All Forum Posts by: Faith Kirk

We have been looking at properties to invest in and have made some offers on the very low side. We have not had any of our offers accepted or countered. Today our offer was countered. I like the price we started at and know that we could go higher. The counter was 10K lower than I expected them to counter at. We offered $129,900 on a 2 family fix and flip or potential BRRR that was on the market for $159,900. It had just been lowered to $159,900 from $189,900 so I was not expecting any counter but certainly not for the owners to come back with $139,900. The property is not in a war zone. It is in a high rental town. My question is, should I come back with another counter of $134,900 for example or just take the $139,900. The numbers work for a profit at $139,900 or even a bit higher. I am just looking for some reassurance and experienced minds to chime in. I am excited to get started with the rehab portion of this business and want a reality check from those that know better than I. Thank you in advance for your advise.

Thank you for the comments. I double checked my numbers for the 10th time and realized I had the maintenance in very wrong as well as a few other numbers incorrectly entered. I appreciate the feedback. :)

Thank you so much. I will modify my numbers. 

I am so very new to RE Investing and analyzing deals. We are thinking about putting an offer in on a property for $129,900 and with an ARV of on the conservative side $211,000. I was thinking we could do a BRRRR with this property as it is a highly rental area. However, when I entered the information into the calculator, it came back with a negative amount per month. Any feed back would be appreciated. I am sure there is user error somewhere.

Thank you 

Faith  

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*This link comes directly from our calculators, based on information input by the member who posted.

@Ned Carey Thank you for the advise. It is very helpful. 

@Ned Carey Thank you. I have also started to look at properties even put a couple of offers in. They were low offers and not accepted. Probably good since I am not ready. Going to see properties and going through the motions of making the offer, and analysis of the property was educational. I am also going to look into learning the area I live by just driving each street "driving for dollars". 

@Brent Paul 

@Brent Paul Thank you. There are a lot of Podcasts. I am getting started on them. 

@Christopher Orr Thank you so much. That is a good point. I have been shifting my time onto the Bigger Pockets forums trying to find my way. Feeling slightly lost but hoping to see the light soon. 

We recently formed an LLC in a different state than where we do business and live. What is the correct state to file our LLC tax return? Thank you

New to the site. New to Real Estate Investing. Looking forward to learning. Any advise on how to wrap my head around all this new information is welcome.