All Forum Posts by: Zac Boelkow

Thanks everyone for all the tips, advice, and suggestions. By using “never split the difference” principles and sticking with this deal I was able to get the seller to sign a contract today on the exact terms I originally offered! And some!! We will be closing in less than 30 days...🎉👏💪🏽💥💥💥

Vanguard seems to be a great long term  investment

@Rob B. Great advice! I think that’s exactly what I’m going to do. A short lease to get me to the best month for me personally then one years lease after that. 💥

I have a duplex that both leases are due to renew in November. I am thinking April or June would be better months. April I feel like there is more tax money for people to get in to rentals. June I feel like school is ending and people have the availability for moving...

@Ola Dantis possibly, probably, true and correct. For me a lot of investing is the chase. Working hard to negotiate good deals that work for everyone. I believe in people and enjoy working with people even though sometimes I should just move on. I think this is what has made me successful thus far. Of course you’re correct that there comes a time to move on. I’m just not at that point yet...

@Kiley N. Yes the #’s make sense at 150k @ 3%. I even offered to sign five year lease agreement between all parties involved as I know it’s important part of this deal. And if they want to leave that’s ok also because rents should be 750-850/month. Which makes the deal even better for me. I should just buy it at the 165k he said he’d take and raise rents to 850/month but I’ll lose all tenants, need to get new tenants, and then I’m at the end of the spectrum. For me it’s better with less moves and already established good tenants. I’ll trade that over bout anything. Nothing makes a deal heavy like having to scramble to make it work... :/ but that’s just my approach

@Eben Rohling I forgot to mention he is not a “market” guy. He has never invested in any market and will never. To him the market doesn’t exist. You’re 100% correct though. Those of us that invest in index funds would shoot down a 3% offer every day of the week...

@Eben Rohling also if I just get a loan and buy it for $160k that’s it. That’s all he gets. Wouldn’t it be better to keep the financing so he continues to make the interest? Especially that he does not need the money. Also he said he’d hold the financing for less or more than ten years....

@Eben Rohling he wanted 50k dp at first. He has a realtor at 7% plus capital gains. He bought this property at the low in ‘08. I could do bank financing np. He wants 165k and based on the fair rent rates that is too much. He has both rented for $625/month currently and I think they would rent for $750/ month. I could do that except he has lifers in there now that I’ll lose if I raise the rents that much.... thanks for thinking out loud. It’s helpful

I am in negotiations on a 2/2 duplex that is owner occupied, with another tenant, on one side and long term tenants on the other. Owner is asking $175,000. I offered $150,000(based on running the numbers). After working on the terms he told his agent to tell me that he no longer wants to sell. After about 30 days I called his agent and asked to speak with the owner and went to work. I am offering $150,000 with a $45,000 down payment @ 3% on a 30 year term with a balloon in ten years. The seller wants more. The seller also wants to stay in the property. Seller also does not want to raise rents on anyone in the property because they are living on fixed incomes. Also seller has 16 other properties here in Florida and another state. The seller definitely does not "need" the money. He offered me another property here but same thing. He is asking, basically at best, break even prices. The good news is that I have him talking and he likes me. I just cant get him pinned down.

I have asked him over 30 questions on his motivations/desires/wants etc... I have structured the deal around his answers. I have put him in the driver seat and in control of this deal. I am pretty sure that he cant commit to the 3% and purchase price. Even though I have showed him, with owner financing, he ends up with well over his original asking price of $175,000....

Any help/tips/ideas/suggestions would be great! Thanks!!!!