Mordy Chaimovitz

Can someone please explain to me why people are buying 2 flats that rent comps show $4,600 a month in income for 665k+? The income doesn't really cover expenses plus debt service. Even if you tell me they are paying cash or very high down payments , shouldn't the price of multifily buildings reflect its NOI/cap rate? Also, am i imagining it, or is there is no way these buildings will hold onto these values.

@Mordy Chaimovitz when I try to sell a client’s home with tenant in place, I speak with them directly to find out what works best for their schedule. Some want to be present for showings, some prefer only show while they’re at work. Some want specific day and time window. If my client wants to sell to an owner occupant, usually brings more competition and a higher price, then I ask them to give notice and we’ll list once they’re out as we cannot have tenant holding over and ruining the closing.