All Forum Posts by: Alexander Price

Any relief or discounts on the entry price? Travel and parking to SF alone is going to be rough.

What a jerk. People have a hard enough time and don't need this looming over them. 

@Account Closed

Assuming he holds it for the 15 years after he lives in it, the best case I see, using ~3.5%/yr, he'd have appreciated 67%. My 3.5% is a rough estimate from the increase in median home prices for Memphis over the past 20 years or so. I am not a native, nor an expert, but Memphis lags behind the national average in appreciation. It is a cash flow market. 

That said, it is not an investment at all until he is no longer living in it. He should reevaluate then. 

That's awesome. I love how it puts in job creation details too. 

@William R. From the standpoint of having both parties interest at heart it seems difficult. As soon as there is a conflict between buyer and seller, how can the agent be objective in moving forward for both parties. Not impossible, but seems difficult and precarious. 

However, to answer your question, all things are negotiable in real estate. If the agent is representing both parties, a reduced commission should be negotiated. Seems fair, because it would also mean slightly less hassle since they would deal with themselves. 

@Ben Morgan

@Elizabeth Wilson hits it on the head with established companies having systems in place. If you really want to start a business, regardless of what type, start with the E-myth. There is a revised edition. It is available on audio and book. It talks about really simple, but overlooked concepts that help business avoid repeat mistakes and stay consistent for their clientele. If done right, you divorce yourself from it because the systems will manage the business for you.

Best wishes! 

Does their lease have anything in it about you being able to break the lease? I would assume, and I am not a lawyer, that you inherit the contract with the purchase. 

Welcome and happy investing!

@Dave Meyer Love your title!

@Bob Smith I think @Curt Davis is spot on. One of my rentals in Memphis went vacant and it took 3-4 weeks to get it ready and rented. @Alex Craig is honest and I would just call him and ask him what his vacancies are. As I would with other PMs. @Douglas Skipworth could probably help. The problem is, as was found out by another investor in Memphis that is on BP, a nice house with too high a rent cost will artificially drive up the vacancy rate. Lots of factors at play here.

I cannot speak for Indy, but I assume it is the same. The better question to ask might be how do I drive the vacancy rate down on in my market.