All Forum Posts by: Christopher Brown

So I've run the numbers on the airdna website for a property that caught my eye… What came back blew me away. It's a 16% cap rate, NOI of $50,000, gross income of 96k. 87 % occupancy rate, $154 a night. If this data is real, I've hit a gold mine, so I guess my question is, how has every ones actual numbers and experience compare to the data provided from airdna?

@Owen Dashner

Well said Owen! I broke down the benefits for him like the extra money he would make in the long run but he still wasn’t interested. He wants to do a 1031 exchange so I understand why seller financing wouldn’t fit here.

But then… I get a call today for another property around the same price range. Same circumstances so I figured I would make the same offer. This guy counter offers with f****** my wife. Wasn’t too happy to hear that. Lol…

@Anthony Caruso

Unfortunately he wants a lump sum payment. I even offered to take out half a conventional mortgage and seller finance the other half if that’s even a thing and he still declined. Grumpy old man, his price is a bit steep too, I think he’s looking to just steamroll some one who doesn’t know any better but who knows. I’ll keep in touch with him any way

Found a seller that owns a 4 unit free and clear. He responded to one of my direct mail letters. I’m already under contract for another house, but this seems like a great opportunity to get a house with seller financing.

What benefits could I explain to the seller if he were to owner finance the house with? I figure he’ll save a ton in realtor fees and capitol gains, but what else? I’ve run some numbers, and he seems to have a price in mind around 475k. I think that’s a bit much when I looked at sold houses in the area and figure I would offer 400k, but the owners interest is what I don’t know how to negotiate. Is there a set rate? 4% could work for me but if I go higher than that, I begin to loose cash flow in the property. Just trying to get creative with my financing options since my capitol is tied up in the house I have under contract and I feel like this could be a great cash flowing property.

@Zack Karp

Yeah I think you’re right about that. Might have to talk to some one else!

@Zack Karp

I was as transparent as can be I’ve owned my first home for 3 years now, this second home I’m looking at is a 30 minute drive away so I don’t understand why there would be an issue, especially since I want to sell my current home.

Hey again bigger pockets. So I've landed an off market deal. Great right except my mortgage guy doesn't sound too confident about me getting the house. I DO have a multi family already with a VA loan, but I currently have it listed to sell, and on top of that, all of my family is in the town I've found this building in, annnddd I'm making more money than ever. He claims there could be an occupancy issue. Is this true or is this guy making excuses?

@Marian Huish

Ok perfect I figured that should be my business model. Just wanted some unbiased opinions

@Toni Peay

I would be sharing my software accounts yes. As well as provide training, mentoring and advice but again with only 1 sale, I can’t say I’m an expert and never been much of a salesman, just a hustler and a hard worker. I’d rather leave the “selling” to the people on my team. I just don’t know if a team can be structured and work like this, but it’s been on my mind for a while now.

@Caleb Brown

Thanks for the fast response! What do you mean when you say “have more to offer”? I’m an investor as well and always trying to find deals, and have a network of contractors as well.