All Forum Posts by: Dan Healey

@Kristy Ruff, @Mike Dymski 

I know this is an older thread, but I'm in need of CPA in the Update and figured I'd check back to see who you guys ended up going with and any recommendations you might share.   Thanks!

Be grateful for thoughts on my current situation....I'm selling a property FSBO and got a strong offer from potential buyer. But his offer comes with a contingency that he has to first sell his home, which is currently still active after 60 DOM. IMO, he's asking about 20% more than market value for his home. So I worry that if I accept offer, it would tie up my property for over a month and if his home doesn't sell, he's off scott free, I lose a month of marketing my property.

If I accept his offer as is, there's one "out" on my end, which would be to accept another offer that does not have such a contingency. In that scenario, I would notify buyer and if his property is still not under contract, he can either remove his own contingency, otherwise I have option to terminate contract. Problem is, I believe per MLS rules (I went with one of those lost cost, flat rate deals), I have to change listing status from "active" to "contingent" / "pending." I feel like that limits the marketability of the property.

Thoughts??  Other options?  

Thanks!!

Hello BP!

I currently own a rental in downtown Greenville, SC. I'm considering selling in favor of rolling proceeds into a new unit(s). I live out of state and trying to get a feel for what I can expect in terms of new deals in that area. I wanted to see if anyone can recommend an agent that I might contact while in town later this week? Looking for someone who focused on REI. Or if there are any seasoned investors willing to offer some input, I'd be most grateful to meet over coffee. Love to hear what's happening in REI in Greenville! Thanks!!

Dan

Hey @Brian Gossett, welcome.  I just joined BP myself and currently own a rental property in Greenville.  Looking to grow into more properties myself.  Be great to connect and share ideas!

Dan

Welcome @Jeremy Pavlik, I too just joined BP myself and also live in CT.  Hope we can help each other.

Dan

Thanks Melissa, good idea to use Craigslist to post what I'm looking for.  Have you had success with buy and hold rental investments in CT?  Love to hear more. 

Thanks Dave, thanks for the note.  I'll connect and keep you posted of my progress.  Be great to hear what you're working on as well.  My challenge now is finding new opportunities to include in a potential 1031 exchange.   Working some local agent contacts currently, but nothing has jumped out so far.  I may just get down there and try see what I can find in person.  Let's stay in touch.  

Hey Drew, thanks for the note. Any suggestions for finding potential deals outside of the typical MLS listings (realtor.com, etc)? Not seeing much in the way of mutli's. Thanks.

- Dan

Hello BP!  Just joined and loving the site.  Great content and tools and everyone seems very willing to help and share, which is great.  Looking forward to getting more engaged.  

I do own a rental property but I had never really planned to be a RE investor.  I call myself an "accidental landlord" because the property I own used to be my primary residence which I ended up renting out of necessity.  I relocated for a job in 2012 and was underwater on the house, so I decided to try my luck at renting it out.  4 years later, the market in Greenville, SC has come back strong and I now have a healthy amount of equity.  

The unit I own is a townhouse and while I do like that the HOA covers many items that I'd otherwise have to pay a property manager for, recent HOA fee hikes have me a bit worried. So I've started to investigate selling and investing in either a SFH or duplex.

Funny, 4 years ago I would have had to bring a check to closing, now I have to worry about capital gains taxes!  I've started to look into doing a 1031 exchange, which is how I stumbled upon BP.   

I currently live in Connecticut, which presents a little challenge I think in finding new properties in South Carolina.  But I'm down that way a few times a year for work and I really like the growth that's going on there. 

Outside of this rental property, I've bought and sold 2 primary residencies and each of those I did without an agent.  I learned a lot by going through the process myself and not using an agent (and saved lots of $) which is probably why I feel more confident now in stepping up my REI game.    

Looking forward to soaking up the great content on the BP site and contributing to discussions wherever I can add value.  See you around the site!   

Dan