All Forum Posts by: Garrett Amundson

@Marita Jojo It sounds like you are getting the home at market value if the appraisal came in right on the number. If you are putting a 20% down payment you have comfort in knowing you still have equity in your home from the start. Also if your in this home for the long run as a buy and hold rental then the market correction wouldn't have a huge impact because even if we see a small correction in the market you holding long term are going to regain the appreciation down the road plus possibly any sweat equity you put into the home as far as possible remodel or anything you do to improve the property.  

Hi @Marita Jojo! I am not sure how long your escrow is, if it is a 30 day close or what the number is but have you already removed all of your contingencies on the property especially the inspection contingency? I have a deal closing next week and after talking with escrow yesterday there is a potential for a delayed closing if in fact county offices close and we are unable to record on the contract date. The DRE has come out with a new form as of today that is called the Coronavirus Addendum/Amendment (Form CVA). You may want to look into that if you have already removed all contingencies as if you fit the criteria for it you may be able to still get out of the deal or at least extend escrow and possibly get some more negotiating in. Another thought is I am not sure what the financing is like that you are getting but depending on what it is you could have a Appraisal Contingency that could be used to renegotiate price or get out of the deal especially if it is over priced and there are no comps to support the price. Please let me know if I can help in any other way. 

Hi @Aaron my name is Garrett and I am originally from Woodland. I currently work for a New Home Builder and I am also a Realtor in the area. I believe I may be of some help with your situation and will send you over a PM. Look forward to talking with you soon.

Hey @Robert C. I have a couple that I use fairly regularly that do a great job and are thorough. For home inspection I use Daniel Stevens and for Pest/Termite Inspection I recommend Cameron Chambers. They both work for HomeGuard and you can request them specifically. Also if you get the home and pest inspection together they will inspect the roof for free as well.

@John Apple I would do what ever you can to not cut your commission just for the sake of getting a listing. Prove your worth and that you deserve every bit of the commission you are proposing. Don’t let the aspect of you being new force you to do that for the sake of a listing. Any referral that the sellers may send your way are going to come in to it expecting for them to get a discount as well because their friends told them what you had offered them. You can do it just keep grinding, go after your sphere of influence and something will come along.

@Chris Bendorf I just sent you a request to connect, lets set up a phone call and talk some more about all this if you would like.

@Chris Bendorf Welcome to the community!! This is a fantastic place to learn and take in the knowledge from a ton of very smart people! I agree with Mike, if you look for a new primary residence make sure your home now would cash flow positive when the whole home gets rented. A really cool option to get the better financing for buying a new personal residence is maybe think about getting into a Triplex or Fourplex! You can live in one of the units and rent the other 2-3 others and have your mortgage covered plus some cash flow potentially and then keep that going because your next home you look for yourself you would then have 4-5 doors bringing in the income! Would like to talk more with you, reach out to me anytime!  

@Nigel Ford I would definitely check out the rental numbers they seem to be under valued for the Sacramento area. Your operating expenses you figured on $736 but what about your mortgage, insurance and also your mortgage insurance payment due to the FHA loan. I figure your house payment a month is probably around $1850 or so. See what you can do about the rent rates and if you live in the 2 bed unit and rent one of the rooms out to house hack this place for the year to fulfill you FHA requirement then it may work out, just double check your numbers.

@Gordon Cuffe Will do! Thanks again for the help!

@Gordon Cuffe Thank you for the advice! Time to get after it and do every thing it takes to get ahold of the owners to see if they are willing to sell. Would you say that getting them to sell if more difficult then finding a buyer for the property??