All Forum Posts by: Nolan O.

A rehab may offer increased COC, but also increased risk. I live down the street from you and have purchased out of state. Managing an out of state rehab scares the hell out of me. Perhaps that would change if I had someone I trusted to manage a rehab, but "rent ready" has been something of a requirement of mine when looking out of state.

What @April Crossley said: Figure out the real numbers and do a proper analysis. And what @Chris Grenier said: Look to other neighborhoods or markets if the numbers don't meet your criteria.

Is she planning a divorce or bankruptcy anytime soon? :P

Did you tell the agent that you have more questions or that the answers didn't fully address your concerns, or that you want to speak to the owner?

I'm not an agent or a lawyer, but I would feel OK reaching out, particularly if you were direct with the agent. You wouldn't be going around anyone at that point. You could even ask the agent to set up the call/meeting.

@Chris Mason, thanks for the reply. Your closing note is key, I think. FYI, the first question had a typo; I meant to ask if you would ever skip negotiation if the appraisal was LOWER than contract (i.e. eat the difference by putting down a bigger down payment.

I'm hoping to get the opinions of folks in the BP community on how best to use contingencies (inspection, appraisal) as negotiation levers. 

1) Is there a circumstance where you wouldn't renegotiate price if an appraisal comes back higher than contract?

2) Where would you draw your hard line? Appraisal price, somewhere in between?

3) At what point do you settle with requests to remedy?

4) Any tips on using an inspection creatively to renegotiate price?

Hey Patrick, 

I bought into Columbus early this year and am using RPM Midwest. So far they've been great.

Best,

Nolan

I'm new to Columbus and am using RPM Midwest. They've been great so far. Ask for Kacy, and tell her Nolan says Hi!

And if he's doing this as an LLC member, I believe he would have to register with CA (and pay the $800+ annual fee) for doing business in the state. Check here: https://www.ftb.ca.gov/businesses/New_Rules_for_Doing_Business_in_California.shtml

Shoot me a message if you have anything in Indianapolis.