Houston 77099 zip code

[John Ho]

So I have a deal that starting to fall apart.. probably not going to pull the trigger on this one but can some of you guys run the number to see if it would make sense..

Asking 153,000

Got him down to 148,500

Now he wants 151,000 because he said he has to pay to pay the lender to hold the loan at 8 percent for 4 years.

And I have to pay 2 points on the loan which was never mentioned in negotiations. I was going to put 25k down and pay all closing.

The house is right at market price so I’ll have no equity in the deal.
I told him I can do the deal at 151,000 and no points on the loan.. too me he’s seems like he’s trying to milk the deal for all he can.. I don’t see a investor paying market price for a rental with the barely minimum updates done.. I’m only was interested because he agree to carry the loan at 8 percent now he wants to charge 2 percent on the loan and he wants 2500 more.. what you’ll think better to wait for another deal? Or should I do the deal at market price and pay him his asking?