When an investment such as your multi-family property is offered to the market but doesn’t sell, it’s time to figure out what went wrong and change it. Because there are buyers looking for investments.
Usually, the reason falls into one or more of 4 categories: Price, presentation of the financial documents, marketing, and negotiations.
We’ve talked about all 4, but just to recap:
The Price must be determined based on income potential versus expenses. The buyer isn’t going to live there, so extra amenities only count if they mean higher rents.
The presentation is all about presenting the financials, not about creating a desire to live in the property.
The marketing is different from single family home marketing. When we market multi-family…