All Forum Posts by: Stephen King

More general question -- is it normal to make offers with no expiration date? Or is it more normal to put a drop-dead date on them here? 

Thanks for the info. Full price, but owner finance. 

So I'm a little embarrassed about this, but....

I put in an offer on what would be my first investment property -- was so excited! Wrote the earnest money check, signed all the paperwork at my buyer's agent's office. Like most newbies I'm starting without a lot of cash, so I gave the seller some of what he wanted in exchange for some of what I wanted, figuring it was a good place to start discussions. Or end them. One way or another, though, at least I was starting to start. 

That was three weeks ago. I've queried my agent several times and keep getting a "he hasn't responded" response. I vividly recall the part of the mentorship I went through where he discussed how to set up the timeline on offers and contracts, with an expiration date on the offer and so forth -- aaannnnd, I just forgot about it in the excitement of writing. And I checked, and there's no place for it on the canned offer letter that the agent used.

So. What are my options? Is there any sort of natural expiration date for an offer letter? Or am I stuck waiting on a response to know whether the earnest money check will be cashed or returned? 

Thanks!

No worries! 

I confess, I didn't check anybody's feet for covering or not. :-) But the drive gave me a chance to listen to my current audiobook, anyway. 

I messaged my contact info. Look forward to next month!

The disadvantage of not having met anybody...asked a few hightop tables and got blank looks. Didn't figure looking for the feet in the one picture would get me anywhere good. Ah, well...maybe next month I will make it on time and know what a couple of you look like.

 It is, and there's another important point: "beer."

(to be honest, much as I appreciate the good folks at Northland, who are really quite cool to talk with, there's a certain utility in talking shop with people from my own state -- surprised me at first how much that dotted line on the map means to a lot of people)

Great; now I have to make a choice! :-) 

Northland REI is having a Cash Flow game that night, so I'll try to decide whether to meet up with the Missouri folks or my fellow Kansans sometime between now and then. One way or another, looking forward to meeting those of you I haven't met yet!

Stephen

I haven't joined MAREI yet, but I've been to one of their meetings and found it useful. I'm interested in going back, and would be interested in talking carpool. 

Stephen

I'm fairly new to Topeka, myself (since August). There is some discussion I've heard/seen about getting a REIA group meeting in Topeka itself, but as far as I can tell there's nothing going yet. I have driven in to KC a few times, for Northland Real Estate Investors and for MAREI (Mid-America) and have enjoyed both groups tremendously. Both of those are on Meetup. One is a whole lot more expensive than the other, but they're two fairly different groups. With everything going on in KC, though, it's struck me as a little hard to get those folks interested in lil' ole Topeka property.

That said, if you're interested in meeting, I don't mind meeting even for a morning/early afternoon coffee sometime once a month or so. Gotta start somewhere, right?

After moving around way too much, and a few years of quietly observing, I'm finally ready to do something. I was introduced to REIA by a few friends when I lived in Richmond, VA, and found those meetings incredibly useful. Bought a couple of books and read them. I even got involved in a mentor course for commercial real estate. I just haven't done anything, in large part because my life has been through a bit of turmoil.

I hold an MBA and a PhD, and currently work as an academic leader. In search of somebody with a pot of money to invest who doesn't want to do the work.... (yeah, good luck, right?)