All Forum Posts by: Don Hines

We held our second open house yesterday. Now I have a delima to solve.
I HAVE TWO OFFERS!!!!! Both require about the same in seller's assistance.
Both are good with one being a full price offer and 3% assistance. The offer has $0 earnest money but a prequalified buyer. The buyer has been through a "training" course similar to NACA. But, it is a state sponsored program that I didn't know about.
The second offer so far is not as good. But it is a straight up prequalified buyer offering almost $5000 less than the first with $500 earnest money. I have told their agent to have the buyer reconsider the offer and gave them till noon today.
Should I be concerned with an offer that does not contain earnest money. I really don't have any doubts this deal will go through. I want that $5000!!!
Don
PS
Both are prequalified.
Don

Joseph has already gave you good advice. That being said, I accepted an offer on a house that I priced about 10% over the market last night. It is in the price range you have mentioned. Everything is new with ss appliances. I put laminate counter tops in though. It has a double whammy WOW factor over the competition. Now let's see if it appraises.
Don

I lost my fanny leveraging silver at around $5 over 25 years ago because of 2 brothers (The Hunts) hogging the market. I have always been leary of leveraging anything knowing just two people can screw up a whole market.
Don

I don't think it will impact what I have been able to buy in the last couple of years. They were not habitable anywho.
I actually have inlaws that are in a bank owned home they are paying rent on now after letting their own home go into foreclosure last year. It WAS a very nice house. I figure it will be in rough enough shape that i can put an offer on it in another year or two.
Don

@Sanjiv Neal
That is exactly my game now. I don't look forward to being a landlord. But, my wife and I are looking at carreer changes. I think if i was full time at it, things would work out better.
Don

I got addicted to a fishing forum a few years back. I learned so much, that I can catch fish anytime I can get away on the lake. Now I check into BP 4 to 5 times a day instead. I sure hope investing gets as easy as fishing.
Don

A savy investor here in town tells me that his proforma on a property has to indicate he will get his cash back in two years. I have not been successful in finding a property that meets that criteria, the 2%, nor the 50% rules.
Don

Looks like little pellets. They burn too. Once they are pointed out. you will realize you have seen it a million times.
Don

Thanks Tom
Wishing you success and happiness.
Don

Subterrainian termites will always have tunnels that lead from their source of food and water. Unless their food is close to the source of water; IE a roof leak. These tunnels are acually made out of their poop and will burn like a firecracker punk. Look for these tunnels around the exterior and interior of the foundation leading to the ground where they get their water from. They are treated with chemicals at these sights. Sometimes you can break these tunnels and actually see the little boogers traveling through them. In extreme drought conditions, you might see these tunnels hanging from the ceiling like ice scycles. Don't be surprised if they eat the paper from your drywall. I have actually seen them in news print stored in metal warehouses.
Formotion temites do not return to the ground for water. I don't have a lot of experience with them. But, I do know they are a bigger PITA than the subs. When you see a structure tented and tarped, more than likely, it is being treated for formotions.
I am not a pro. I just learned a lot in a law suit about 30 years ago. I still look for termites everywhere I go. It is a curse.
Don