Tuesday, April 7, 2009
4plex Investments in San Jose
There are some very good deals out there. And there is also a very fluid market too. If a property hits a certain price point, there are buyers who are lining up. I just went after a fourplex in San Jose. Decent condition, large property, fully occupied were the upsides. Crowded "fourplex neighborhood", not a great unit mix were the downsides. Approximately 4,000 square feet building with a short sale asking price of $675,000. After a few days, the listing agent has 5 offers! I'm sure this deal will sell very close to what they are asking or even higher. To land a good deal out there, I suggest being fast and when need be, aggressive. These low interst rates and low prices make for some very good cashflows. Buyers this year will be very happy down the road.