All Forum Posts by: Will G.

another vote for andrew's suvgestion, ask for extension and deliver all units vacant.

Typical seller shenanigans, i like to call this market "turd flush time" cause most of the stuff out there are the poor performers, junk, that others need to get rid of!

thomas s nailed it! now if you could build and specify components to make it work better for the long haul, like metal roof, granite counters, real wood cabinets, stained concrete floors, no maintenance exteriors etc, i wonder if you would eventually save money?

@Chrissy Parsons

I have been trying to stay in Blount but the radius of consideration keeps growing. I keep hearing the same thing from owners of income properties, "if I sell what will I do with the money?" 

It is like cash is worthless....Thank you Federal reserve!

Get to know your target area and keep watch for deals that make sense, but generally value investing is dead in this segment of the cycle. Rising interest rates are supposed to throw some water on the market fire, but nobody knows the timing!

The most important thing to learn and understand is the r.e. cycle! Work against it at your peril.

oh man, it is ugly for buyers out there, just posted this,

https://www.biggerpockets.com/forums/311/topics/58...

I have been experiencing awful conditions as a buyer, expected to pay record low cap rates AND accept giant material defects, quickly and with cash!

Sellers are  trying to unload turds to unwitting newbies and unfortunately they are!

My last attempt was no exception, seller wanted 5 day inspection on what was billed as primo condition 20 year old property, he blessed me with a 6.5% cap rate and "misstated"

Expenses, followed me around during inspections telling me over and over how the neighbor next door is ready to purchase if i dont, never mind the failing brick siding, lack of house wrap, broken, non working windows, rotten decks,etc,etc.

BUY IT NOW ask questions later cause there are 10 people behind you who will be happy with making zero for 3 years!

You can keep this stupid market! 

4 acres is plenty if all useable, but what does the county have to say about density, # of septics per acre etc?

there are large enough gaps around some windows to scope it

Inspector came back with disappointing news on a deal I thought was golden.... all brick structure was built in 2002 with out housewrap or felt paper, just brick veneer and osb sheathing behind. Confirmed in several locations. Also noted some water intrusion on upper floor window jambs.

Seller says tough s**t!

Big deal or not?

He also noted some movement in the brick and I am worried there is rotting osb behind the brick.

Next thought is reselling and disclosure down the road