All Forum Posts by: Matthew Murphy

Thanks John!

Scenario: Duplex each side is 2bd, 1 bth. Seller is offering to carry contract. Terms, purchase price $85000, Down payment of 20k. 10-15 year contract negotiable. Property needs minor rehab (5k), currently it is vacant. 

1st question:

What is the best approach and plan for engaging with a seller, offering financing, but the home needs work and they are overpriced?

2nd question:

Knowing they are over priced, what is the most strategic way to lower the price and their expected down payment? While not trying to upset them and blow the deal.

I have not contacted them yet so I am unsure how negotiable they are. Older couple (tired landlords) selling other properties as well.

Just trying to develop a game plan and approach for when I make contact with them. Thanks guys!

Brandon and Chris,

Welcome to BP! Awesome seeing guys with experience come aboard. Maybe a JV deal in your future. Good luck!

Welcome to BP. I also served in the Army (3 deployments overseas). I started my investing while on active duty. Be sure to take the time while overseas to learn as much as possible. Watch the podcasts, read the blog, and be sure to set up keyword alerts for the area you want to invest in. Good luck and be safe!

Just remember to account for property management into analysis. As you scale your business bigger eventually you will have to give up self managing, unless you get large enough to have in house PM. Multi's are the way to go, I don't even mess with SFH anymore unless it's a flip or just a screaming deal that I can BRRRR.

Welcome to BP. Always great to see experienced investors jump aboard. What niche do you typically invest in?

BP is great! Welcome. Be sure to check out the rental property analysis calculator, it is a very useful tool. Set up keyword alerts for your area. And attend one of your local REI club meetings, these meetings are a great place to start networking. Do you plan to self manage? Have you thought about multi family units? Good luck in your future investing!

Welcome aboard! Bigger Pockets is an invaluable online resource. Set up keyword alerts for your area! 

Welcome to BP. Be sure to set up keyword alerts for your local area. Find out where and when the local REI meetings are, attend one and start networking. Good luck!

Congrats, taking action and making deals happen! Keep us updated.