All Forum Posts by: Paul Bowers

Do you really want to be tied into this type of tenant for 18 months? If this is how the relationship is starting I can't see it getting any better over time. I'm not sure what the legality of now refusing to rent to him but I would certainly try to find a legal way to make that happen.

I would think you should be the one refusing to sign a 1 year lease with her.  She's $400 under market rent, why would you want to commit to that for another year?  

Great job, congratulations!  Looking at your rehab estimate versus actual looks like you would make @J Scott proud.  What do the the property numbers look like (purchase, monthly rent, etc)?

Have you countered the buyer you like better to see if they would match the higher offer?

@Rori Stumpf  She is an agent.  She has to be affiliated with a broker.  She's trying to sell properties without cutting the brokerage in on the deal, or so it seems to me.

@Senika Levias I may be reading too much into this but the impression I get is you are trying to do this "under the table" without your broker knowing or being involved.  Forgetting about the ethical side of this (cutting your broker out of a deal) for a minute, you need to be VERY careful legally seeing that you are licensed and wholesaling can be taboo for licensed agents.  I think the reason the experienced guys such as @Jay Hinrichs are avoiding a direct answer is because what you are doing isn't legit.

If I'm reading the situation wrong I apologize for jumping to conclusions.

Look at the top of your computer screen, click on the education tab.  If it's not there you probably don't need to know it!

You could start at your local REIA meetings. Network and meet people that are cash buyers. You could also have a real estate agent pull a list of recent cash transactions and contact those buyers.

If you truly believe you are right, list at the higher price.  The agent ultimately works for you.  That being said you need your agent to have some faith in your price and still work to market and show the property being confident when they talk with potential buyers.  I'm guessing there are some agents that want to list at a lower price to get the quick commission and try to make the difference up in volume.  You also need to be prepared to admit if you're wrong in a fairly short period of time and swallow your pride and lower the price.  You say your market is super hot, if you don't have a solid offer early on that probably means you were wrong.

 How much of a difference are you talking about?

Originally posted by @Shantal Lawrence:

Thank you Huy! At least you have those rich friends lol!

 @Shantal Lawrence welcome aboard. You do have those rich friends, there's literally thousands of them here. They may not be willing to just hand you money (at least not yet) but they are willing to give you more education than those student loans got you and for free. Read, interact, learn. Take your time.  Your new found friends will steer you in the right direction.