All Forum Posts by: Tony Velez

That's a good question. I'm looking to buy my first property but my thoughts keep going back to what if taxes go up? What is the cost of your new insurance? 

@Alberto Carrillo CT is Connecticut 

Hi,

I have a friend who is looking for a single family rent to own in Connecticut. Please pm me if you know any properties. 

Thank you 

Tony

So at 200k do you think it's s good deal?

Move to CT please

yes that's what it looks like. Thank you. I'm looking at the property tomorrow with the home owner. We will see what he has to say. 

@Kim Knox thanks for the input. I do have a realtor. We looked up mortgage history. Looks like he bought the house in 2008 for 152k with a mortgage of 175k? Sound like he financed with no money down and a rehab loan? Not sure does that sound right? 

Also looks like another mortgage was taken for 185k in 2009. Maybe he refinanced? 

@Wayne Brooks ok that's what I thought. There's no way he can take less than that correct? 

I'm meeting the seller tomorrow. I'd like some help on questions I should ask. 

Hi,

I found a 3 family house I'm interested in. I talked to the realtor and she said they would like to move quickly because the house is close to being foreclosed on. I haven't seen the inside of the property yet. I also found out the house was under contract but the deal fell through. According to the real estate agent the buyer was being difficult and picky. This info is from one phone call with the agent. they are asking $226,000 but she claims they need as close to 200k as possible. 

Now according to my analasys the numbers look great at 200k. My only concern is according to the tax records 2012 the taxes were almost double the property. I'm nervous about this possible major tax increase. It boils down to what the new assessment would be in 2016. The properties are assessed every 5 years. 

My question is obviously this person is a highly motivated seller. How can I negotiate with the seller on asking price? 200k would be way too close cash flow wise if the taxes go way up. Obviously he's motivated to sell. Help me out with some suggestions on offers? Thank you!

Here is the property.