All Forum Posts by: Robert Steele

No transfer tax.

Well I got it under contract without even putting it on the market. The buyer gave me an offer that was too good to refuse.

I have only a vague idea of what the property would sell for in this market but given I was able to stop my rehab and not spend any more out of pocket and not have to deal with any future unknowns it seemed like a good deal.

I countered back with a small price increase and better terms. If the buyer got the better deal so be it. I am happy with what I am walking away with even if I did leave money on the table.

The buyers agent has been working these private sales so knows what they go for. I only hope that they made the offer competative enough not to lose it. The buyer was very keen.

This was all a very weird situation for me. I've never had a buyer make a cash offer while I'm in the middle of a rehab for house in neighborhood I can't effectively comp.

Our county records don't list sales prices. They say something like sell/transfer for $10 and other valuable consideration. If they bought with financing that will show up but you still don't know how much they put down.

Yes please beat that dead horse. It's my favorite topic of dinner conversation at the moment. The Dallas housing market is hotter than I have ever seen it in the last 13 years I have been investing. Apparently the home builders need to play catchup after their long snooze.

Put the "coming soon" sign in the yard today and already have two interested parties.

I have almost finished with my mini-rehab and I already have someone submitting a cash offer. I haven't even set an asking price yet!

We've always had nice slow and steady residential market here but this year it has gotten quite quite batty.

I am selling a house in a hot neighborhood and am puzzled about what price to ask as I don't have any MLS comps. This is because all the sales this year in this neighborhood are being done privately before the houses even hit the market.

How should I price this thing? Just start very high and come down incrementally until someone bites or start low and pick the highest multiple offer, or do a professional onsite auction?

Kelvin K.

Just me baby ... just me.

WORD!

Number one is plumbing. It doesn't snow here but if the AC dies in the middle of our 100+ degree summers it is an emergency. When that happens it is usually 9pm on a Sunday night.

Had a lawyer tenant once who told me the phone lines in the house didn't work. That's strange, they worked for the last tenant. Nope - they're broke. Turns out there were two phone lines going into the home and they had only connected one.

Had another tenant tell me after moving in they had no hot water. Umm, that is a gas hot water heater you know. Have you got the gas on? Nope.

Hah! Just went back and read your post. It seems like I repeated everything you said pretty much.

Ugh. I hate to say this but sometimes I will let the late fee slide if its only a day or two. But with the caveat of "first and final warning" and only once a year. It's not a good practice because it trains the tenants the wrong way.

I know some landlords charge very high late fees. I don't do this. I want them to pay the rent - not bury them in late fees. It should just be enough to motivate them to pay on time.