Advice on 24 Unit · Multifamily Strategy Community

Advice on 24 Unit

Hey, y'all, I put an LOI on that 24 unit I've been looking at and the owner balked at it as I offered a little below stabilized value $1.6M (generously). He's offering owner financing. I'm wondering if I should offer something closer to his asking price of $2M. It needs at least $250k to bring it up to standards and build out the basement (6 x 1/1 units). Maybe I should just offer the stabilized value and move on if he rejects it?

Thanks for all y'all's help!

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