Hi All, Real estate beginner here!!
Hey bigger pockets! new investor here from Tucson, Az. I have had some small involvement with the community, but as Josh, Brandon and David always say participation on the site leads to deals and friends so... like i said before i'm new to the real estate investing world. My father, Grandfather and a lot of family friends have been telling me to get into the game already so, I'm 29 my wife is 23 we are considering purchasing a couple of different duplex's that investors we have relationships with are offering to us. I work as a welder metal fabricator 9-5 and my wife is a sales associate. We can't wait to close our first deal (we have been saving since January) the investor that owns the duplex we really want (very close to the U of A and st. Mary's hospital, and Pima community college) has agreed to a ten grand down owner finance deal the property has been depreciated over the last fourteen years and the purchase price for this owner was $133,500. I am trying to structure a deal on terms with the seller now. He wants to fix it up (re-appreciate) the asset so that his capital gains tax from the sale won't be so crazy. I want to buy the property depreciated at least slightly so i will have more equity for an infinite return after a future refinance. If you have any creative conversational ways of persuading someone in a situation like this I'm all ears.
Thanks in advance, Joe Watson (oh yeah i listen to the podcast all day, I alternate between real estate guys, bigger pockets and millennial real estate investors.)