All Forum Posts by: Arron Paulino

I do have an agent for both of these remaining properties who has sold the other properties I had in my portfolio. Ultimately, it has been up to me to see what I am able to tolerate in terms of the purchase price.

I was able to retrieve one potential buyer's EMD but the other seem to be tire kickers. Trying to have my agent word it better in that we expect EMD at agreement of contract rather than once their inspection period has ended as they have been able to run away.

The EMD deposits have been fluctuating with each buyer from $500 to $5k.

Makes sense. I may just have to take it as a loss and prepare funds to have it close at what the it is worth on the market.

I may just end up selling the free and clear property for what market says and get the most out of it right away.

This is correct. I was trying to think if it is worth it to rehab and then rent it out but without having much liquid funds available this play is difficult. I am trying to limit the funds owed at closing in order to sell this one off since it has a mortgage. Just trying to select the best option at the moment. I appreciate the feedback.

 It probably needs around $15-20k work. Current asking price is $65k

I am now down to my last two investment properties that I am looking to sell soon. One is free and clear and vacant with offers that have been coming and going. I have been on contract with some buyers who were interested and willing to buy it as is but either changed their mind at closing, which is inconvenient, or not willing to meet a price. I have already had it on the market for about two months now and taking lower offers than list price and what the appraisal value is just to sell it and move on. I've learned to not be emotional attached to the sale but am bringing a knowledge head to the table and not taking lowball offers. Any advice on dealing with lowball offers? I've had offers closer to list price but they end up taking too much time to close.

The other property has a mortgage around list price which is hard for me to take anything lower without bringing money to the table in order to close. It is a learning lesson and something I'll consider when doing my numbers in the future. It has been harder to get offers for this one as it might be higher than what the market is looking for, but just want to not lower too much due to the mortgage owed when closed. Any advice on this one? Not really sure if rehabbing it is even a consideration to raise its value due to me selling as is.

I am thinking the properties will cancel themselves at the end, which is fine so I can start anew with the knowledge I know now. Looking to sell these two, learn my lesson, and get into better investment opportunities going forward.

 That's what I figured, but just had to check!

I see these Redfin and Zillow estimates of what a property is to be worth. Are these accurate? Redfin shows a higher number than Zillow, but I am not sure. I understand comps, but just curious.

 I ended up moving on from this one as another backup offer was ready to go. I informed my agent to get ahead of this on the next one to avoid having this issue again. Just wish the other buyer stuck with the contract.

 Thanks for the heads up. The buyer literally came all the way to the closing date and decided to back out, which is an inconvenience for me since I could've just put it back on market asap. No earnest money was receive after the contract states that it should have been received after the 7 day inspection period was met. I think it was just bad etiquette on the buyer's part the whole way, which I don't really want to keep my head on it, so I've just decided to move on to the next one. Just wanted to see if it would even be worth the time.

 Thanks for the clarification. I'll be sure to state earnest money upfront in the next offer.

Makes sense. I'll be more direct about receiving it, in the beginning, to really lock in potential buyers and to know that they are serious rather than wasting anyone's time.