All Forum Posts by: Account Closed
Account Closed has started 29 posts and replied 150 times.
Post: Getting back into the business
- Posts 162
- Votes 73
Can you post more specific numbers? Are you paying cash?
Post: Paint running down the joists in bsmnt. What is it?
- Posts 162
- Votes 73
RUN!
Post: Tenant moved out and so did the mechanical equipment... more....
- Posts 162
- Votes 73
The police will probably say it is a civil issue.....next
Post: How to counter a seller financing counter offer?
- Posts 162
- Votes 73
I made an offer on a multi, which included 93% seller financing. I offered full asking price ($400,000). COC = 17.2%. Seller countered saying he will finance 50% (COC = 7%). This all done without ever meeting face to face. I'm very excited because that alone is a heck of a feat. Here is the problem: I don't know where to even begin countering.
If I was going to put down $200K, I'd put it down on an $700-$800K deal, which would be almost double the units, with a commercial loan.
I'm not sure yet, the seller's motivation for the 50% down counter, probably just a trust thing....I will try to find out. Any ideas on where to go from here?
Post: Best Apple laptop for real estate?
- Posts 162
- Votes 73
Macbook AIr is awesome for the price. Def macbook. And I used to say I hated them. Just takes a little to get used to. They don't slow down like a windows unit. This one is 3 years old and works like the day I bought it.
Post: Why is my rental application taking so long?
- Posts 162
- Votes 73
Either drive there or wait till Tuesday.
Post: Why is my rental application taking so long?
- Posts 162
- Votes 73
I don’t know why they would request first months rent before you’re approved. sounds weird.
Post: Why is my rental application taking so long?
- Posts 162
- Votes 73
It’s saturday. Drive there And find out. Did you apply online? Maybe a scam?
Post: Why is my rental application taking so long?
- Posts 162
- Votes 73
Only one person knows. And that’s the property manager.
Post: First time- Seller Financing for 4plex
- Posts 162
- Votes 73
Originally posted by @Anthony Wick:
When Brandon or the other moderators/BP employees find a great deal, it's "way to go!". Janice finds a great deal and the first two comments are all snarky. Hey Janice, ignore all these people that are being jerks. You worked hard, now get yourself a lawyer and get this under contract. But, I do have one question for you....what are the terms beyond the price (interest rate, amortization period, balloon, etc)? I only ask, because you're putting 20% down, which is what you could get from a bank. I hope the interest is also lower than what you could get from a bank.
First thing I thought!!! It's not her problem if they don't know their property value. We also don't know the specifics. Maybe it isn't worth 280.