% of agents show properties to potential property buyers because it's generating great cash flow it doesn't matter if sell today or 2 years from now the price is not going to go down if anything it will only go up as the market goes up 1. We need need proof of funds to indulge in deeper conversations I hope that we pre-answered most questions possible we hate to have to be so bold and blunt however respectfully fielding all calls has led to a lot of disrespectful offers and comments. therefore its just time to weed out the garden. last but not least thank you for considering our property and we hope to hear from you soon.
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