All Forum Posts by: Bob Razler

Well @Michael Delpapa , my only advice is DON'T LEAVE MIAMI BEACH!!!!  :-)

Hello @John Whitridge :  

I was in a similar situation recently.  And I too was happy paying the original price as the numbers worked well.  The issue is how much you can borrow to buy it and whether you have the extra cash to kick in to finance it and if the deal still makes sense with the extra cash in.

I had several options (which apply to you as well):

1.  Lower the price to the appraised value (rejected/declined - I actually didn't have to present this as they made it clear they weren't coming down);

2.  I finance based on the appraised value and the seller finances the remainder (they would hold a note for the difference);

3.  I kick in more cash which didn't make sense at that point.

After going back and forth for maybe a month the seller agreed to split the difference.  They lowered the price by about 5% and I kicked in the extra cash.

Bob

Hello @Brian Dickerson :

Congrats on your decision.  Looking forward to hearing about your success.

Also, I think you made the right decision first.  Many people feel that you need to manage your own properties.  Personally, I think the decision to self-manage depends on many factors that are specific to you and not the industry.  How much do you value your time, etc.  

That being said, as you have already decided to use a PM, then there is no reason to be limited to any one market.  BP is full of investors who own properties far from where they live.  I would just encourage you to find markets you feel are good investments (emerging), research them, visit them, build a team there and jump in.

Best of luck and keep us updated on your success!

Bob

PS drop me a line and let's chat and meet for coffee.  I am always happy to meet new investors in our area.

Hello @Ilona Kovacs :

While I am not a specialist, I have worked in homebuilding for many years and have a few contacts.  If these are residential or future residential, drop me a PM and we can chat.

Thanks,

Bob

Welcome @Dre Meesh !!!!!

Always great to meet another local.

Let me know when you have time and we can chat and maybe meet for lunch.

Bob

Hello @Pat C.  

Welcome!  Let me know when you have time to chat and we can talk.

Bob

Hello @Pat C.

Welcome!  Drop me a line when you have time.  We can chat!

Bob

Hello @Oscar Jacome 

I hope all is well!!!

Bob

Hello @Allyson Gehring .  

I highly recommend @Kim Meredith Hampton as both a  realtor and a PM.

Good luck!

Bob

Another great meeting!  Thanks to everyone!