All Forum Posts by: Bill Kennedy

Love how you outlined the acquisition, any updates to the deal?

Originally posted by @Jacques Herve:

Don't mean to rain on your parade but market looks at it as "assisted dying" now with Covid-19. Think twice before jumping in. There's gonna be a ton of those on the market.

Do you know of any on the market?

It depends, what price you have it under contract for. When you have a property under contract and you’re getting your inspections done these are the types of problems that the average person will not want to deal with. If the price is in line with your comps then you will need to renegotiate. The price of the property may already be reduced to compensate for these repairs. 

Run your numbers and see how much room you have if the property cash flows after repairs then you’re good. 

I would be upfront with them and ask them if they were aware of these issues and if they have any estimates already for the cost to repair. To pursue this further you will need to get your own estimates done so you will know if you need to renegotiate or not. 

Real Estate Investors really are problem solvers, they have a problem and you are going to help them solve it. 

Jesal Shah working with wholesalers can work if you have cash and can make a quick decision. My wholesalers here in Kansas City usually move their properties in days and they need work.

Remember you make money when you purchase so you might want to start looking now so you start to get a better idea of the market. It sounds like you banking on appreciation, your best bet is to make sure whatever you purchase it needs to cash flow out of the gate.

Welcome Sean, do you own both sides of your duplex? BiggerPockets has a ton of great resources. Are you looking for another duplex or are you planning on house hacking again in anyway?

Call Accurate Title. Tell them what your going to do and they will help you. 

 I would recommend you get started. If waited to go to work once all the lights are green you would never leave the house.

A buyer will do their own due diligence so I wouldn't  worry about the details because they may see things differently than you.

You should start as soon as you can trying to find deals. That's the hard part once you have a deal then someone will want to buy it.

You can add me to your buyers list. 😀 

Welcome to BP! Do you have any projects your working on right now?

Kyle Stoltz first impression is good deal. Make an offer and see how much deferred maintenance there is. How much do you plan to set back for maintenance and management?