All Forum Posts by: Chris Pasternak

Question: would you buy this deal if the seller wasn't your friend?

Talk to a Realtor in that area to talk strategy.  You want one that has sold places like these, someone familiar with investment property.  Maybe they're not as bad as you're thinking.  I talk to family members all the time that day it's horrible condition when really it's not that bad.  It's difficult for you to see as a family member sometime.  Objective Realtor point of view will help.

I'm not an attorney but I would recommend not telling buyers to waive inspection deadlines.  This leaves the seller and their property disclosure the only thing available in court when they fail to disclose that foundation problem.  That will be ugly.  "Your honor, I felt pressured by my agent and the seller to waive my right to an inspection"

Instead, be sure to state an inspection is limited to such and such or for informational purposes only.

My advice is worth what you paid for it : )

I satisfactorily used Southwest Title to close a deal in nearby Monte Vista.  Barb DeHerrera and Sheryl Duran helped us out. 

If they want to do an appraisal so what?  Whoever is more willing to walk away wins the negotiation everytime.  If they back out what's your worst case scenario?  You sell it to someone else for more money? Lol.  I would hope you have a Realtor and aren't relying on random people spitballing on a message board with not a clue of your circumstances beyond what you've divulged in a few paragraphs.  If you don't have great representation that understands your circumstances more thoroughly then...

Sometimes the truth hurts.  $4,000/month net or gross sounds painfully low for the area they live in but I'm basing that solely off the current market value of their house as you indicated and well, California cost of living.  Time to increase income or sell and start over somewhere else with no mortgage and no NEED to refinance (which is partially why they're in this situation to begin with).  

Maybe Biden will forgive your student loans and you'll have the ultimate real estate house hack triple back flip accomplished too.  Come on every post I see from beginners is coming from a place of desperation and impatience.

You guys are watching too many youtube videos.  Patience! You have a full ride and income dude!  Getting through school with no student loans is one of the best things you can possibly do financially at your stage.  Your next step is to maximize your income.  You're doing great! Stop with the distractions tell yourself and these goonies with these ideas "NO" a lot more often!

Hold on.  Did I read that properly that you signed a contract with your "significant other" to use his credit as long as you make due on your portion of payments?  

Now you know I have to ask what is in this contract and why did you make this contract?  Are you married or what is a "significant other"?

You're all over the place here and you've painted yourself into a corner only thinking you can buy property if your mom co-signs.  I don't know your family situation but based off of your age you need to be living on your own not co-signing property with your mom.  You don't make 100k a year so what?  Go make more money first and move out of the nest young buck.

Start by writing down a list of 100 people you know. Then proceed with telling them you're a licensed real estate agent and are available and eager to assist them with any real estate needs. Cost: minimal. I would then add FSBO to the list from Zillow. Cost: nothing. Before you call these people you need to internalize a script.

Good luck.  There are many ways to succeed for no to low expenses.