All Forum Posts by: Matthew Wolf

Hi all, I have access to an off market deal, however don't have enough capital for speedy closings. I was wondering if there is a cash buyer in here that is in the area/interested in the area that is looking for opportunities? No junk.

Thx.

1 Vote

Tulsa, Oklahoma

Originally posted by @Jonathan Bombaci:

Originally posted by @Javier D.:

@Jonathan Bombaci

Try to scratch some more money for the safety issues such as electrical and fire escape from seller. Request another 100k and see where it lands. Do you have an agent? Even an as is contract as some room for substrate/safety issues sometimes. Cant hurt to try.

I already scratched $30k on the deal leveraging these items. It's an off market deal that was brought to me but it'll sell quickly, for more $, if they put it on MLS. Unfortunately this is the take it or leave it numbers.

Jonathan, I think you just solved your own problem. If it'll sell quickly and for more $ on the MLS, why don't you just do that? You'll pocket a %, still have cash, and can go find another deal. Otherwise you'd have to wait 3-4 years to see any return.

3 Votes

Buy it, do some minor renovations and rehab. After 6 months, refi and using equity gained from adding value finish the rest

8 Votes

If you were planning on holding regardless, the only difference will be that you will have no equity. If you were planning on doing a BRRRR that isn't available anymore.

If your goal was simply negating a huge chunk of your cost of living, that can still be accomplished

0 Votes

Different rules of thumb for different markets, if it's cashflowing negatively it certainly isn't a good deal for a rental property.

2 Votes

All Forum Posts by: Matthew Wolf

Matthew Wolf has started 1 posts and replied 5 times.

Post: Looking for investors in Tulsa & Owasso, OK area

Post: 0% cashflow for 3-4 years

Post: 0% cashflow for 3-4 years

Post: Investing in a duplex when you know the market is going drop.

Post: Property meets 1% rule but still doesn't make sense