All Forum Posts by: David Jackson

@Aaron Hunt I feel this is very much the problem in my situation. So a fewmore details... I actually did use a younger, newer agent at her office. He had helped me find my primary residence a few years ago. I knew it was a small deal so I brought it to him and didn’t ask for a ton of work from him.  Just send the seller disclosure, unlock the property and submit an offer. For some reason he said that the broker would be doing all the paperwork. I was really confused by it but I knew she had a ton of experience. She absolutely treated me like a bother. I get it, she stood to my 3k on the deal. I just thought she’d still rather have it than not have it. It’s the Pocono mountains. There aren’t a ton of 7figure transactions up there.

@Jason D. she texted me what their counter offer was. I told her I accepted. She said she would get the  contract together in the morning. I thought this was odd but I trusted her. She’s a big player in the local RE community. 25+ years experience. The big lesson is to be more assertive on things like this. And if something feels off—like waiting 17 hrs to put an agreement in writing—I need to speak up.

@Jay Hinrichs she does use docusign. The initial offer was so easy. Not sure why she didn’t want to put the contract together real quick to avoid this. 

This is only my second deal. I’m happy to learn from a gut punch like this. Just hurts today.

Thanks to everyone for the thoughtful responses. I’ll be much more assertive with my realtor next time. I’m not sure why she was so comfortable waiting a day to draw up the new contract. In five hours, the deal was gone. Not blaming her—this was my deal.

@Kevin S. @Patricia Steiner thanks for the advice. This is helpful.

@Brie Schmidt I’m ok with being outbid. I stuck to my numbers. Just didn’t realize realtors still take offers after one has been accepted. Lesson learned.

I made an offer on a house on the MLS. Through our realtors, the seller countered. I accepted the counter offer. My realtor let the seller's realtor know I accepted. My realtor began working on the contract. Late in the evening (8pm) I get a text from my realtor saying that two more offers just came in and they want my highest and best by the next day. I stayed put on my offer. They went with a different offer. Is this common? Do I have any recourse or did I just learn a lesson about nothing being official until it's in ink? Thanks in advance for any input

@Edwin De leon hey, private message me more details. I invest in that area.

Dave

Hey David,

Tell us about the deal. This is a diverse market. Main considerations are peoperty taxes and crime rates. Not all townships are equal down here.

It really is an awesome town.  After analyzing numerous pitman properties, I'm finding that the high taxes really eat up cash flow.  This is true about most of south jersey.  If you're a speculative investor, I do believe Pitman has large potential for appreciation due to a number of growth factors in the neighboring town of Glassboro.  Speculation, of course. 

@Account Closed   I'm interested in buy-and-hold rental properties.  I am actively looking for anything in the 2-4 unit range.  The next purchase will likely be another house hack so that I can permanently be out of the Pocono cabin. It cashflows well as a seasonal and short term rental.

Thanks for asking!

Also, I think we met briefly at the south Austin meetup? Great to hear from you.