trying to buy my first duplex and need help with negotiations

[Robert Hidrogo]

Hello all, I tried working a deal with no money down and it didn't work but the owner does seem interested in partnering up with me... any suggestions on my next move? Emails start from the bottom, up. See my offers bolded below:

• Today at 12:58 PM

To

• Bobby

okay :-)

On Wed, Jan 6, 2016 at 1:01 PM, Bobby <> wrote:
Awesome! I will be awaiting your decision.

Bobby H.

From: Todd
To: Bobby <>
Sent: Wednesday, January 6, 2016 12:54 PM
Subject: Re: DUPLEX for SALE

Yes to the B unit increase as well. And I will certainly give this some serious thought...it's always better to work with other motivated individuals :-)Todd

On Wed, Jan 6, 2016 at 12:45 PM, Bobby <> wrote:

Unit A would be $725 so I assume you would raise unit B once their lease is up in 6 months which would be $1,450/month. I live a 20 minute drive from there and since you are not willing to do an owner-finance, I am wondering if you would be interested in partnering up to update the units and raising the monthly rent on each unit. Since I am 20 minutes away I can also manage the units and keep bringing income for both you and I.

Honestly, I want to have my own investment property and feel this will give me some experience. Let me know what you think. If not, I totally understand. Bobby H.
From: Todd
To: Bobby <>
Sent: Wednesday, January 6, 2016 12:13 PM
Subject: Re: DUPLEX for SALE

$125k

On Wed, Jan 6, 2016 at 11:32 AM, Bobby <> wrote:
I understand. Most people would want the full purchase upfront. How much are you asking?

Bobby H.

From: Todd
To: Bobby <>
Sent: Wednesday, January 6, 2016 11:19 AM
Subject: Re: DUPLEX for SALE

I'm not interested in selling the property this way, at this time. I will let you know if that changes. Thank you for your interest!Todd

On Wed, Jan 6, 2016 at 10:55 AM, Bobby <> wrote:

Hi Todd,

I would like to rent both units but am going to need to ask if you can do an owner finance at 0 down, or if not, if you can do a lease with an option to purchase within 2-3 years. My plan is to secure financing within 2 years and refinance to pay you off and move forward with my plans to improve and continue to rent out the units.

Bobby H.

From: Todd
To: Bobby <>
Sent: Wednesday, January 6, 2016 10:18 AM
Subject: Re: DUPLEX for SALE

Okay, will do. Just curious, are you looking to buy and live in one side, or looking to buy and rent both units?

I'm asking because I have multiple people interested in renting the unit. I would rent the #A unit for $725/mth and put someone in right away.

Just let me know, thank you!

Todd

On Wed, Jan 6, 2016 at 10:14 AM, Bobby <> wrote:
Todd,so far this weekend is looking good for me to go have a look. Let me know your availability.

Bobby H.

From: Todd
To: Bobby <>
Sent: Monday, January 4, 2016 2:26 PM
Subject: Re: DUPLEX for SALE

Will do.

On Mon, Jan 4, 2016 at 8:09 AM, Bobby <> wrote:

Hey Todd let's schedule a time to go look at the duplex. Please give me a call when you have some time 

Sent from my Sony Xperia® Z1ˢ on T-Mobile’s 4G LTE Network

---- Todd wrote ----

Yes..ill get them uploaded as soon as i can & then send.

On Jan 1, 2016 7:21 PM, "Bobby" <> wrote:

Sounds good. Can you send me pictures?

Sent from my Sony Xperia® Z1ˢ on T-Mobile’s 4G LTE Network

---- Todd wrote ----

Very sorry for the delayed response. I've been gone/busy all of Dec.

Here's some details:

Ea unit is appx 885 sqft...built in 1984 (need to verify). I have one unit left open for a buyer who would like to move in and rent the other side...never have a problem filling with good tenants. And the folks next door very nice people. Currently $625 w. appx 6 mths left on lease.

Some other owner appx 2 years ago just a few duplexes down-in the culde-sac was bragging about how they're getting $725/mth for their units...I've always focused on affordability for folks, and haven't changed the rent in years. I just helped a tenant move out of other unit to prep and make available for new buyer.

....

There's some interior work needed in the "B" unit, but nothing major. I just had both A-Coils for HVAC pulled out within the last 6 months..cleaned and recharged..no leaks were present per my HVAC guy and Condensers serviced. Furnaces and other components running well. New water heater installed in B unit as well, just a few months ago. Weather Patch just applied on roof around all fixtures, no other damage observed. There was a leak coming into bathroom above sink...no other leaks observed once this completed. The ceilings are the old popcorn..so I've tried to preserve what's there and get rid of the older stuff and blend in over time...would be ideal to take all down with no tenant. No tenant has ever been that concerned about, so I filled the units. All flooring is tile..couple tiles in one bedroom to replaced-cracked. Bathrooms and kitchens have never been updated...I attempted to price accordingly for some equity knowing some improvements will be desired, but not a necessity. All your major systems are in good working order. I'm just further away now, and have had some changes and looking to sell..not a desparate or distressed sale..so please no low-ball offers.
...
I will be available to show the property after the 11th of January, as I will be out of town....again....
Just let me know if still interested and let me know what days and times work best to meet you. Thank you very much for your time and interest!

Happy New Year!

Todd