All Forum Posts by: Kalvin Wilburn

Money is money - whats the seller appeal to cash over lender funds?  Would a seller be enticed to sell to a non-cash buyer with a SLIGHTLY higher offer and pre-approval letter?

I've analyzed several MFHs that make for awesome deals.  However in each of these deals, there's three little words hidden in the description - "cash offers only" that completely derail any momentum in securing the property.  (I'm not in the position (yet) to purchase MFH with cash.) 

I have been the recipient of a cash offer before and the only benefit I can remember is a faster closing timeline.  But..I couldn't have cared less where the funds came from as long as the correct amount was liquidated.    

Lastly, each of the properties I've analyzed have been on MLS for atleast 90 days - double the average closing timeframe. Wouldn't this be incentive for a 'cash only seller' to accept full offer amount in the form of a pre-approval?

@Seth Teel, @Rick Pozos, @Joseph Cacciapaglia I really appreciate your analysis.  With this being my first true rental investment your advise is highly valuable.  

@Bjorn Ahlblad skipped you on the reply, but I'm estimating $1000 - $1100 per month based on similar sized homes in the area.  

Joseph, thanks for the insight.  I see you're a real estate agent, any similar properties you can suggest for investment?

My realtor in San Antonio advertised a Tiny Home project and I'm tempted to buy, but also hesitant. The tiny homes start at $130K new construction and believe them to be severely overpriced for this market and house size (700-1000 sq ft).  

But..analyzing this property, it could net $400-$500 cash flow per month; plus the Tiny Home trend has done well in Austin, and I don't want to miss the San Antonio wave.   I've attached the link to the property below, any input would be appreciated.  Thanks!

https://www.zillow.com/communi... 

@Owen B.

Divide and conquer, I like it. I may consider a similar approach, just not sure I’ll have trustworthy people to fill those roles before I depart next year.

Thanks for your feedback, I’ll be in touch.

@Mike Ko

My numbers include insurance and property taxes (I should have mentioned that).  

Im estimating monthly cash flow at $300 - $400, not including property management fees.  

Im fielding property management now, and purchased 'Long Distance Real Estate Investing' book to aid in what I should be asking/looking for. 

I'm playing the long game with this one, and I intend to rent for the duration of the mortgage (30 years).  But if things don't go as planned, I'd look to sell to cut losses.  Are there different exit plans I should consider?

Thanks,

Kalvin

@Owen B.

The house I'm buying is being built in Asan, on Nimitz Hill.  

What's your plan of managing your property while off island? - My chief concern.  

Thanks,

Kalvin

Need advice..to hold and purchase or back out.  I'm in the process of purchasing a new construction, single-family house in Guam.  Considering Guam is a U.S. Territory, many of the same rules of purchasing in the states apply here.  

The house is worth $385,00 with mortgage/escrow estimated at $1,900 monthly.  General market is military, with most given a housing stipend maxed at $,2450 - $2,600 monthly.  Rules are what's not used cannot be pocketed (if rent is only $2,200 per, service member can't pocket the remaining $250-400 monthly), which encourages renters to max their housing stipend in return for better quality housing. 

The house is situated in a desirable location and the military is set to increase by 5,000 Service Members (and families) by end of 2021.  

My concern is property management and maintenance of the house.  Property managers are scarce and the environment on Guam deteriorates houses at a much faster rate than in the states.  

I'm set to close in May.  Should I continue with this purchase?  Your perspective would be greatly appreciated.