All Forum Posts by: Alexander M Petersen
Alexander M Petersen has started 1 posts and replied 2 times.
Post: [Calc Review] Help me analyze this deal
- Real Estate Agent
- Tucson, AZ
- Posts 2
- Votes 0
Thank you, thank you! Trying to get my feet wet with real estate and wildcat country seems as good a place as any to start.
I appreciate the insight and absolutely see what you're saying. I spoke with my agent and we're going to do just that, move forward to inspections with contingencies in place to be on the safe side.
Post: [Calc Review] Help me analyze this deal
- Real Estate Agent
- Tucson, AZ
- Posts 2
- Votes 0
*This link comes directly from our calculators, based on information input by the member who posted.
Hello everyone! I'm thrilled to say that this is my first time posting here on BiggerPockets! First off, I am really excited to start meeting the members and getting any input that I can. Eventually, I would love to be able to do the same for others out there! With that said, I guess I'll just dive right in!
All numbers are actual figures from the seller. Currently, the property is fully occupied and being managed by a local team. Asking price was originally $225,000, but for the area and other comparable properties, my agent and I decided $180,000 was more reasonable. Received a counter offer asking for $215,000. Running the numbers, I told my agent I was more comfortable with $205,000, but would agree to $215k if it meant getting the property. To make a long story short, my agent was able to negotiate the price to $205,000, but the seller says they will not make any repairs to the property. I'm looking for any kind of general feedback or thoughts about all of this. One question I have, should I be concerned that the seller does not want to make any repairs to the property? It's being marketed as recently renovated so to me this feels a little off putting for some reason. Also, when/if I agree to their conditions and move into inspections, if something does come up that needs repairs, can I then at that point ask for a price reduction or credit to mitigate some of the costs? What exactly are my options?
I'd like to thank everyone in advance for taking the time to help me out and I am looking forward to hearing from you!