All Forum Posts by: Brock Maggard

@Lien Vuong

He did not mention any comps.

I’ve only found two properties like this in terms of land and the outbuildings which are critical to me. They are listed at a similar price but wouldn’t work as well for me for various reasons.

My resources are limited but I couldn’t find any recently sold similar to this.

I’m looking for advice on making an offer for a primary residence. The property comes with the house, 20 acres and a shop that I can run my primary business out of.

It’s listed at 225k and it’s been on the market for a full year. They originally listed it with 40 acres for 285k then dropped it to 275k. Then they made an arrangement to separate half of the acreage and dropped it to 225K.

The agent that showed the property to me recommended I put an offer in at 207k Which he said was asking them to pay closing cost. Which would be essentially the same as offering 200K and paying closing cost myself.

This seems like an odd way to structure it. Why wouldn’t I just offer 200k and pay closing cost?

We are ready to put in the offer in the next few days, and I’m wondering, since it’s been on the market 351 days today if I should go even lower. Is there any harm to putting in a first offer at 180K.

Full disclosure, I’m willing to pay 225k but obviously nobody wants to Pay more than necessary.

The house is 1800 square-foot with a very large screened in porch and an office that aren’t included in the square footage. It has an oversized two car garage, two nice shop buildings, and a stocked pond.

The agent said that there will be no issue with the appraisal, so how should I go about the offer to get the best deal possible.

@Gil Segev

My hope is to eventually contract out a lot of that labor, or hire my own employees which I’ve already done in another business.

I don’t want to do it right away though because I want to make sure I understand what goes into each job so I understand what the contractor is dealing with and what a fair price is.

I don’t know if a low-cost house like this is still profitable if you contract out the work

The video below is a walkthrough of my first investment property.

Between the purchase price and the renovation cost, I have $32,000 in it and I am refinancing it into a $40,000 mortgage.

Other than me being the worst narrator ever what do you think of the house and the deal I made on it?

I originally wanted to do 3 to 4 houses a year, but I run 2 other businesses so I may just try to do one a year for now.

I did all of the work myself and it took me right at six months

Cheap BRRR rental house, infinite ROI

Cheap BRRR rental house, infinite ROI https://youtu.be/pAFQ4stALmk

I'm trying to calculate cash flow on a rental property that I am about to refinance for the BRRR strategy , And I don't know what to put for an interest-rate.

I haven’t applied for a mortgage in 10 years at which time my credit was not very good and neither was my interest rate. My credit score is currently in the low 700s .

I honestly don’t even know what a good interest-rate is and if I’m not at least close, then it will throw off the numbers.

Thanks

Thanks 

@Daryl Luc

Honestly, it’s probably not something that you could easily follow up on or prove, but I felt like having them sign off on it would be a deterrent.

I just downloaded The lease agreement from my pro membership and printed a copy for my first rental property that will be occupied next week.

The agreement looks good except I don’t see anything about smoking and I would like to specifically exclude that.

Is that something that is commonly done? Can I just type on their end a new paragraph in my own words about smoking(or other things that come to mind)?

Thanks



View report

*This link comes directly from our calculators, based on information input by the member who posted.

I don’t see how to post pictures from the app