All Forum Posts by: Mike M.

I have same issue with IPhone app as well. Occasionally it'll load more but may take two or three loads.

Or get both?

I just bought a house from an 82 year old lady. She's of sound mind, you just have to be more patient and talk a little slower. Luckily, her daughter was involved from the get-go, which was a huge help. I think elderly sellers are a good market - time and patience are your best friends.

Agree with everyone else - this is more like $30K. And bank on finding much wrong the inspector didn't flag. Share the report with the seller with a new price and be prepared to walk. Seller knows he/she will have to contend with them someday - maybe it'll work out for you. Tenant who can't afford gas is another red flag, especially in Indiana. What sort of tenant are you buying?

If you do purchase it with him in there, under what grounds can you evict him? Confirm that's a valid exit strategy before purchasing the house. Definitely be careful with the amount you offer sight unseen. I would not be surprised if a lowball offer either a) causes seller to become unmotivated, or b) she finds she gets along with brother well enough to let you see the property. You could play two offers against each other - the "I may can give you this if condition is OK" versus the "I can only give you this unless I can see the property". That delta can create motivation.

Minimal prospects for short term real estate market improvement. Shaky relationship with sister. Long-distance in a not-desirable locale. Owned outright. Worth more than rehab and selling fees, meaning profit is available. As a disinterested observer, I can't see why it's not listed at a price that'll make it gone as soon as legally possible. It's easy for me to fail to see the full picture, so am I missing thugs that are causing you doubt about moving it?

Joe Kim Possibly post tenant requests & resolutions for board's review? No one can tell you exactly what's reasonable or not as we're not familiar with the property, but the resolution may help to put the repairs in context. You may have tenants that want every fine detail fixed. My first tenants were like that. I fixed what I thought was reasonable and basically punted on the rest. Many of the "defects" were things my own property has and I live with every day. They have learned that I'll discuss items with them but do reserve the right to fix discretionary items.

Adam Moehn I'm no expert, but generally use your method #2. If I can have major mechanicals replacement costs accounted for in a purchase price that allows the numbers to work, I go for it. Buying at a discount, while not saving you cash on repairs up front, can provide a little cushion between all-in costs and sale price when you sell the property in the event your major mechanical replacement cost was higher then expected. Good question!

Kimberly T. It does - thanks for sharing.

Kimberly T. Is there any reason paragraph 3 wouldn't be applicable to dogs and their owners? Do you have experience such that extrapolating dog behavior via owner's cleanliness and responsibility isn't a wise move?