All Forum Posts by: Timothy B. Dunn

A few months ago there was a conversation about placing a bid on a property that had multiple offers and the owner asked for everybody’s top offer.

Someone mentioned a strategy where you make an offer with a contingency that you will beat the top offer by 1k up to your top dollar offer. Does anyone know the name of this strategy?

Thank you

A topic came up on a different subject yesterday that I would live to hear opinions from veteran landlords on...If you have multiple highly qualified applicants for one of your units, would you consider opening up the property to the highest bidder as far as rent goes (similar to a bidding war on a property purchase)

So we just listed our first unit for rent on Cozy and FB Marketplace with amazing results. How do you handle the applicants that are paying for the credit and background checks that would normally qualify but will not be awarded to units do to a better qualified applicant? They are bound to be upset after meeting our minimum requirements but not being selected. Do I just explain to them that there was a more qualified applicant and that is the way the game is played??? We are feeling really upset that people are loosing money on the application fee during these troubling financial times.

Thank you in advance for your tips and knowledge

My home has very high vaulted ceilings, and use a telescoping pole with a suction cup on the end That I found at a box store to change the light bulbs.  this might be a cheap solution for a situation like yours if you don’t want to provide a ladder for the tenants to fall off of.    I believe the cost was under $20 and can be left in a coat closet on the property. 

Thank you everybody for your replies.  You have each given me direction.....  much appreciated

@John Thedford I am new to the world of wholesaling and some of the terms are foreign to me. What is the EMD? I am thinking something in the lines of earnest money down???

In many other blogs, especially ones that pertain to the Brrrr strategy, the goal of the purchaser is to find and make the very best deal possible when acquiring the initial property. So my honest question is what is unethical about what the original poster did in this case? It seems to me that he made his intentions clear to the seller who apparently wanted to get out from under a property that was a burden to the owner.

If both parties get something of value out of the deal, why is it unethical?

Please understand that I am not taking sides on this topic, just trying to really understand the concept and the proper way to conduct ourselves when trying to make the initial purchase.

I like the 10 year option as well.  It wold be great to lock in these low rates as long as possible....

Thanks again for all of your input, its very helpful

The llc cleans up the earnings for our family but adds complications in the financing area of the business. All in all it is freeing us up to take this adventure👍

@Maurice Smith This is going to be an investment property with tenants in both sides not an owner occupied property

@Anthony Wick Got it!  Thanks for the clarification