All Forum Posts by: Joe S.

Thanks for the recommendation!

Hello BP community, I live in DC and I am looking for an investor friendly CPA in the DC metro area. Any recommendations? Thanks!

Congrats! @Tom Gimer on the new location. Exciting times !

That's what I thought too @Dan Bernstein, the last price drop was in March. 

That's a good point @Russell Brazil, I never thought about that. Thanks!

@Antoine Martel Thanks for your input, I will definitely move onto the next deal.

Hello BP community,

I finally submitted my first offer on a rental property!  It is a one bedroom one bath condo in DC, move in ready, and  furnished. It's a short sale. The condo has been on the market for 310 days and being sold as is. My agent, who is also a RE investor himself, was surprised how well-maintained the unit is. After four days from submitting my offer, my agent got back to me saying that someone had already offered to pay cash and more than the list price.

His response seemed odd to me, why would someone offer cash and pay more than the list price on a property that's been on the market for more than 300 days.

My question is, how can I confirm that this is actually what happened? And is this a legit concern I should have?

I am just a newbie trying to build a relationship with a real estate agent.

@Tom Gimer Thanks! That makes sense, my lender just metioned to me that they have seen buyers pay those fees sometimes but in return, the seller's bank had to accept a lower offer.

Thanks Carlos. Regarding the type of property to invest in, I live in DC and I feel that investing in condos (with low condo fees) will attract more renters who are looking to live in the DC metro area. However, I am always researching the market and I appreciate your input!

Hello BP community, I am looking into buying my first rental property and I came across a short sale 1Bed 1Ba condo. After looking into it with my RE agent, he informed me that there's a delinquency of 17K in unpaid condo and late fees. Who is the responsible party for these fees? Did anyone have to deal with this obstacle before?  Any advice is appreciated!