All Forum Posts by: Richard Carpenter

Tom,

I can do as much of the property inspection as I am allowed by the owner. As I stated before, we aren't on speaking terms. Whatever questions you have about the property, I will find out. The tenants come to me before they go to the landlord because they know we have a history, and I care for the tenants.

Ask me whatever you need to know by gmail, PM, or my business email listed above, and I'll get to work. We'll discuss appreciation at a later date.

Tom,

Of course I have the MLS link! Deals have been taken before. The MLS post is not even 3days old yet. This deal is posted by a broker, and it's brand new. Someone in Chicago knows how to do this.

OK BP, Let's get to work.

Property owner, Landlord, is selling his property which is a Garden Apt Court, with 8 units. 4 of the units are occupied, 2 of the units are lived in by owner, 2 vacant. I have tried in the past to convert him into an Investor, but to no avail. Recently, he and I had a bad arguement, so we don't talk now, at all! I recently found out (on my daily MLS research) that he posted the property on the MLS for 265K.

He says to other tenants that he is retireing, and moving to Florida. I believe he's just sick and tired of tenants, and toilets. Whatever the problem, I don't care. I would rather have someone in my BP family to have access to the property, instead of the MLS, and maybe I could get a couple of bucks out of the deal.

I tried to do a Property Analysis, but without being able to have a conversation with him, it's too much guess work to be efficient. I totally believe that this property will go for at least 300 to 325K with a few minor exterior upgrades i.e. paint, balcony railings, lower exterior balcony ceilings etc., who knows. 

I have been here for 7 years because of how well we used to get along. I don't call this my crib, it's my office! I wouldn't have stayed this long if he was a slumlord, so you can imagine how well the property is kept.

I'm quite sure someone in the family can check this out. Even though I can't call this a JV, I will work with you, just work with me!

Richard Carpenter

[email protected]

BP,

Because of your comments, and my common sense, I sent an email to the 'so-called seller and I just wanted to share this with you guys;

Dear Devoted Christian,

Thank you for the teaching tool you've given to me and my students.

Through your email, I've taught my people how to know a scam, and how to avoid scammers who use religion, and compassion to scam money from investors.

1. You didn't ever give your true name.

2. You didn't call when the number was provided.

3. You said nothing about the property, or a deal that you would consider.

4. You asked for 'Up Front' money before you considered a deal.

5. You showed no professionalism at all.

Again, thank you for a very beneficial teaching about scammers.

Richard C.

I just want to thank you all for your wise comments. My first mind is always sceptical about anyone who tries to use Religion, instead of business. I'm sure that if she has talked to other investors before talking to me, she would have gotten a deal. The property looks good for a Rehabber, but not for me as a must purchase. I was never going to put money in her hands. My antenna went up immediately when she wanted 'Up Front' money, and tried to use the religious, compassion card! The property is not far from me, so I'll just set up a walk through.

Thanks BP Family

Found this seller;

"My son has been so sick .. he has a kidney problem and i need help financially ... i am thinking of selling the property out asap on a cheaper price and i have been in contact with few investor.. But i want a deposit upfront to be able to cover my expenses here and when we close the deal the money can be deducted ."

This property is a 2 flat, 5bd, 2ba for 29,500;

Needs a lot of work to bring back it's glory. But it's stood for over 100 yrs, & with work will be ready for another 100. 1 3BR and 1 2BR unit both w/1 bath. Alum siding 10-15 yrs, roof 10 yrs, but the units, heat, elec and plum need rehab. As-Is. Could be a great money maker. 1 block from City College, close to stores, transportation & expressway.

This is a Chicago property that I have yet to get under contract, but the seller and I have something in common...Jesus! Even though we've only talket through email, and she's been talking to other investor's, she is still waiting for my decision. What do you guys think? Help me out here.

Thank's in advance.

Got it Wayne. What can I offer. I believe that I will just humble myself, and ask what can I offer  you! That will get the conversation started. You only get one chance to make a first impression, and I feel that this strategy is an extremely good start.

Thanks BP

Jeff,

I totally agree! He also owns the property next door. I went to the County Assessors site and found that he purchased the property for $2000! My gut says that something is fishy, but I still want to know what's going on. I want to know, and I want to warn other investors so he will never sell anything in my jurisdiction! 

BP,

I imagine this guy is an Investor, but he's weird! Look at this information===>

Single Family Residential

• • 814 sqft
  • Stories: 2 story with attic and basement
  • Roof: Shingle (Not Wood)
  • Basement: Unfinished Basement
• • 2 Bedrooms
  • Lot Size: 2,975 sqft
  • Parking: Detached Garage
  • 2 Units
  • County: Cook
• • 1 Bathroom
  • Built In 1904
  • Parking Spaces: 1
  • Construction: Masonry

  Tax Rate Code Area: 72167

• The Seller is asking 5k down, and selling the property for 25K. Haven't looked inside the house, but for 25k, do you think I should go forward? 

BP,

I am always building my team, and finally realized that the first thing I should have done is acquire a Real Estate Agent as a team member. My only problem is what do I say to make my business attractive to him/her.

I've had RE Agents emailing properties to me for a while, and even one who asked "What can I really do for you?" What do I say to make them want to do business with me?