All Forum Posts by: Pennie Nakashima

Thanks for your post.  We have switched our focus to buy and holds.  We have been property owners for about a year and things have been going well.   We have found minimal to no cash flow in this current market so have not made any deals this year.  We'd rather be patient than buy wrong.  So, we'll wait.  

Thank you Joe for your reply.

Pennie

Thank you Steve for your reply.  It makes sense.

Pennie

Hello,

I am trying to decide to purchase a pretty house that is in a great neighborhood but at market value. The house is a 3/2 and 2 car garage, brand new hardwood floors, built in 2003, fireplace, gourmet kitchen, low HOA, no CDD, community pool nearby, family friendly, and in an area with lots of new construction and development. The problem is the seller wants market value, ARV. She is a FSBO.

My exit strategy is to do a purchase lease option. So, after the purchase of the house, set up a tenant/buyer to pay 10 percent as the non refundable option consideration and after all is said and done a $300 cash flow each month. (PITI, PMI, HOA fee, 5% vacancy all included in the rent).

Question: Would you buy a house like this at the market value?

I am a REI in the St. Augustine area and would like to attend. Is this at the Town Center?

I'm a new investor so I'm not sure if this is way off but could you do a lease option / rent to own.  This way you can get non refundable option consideration, slightly higher cash flow per month, and then sell it to the tenant/buyer in 3 years.  Just a thought; it may be off base.

Hi Mr. Byers,

Thank you kindly for your reply.  I appreciate you extending yourself as a contact and a possible buyer.  I will definitely keep you mind when I come across a deal in St. Augustine.

Thanks again.

Pennie

Corey,

Thank you for your reply.  I really appreciate the tip and will try it.

Pennie

Thank you.  VERY HELPFUL.

I have used yellow letters complete.  You get about 10 percent response of your total sent out.