Graham, WA · Member since 2017 · 33 posts · 10 votes
Hello, I'm a first time investment property buyer and I have found a duplex that is perfect (great cash flow, long term tenants, fantastic condition ect)
But it is listed at 329k and because if our down payment maximum we can only afford a Max offer of 315k and can't afford to pay closing costs at that price (unless they can be rolled into our loan maybe)
Anyway, the house has only been listed for a few days, the listing agent has gotten a few calls already. We understand its extremely unlikely we will get it accepted.
What strategy would you guys recommend to help give us a chance? Should I write the first offer with a letter explaining? This was all we could afford to offer and we have a 1 year old and trying to invest for her future or do you think we should just wait it out to see if it's still available in a week then offer? I would be surprised if it's not pending by then though.
Investor · North Charleston, SC · Member since 2017 · 277 posts · 91 votes
9y
Make your offer, Do include a letter with all the reason for your desire for the property, the reasons for investing for your child (maybe a photo of the baby) and your plans for the duplex in the future.
Rental Property Investor · Richmond, VA · Member since 2017 · 295 posts · 229 votes
9y
I would just put in the offer and see what happens. You don't know what type of situation the seller is in (urgency to get out, needing the cash asap, etc). And just because the agent has gotten a few calls, doesn't mean there were showings or offers to follow the calls. Good luck @Jayme Jahns!