All Forum Posts by: Account Closed

4 years ago offered 1/2 price for an REO, we negotiated price to 40% below ask. Now banks r getting offers over ask on REO's.

While not extemely common, there are MULTI's that belong to HOA's. Only one I've considered purchasing the building owner paid the HOA.

• Friend had a section 8 tenant that never purchased her infant diapers, the mom kept a mop bucket out and just cleaned off the floor.

Yes, my first home had a boiler, the biggest drawback is leaves you dealing with window air conditioners more often than not.  They are more complicated to work on also, parts harder to find and more expensive.

Someone with a minor drug conviction could have pleaded it down. Criminals are  drawback of MULTI's put a greater part pf your portfolio at risk. 

Oh, and they are raising debt ratios also!  

Derek, FNMA just changed the rules on the student loan calculation to allow use of the actual payment only, should help a lot of younger buyers qualify.  Not sure when the change becomes effective, was in WSJ last week.    

One of my rentals turns over often in an area with limited rental competition, people tend to be very forth coming when they call. Another rental is in an area with intense rental competition, most callers are a PIA, they know they are in the drivers seat, often no show on appointments, show up late, the list goes on.     

So looking through MLS expired listings looking for patterns, so far properties needing extensive repairs seem to be a significant portion of expired listings.

Wondering if raising the Co-op commission on those types of properties,  would effect sale potential more than raising Co-op commission on well kept properties? 

Unless the seller is a bit slow, they are going to expect a low offer from someone going to the trouble to send out mailers. You have marketing cost to recapture! Bottom line, might be their bottom line, not your presentation style. Assuming they are not real slow, a big concern for them if they agree on a low price is your actual ability to execute the transaction. That would be the point most critical to drive home to most sellers.