All Forum Posts by: Jeff Hanson

Thanks Luc, had the same feeling regarding paying too much (setting the expectation going forward).  Would definitely take your advice and probe the likelihood of the investor continuing to come back to us with the other properties.  Appreciate your feedback!

We've come across a duplex that we're interested in purchasing (placed an offer on it of $137.5k), where the owner is a real estate investor at the tail end of their career and is planning on shedding their portfolio of 70+ rental properties over the next 5-10 years.  They countered us back to $152k (LP of $154k), and the existing monthly rent is $1400 (could potentially get up to $1600/month), putting this right around, or just below the 1% mark.  While this property breaks the rules we've set for our analysis/purchase criteria, I wonder if it makes sense to build a relationship with an investor looking to offload a number of properties over the coming years (as we look to pick up more and more properties).  Would love to hear people's thoughts!

Thanks so much for the positive comments!  Not 5 minutes after we placed our offer another offer was made, we stuck to our guns though and unfortunately lost the deal.  Won't lie, was pretty bummed about it, but felt better after reading your encouraging feedback.  Thanks all!

After two years of researching, listening to BP podcasts, many trips to the library, making countless spreadsheet tools for analysis, untold amount of time in thought, finally made our first offer on an investment property.  How does it feel?  LIBERATING!