All Forum Posts by: Leigh C

school of hard knocks.    Very expensive at times though

Oh and I hope you make enough money to justify losing your friendship.    

50% to cash investor

25% to whomever finds the flip.

15% to GC 

10% extra to GC if its a heavy rehab, or 10% extra to the finder of the flip if its an easy one.

@Rob C.

Lack of information is why i said 115k.    If i 16k to make it "right" than I'd adjust down to 110k since i simply don't want the house at a higher price anyways.   I assumed that some of the repairs were done and that there was some reduction in the amount needed.    

As the seller I was just in this situation twice last week.    Both wanted 15-20k in work after they agreed to an as is sale.    We never attempted to market the home as turn keys however.....Anyways, one we signed a release since he stuck to the 20k reduction and the other we offered them a 5k reduction which they accepted.   

From my point of view, a buyer isn't entitled to buy a used house, find stuff that is wrong and expect to get it replaced with new material at the same price.     As a seller I'm willing to do it for 3-5% of the sales price, but after that it typically makes a lot more sense to fix the problem and remarket the house at a higher price.   

I'd give him a release and give him an amendment lowering the price down to 115k closing in 3-7 days.    Then instruct him to pick one to sign and be done with it either way.

My guess is he is doing what these people are doing (massive internet lead generation)   Just a total guess though :)

https://www.biggerpockets.com/forums/517/topics/24...

Lower your standards for the short term and invest in your business or pay down debt.    Buying isn't your solution at this time.   

Home ownership can wait....Congrats on the little one, once it gets into the school years reconsider where you live and I hope the debt has gone down and the income up.     

@Kevin Martin

@John D.

Kevin,  I believe i'm one of the few willing to work any part of the state and include mobile homes/condos in the list of assets.  I don't know of anyone else on these boards willing to do so.     As for what you would do, we all have the right to have emotional responses in business.   I prefer to deal with those only worried about the financial aspect of the transaction.   If you get so easily offended odds are you would be too difficult to deal with if a real problem in the transaction occurred.   

John, my hostile attitude is reflective of this communities inability to follow instructions.    I've had 20+ responses to the ad, many sending property.    None of which has fit the criteria requested.    I tried to convey a message that i didn't want people wasting my time.  It apparently has had the exact opposite outcome.    It is however very possible i'm simply getting only a portion of the garbage that would of been sent to me.   In which case the desired outcome has been achieved.   

Always take the listing.  Time (and their life events) typically will put pressure on them to lower the price and thus sell.   Typically you pick up buyers to transfer to a buyer's agent from listings anyways.    

A good listing agent carries 20-40 properties at a time.    You won't sell more than half them.

start as a buyer's agent and put your time in.    Anytime someone tells you they are an investor or looking to flip.   RUN AWAY, you aren't ready to weed through the ones that will waste your time and the ones that actually can make a decision then close.