All Forum Posts by: Faith Kirk

@Hai Loc You are correct it is getting cold. I am in NH. I though the same thing when the sellers lowered the price from $189 to $159 then had no problem coming down to $139. Now I know why. During the showing the realtor told me that if the sellers did not get the property under agreement soon they where going to rent out the empty unit. During the inspection, we learned that the unit cannot be rented out as is. There is a plumbing issue in the bathroom which is why I think they came down so dramatically. 

@Karina Turner It is hard not to get frustrated but we are looking at this as a learning experience. We would need to really low ball with the system issue and the plumbing issue. My partner is going to talk to our realtor today and discuss what we found and give them the new number verbally. 

@John Teachout - Thank you. This is our first property to get this far and we are going to verbally offer the lower figure and if not OK with the seller, we will walk away. 

It is hard though. I feel as though I missed the issues but we also learned a lot in this process. 

Thank you all for your thoughts. 

@Timothy VanWingerden When you learned that you were 35% over budget where you able to recover from that error? We had our home inspection today and it came to light that there is more work needed than what is on the face. We can back out of the deal as it was contingent on a satisfactory inspection to us. I am frustrated that I missed things I should have seen and now we do have an out or we can negotiate a lower price due to the inspection contingency. Little frustrated at this point. 

@Kyle Mccaw - That is exactly the colors I want to do. Simple and any decor will go for the most part. Thank you

@Kyle Mccaw Thank you I was thinking of light grays on the walls and white in the kitchen for the cabinets and white appliances for the neutral factor. YES BUDGET is KEY! I am thinking constantly of ways to save. I have no problem being new doing some stuff myself. I may not enjoy it or be good at it but, I think some stuff while being new I can do to stay on budget.  

The ball is rolling on our first Fix and Flip. We have a signed agreement and the inspection is tomorrow. I have been through inspections before but as a home owner to live in. I want to be sure I am participating with the appropriate eye tomorrow. I have my list of things to bring to make notes, take measurements and lots of pictures. Any advise is welcome. 

Thank you in advance

Faith 

@Dmitriy Fomichenko Thank you so much that is a lot of reading that I need to do. I appreciate your effort.

@Lily S. Thank you This is helpful information. 

@Justin Windham THANK YOU!!!  Those are questions I would not have known to ask. I appreciate your help. 

So everyone that was kind enough to respond and give me some advice, I wanted to let you know we decided to accept the counter at the $139,900 with the caveat that nothing comes up in the home inspection that we may have missed when we looked at the property. Paperwork to be completed today. I am so excited for this adventure and the feedback from this group is needed and welcome. Thank you so much. 

@Timothy VanWingerden Oh My!!! I have gone over my numbers a lot. I know there is always a possibility of error which I hope when I make the errors they are not to terrible and we can work with them. Thank you for your words