All Forum Posts by: Jay Yoo

@Nikki Closser Thanks for sharing this amazing deal. So the highlight on your deal is seller financing. How did you get the seller encouraged for seller financing? In other words, what made the seller accept the seller financing versus capital for him to have for conventional loan? Thank you

I don't know what classifications you are looking to invest in Portland but west coast.....Dead end to me unless you have a lot of capital. 

@Camden Kelly

Thanks for sharing this. Im in the the shoes although Im OOS investor. Expecting more on rehab.

My question is the last step on Brrrr. When you refi the property with bank and either heloc out to get capital to move on to the next step, Dont you need to pay back the loan? Heloc isn’t free money but it is a loan to pay back.

How do you plan carefully for your next property knowing that increasing monthly expense ( including heloc) to banks and invest capital for the next one? Can you share some knowledge that I am missing? Thank you

@Bradley Sriro

yes. Thank you I do know that strategy by Financial Contingency, which me and my agent were hoping to be happened to overbid others one year ago. Guess what?

Appraiser came in exactly as offered price because the appraiser was a part of contractor for my lender.

So that was my decision to say yes go forward it but very expensive lesson on me, and I tried hard to cover the cost for the past year. Now it’s time to back out and re-planned on the exact time soon. Thank you for your comments!

Thank you Bradley, I was going to do re-fi on the property, and decided to cancel the refi to sell and start over on properties that don't have HOA. However, appraisal was finished by prof. appraiser 4 weeks ago. And I listed on mls $270k, which is 10k more than appraised value. So it shouldn't be under value, I'm hopping. Of course, this will be first and last time FSBO for me from many valid reasons, and good responses from BP here.

 Thank you Jonathan, that's very straightforward statement that I didn't acknowledge. Helps me being humble instead of getting frustrated. I appreciate your thoughts.

Im selling a property that’s been only for a year. The new buyer will take the existing lease from tenants, lease ends next summer 2021. If I receive an offer, can I reference the seller disclosure from a year ago?

The reason why Im asking is that Im doing FSBO. i know you would say "get an agent"

but I would be loosing money if I get seller agent. However, Im still paying 3% for buyer's agent. Otherwise, no one will be looking at my property.

I signed up the fsbo online service for a flat fee and they provide a offer letter review for $100.

Question is

I have already filled up the seller disclosure and I used the previous seller's disclosure since most items are pretty obvious since it's a condominium. Any thoughts on this? Any problem?

there has been no changes since then except I replaced all appliances.

thank you all!

 Thank you Greg, that's exactly what I wanted to hear. Appreciate for your honest. 

Thanks for your replies. It's only been one year since I've purchased the property, and I learned the lesson about a condo and HOA. So I'm looking to invest SFH or MFH. However, since it's been only one year, I would actually lose money by selling with agents. NO margin at all. I'm just trying to pull out what I invested a year ago. The limited service Does have an offer review service for $95. I think I would go with them for this case, and this will be my first and last time selling FSBO. For now, I can't afford oil change that's expensive than the vehicle. Thank you,

That's exactly what I assumed. Glad I didn't ask. Thank you for clarifying my question.