All Forum Posts by: A.S. Minor

@Gigi Sanchez thanks! I I'll definitely take your suggestion regarding the multiple inspectors. I appreciate your input.

@Matthew Ringer I plan on living in it for a couple years and then renting it out. My ultimate goal is to build up a decent portfolio of SFHs.

@Nicole W. Thanks for your response. I did a walk through and didn't notice any issues with the roof, but it's definitely something that I wanna go back and check on. I plan on living in it for a couple years and then renting it out. Do you think being on a major road effects the price?

I have been searching for a while now, and I think I have found a property to consider as my first purchase. Before I made an offer, though, I wanted to get the advice of some seasoned investors here.

I'll post the link to the Zillow page below. It's a 2/2 SFH, with 992 sq feet. Everything in it is relatively new or in good condition, except it's missing a fridge. It's also on the intersection of a main street, though parking is ample enough to still allow entry without it being much of a hindrance in getting out. The A/C is an older model, but seems to be working fine.

It's been on the market for at least 3 months, and has had at least one price cut of $5K. It's listed at $205K. My budget is $200K, but since it's missing the fridge I am hoping that we can negotiate that down below my budget. Ideally, I'd like to offer $180K. Do you think that's doable? Do you think it's a good deal, even at $200K?

https://www.zillow.com/homedet...

I have been searching for a while now, and I think I have found a property to consider as my first purchase. Before I made an offer, though, I wanted to get the advice of some seasoned investors here. 

I'll post the link to the Zillow page below. It's a 2/2 SFH, with 992 sq feet. Everything in it is relatively new or in good condition, except it's missing a fridge. It's also on the intersection of a main street, though parking is ample enough to still allow entry without it being much of a hindrance in getting out. The A/C is an older model, but seems to be working fine.

It's been on the market for at least 3 months, and has had at least one price cut of $5K. It's listed at $205K. My budget is $200K, but since it's missing the fridge I am hoping that we can negotiate that down below my budget. Ideally, I'd like to offer $180K. Do you think that's doable? Do you think it's a good deal, even at $200K?

https://www.zillow.com/homedet...

@Jason Scavilla I got it, thanks. I'll reach out later this week. I look forward to talking to you.

@Jason Scavilla I can definitely understand what you mean. That's exactly what I'm looking for; not a lot of necessary work, except maybe cosmetic, and in a decent price range.

@Jason Scavilla thanks for your input. This was exactly the type of discussion I was hoping for. The pros and cons. In this case, I'm financially able to handle the expenses. Her business ventures have always been handled by her, whereas the housing is generally handled by me. My concern is the cash flow, as @Nick Louie mentioned in his comment. I don't mind being patient, but I also want to be as pragmatic as possible in regards to finances.

@Jason Scavilla Having gone the SFH route for your rental properties, do you see any advantages of that versus MFH. Obviously the cash flow is greatly increased with MFH's, but I would imagine the mindset behind being a renter of SFH has its own advantages, right?

@Nick Louie I see what you're saying. The first house would only be an expense. Any cash flow that would be coming in would be going towards paying off the mortgage, and I'd even have to go out-of-pocket to continue paying. It makes sense, and that's why I initially was interested in getting a duplex or triplex. In trying to compromise with my partner's goals, though, I figured that it might be okay to accept that liability for a couple years, because once we get the second house and rent out the first one, then the cash flow would increase. The dog boarding would be traveling wherever we go, so regardless we'd be generating cash flow from that with very little overhead.

However, I do see your point, and ideally I would like to go that route. I'm just struggling between the idea of patience. Do I compromise with my partner, thus possibly extending the timeline of my real estate goals, or do I ask her to wait a few years, thus extending her personal timeline?