All Forum Posts by: Amaju E.

Hello ,

I submitted my first couple offers last week and one received a counter offer for a duplex in Atlanta. The property was initially listed a month ago for 10k less and the price increased a month later to 125k. I submitted an offer at the original asking price of $115k and the seller countered at $120k. The upstairs unit is currently rented and the downstairs is currently vacant, both units fully occupied should come in at a minimum of $1,250. The vacant unit will need a light/med rehab to get it rent ready. 

I should also add that i accepted the counter offer but on second thought was thinking maybe i should have countered back with my original offer of $115k, due diligence is 8 days.

 The current plan is to hold and rent. Comps in the area of recently sold prop are around 120k -130k. I am guessing the seller had increased the price to factor in some of the repairs that will be needed.  

Can anyone please share any thoughts or advice on what I should be doing next at this stage? Or things to consider which i may be overlooking since this is literally my first property and still building on my RE knowledge.

Thanks for the help, 

Amaju

Thanks!! @Brian Garlington

@Brian Garlington okay great. Thanks!

Hello,

I just identified an investment property I am interested in here in the Bay Area California. The current offer price comes close to the 1% rule after the rental income from the fourplex, and is able to cover the mortgage payment plus some cash flow according to a quick calculation I did.

I know I will need to act fast to stand a chance in this competitive market.. What should be my next steps? How do I go about making an offer? 

Thank you