All Forum Posts by: David Marks

Hi All,

In the podcast, David and Rob have been talking quite a bit about writing "offensively" low offers, with the goal of getting a counter offer in return. Has anyone had any success stories with this recently? What percent below asking price was the offer, what contingencies did you write, and what was the outcome?

Im hoping to ask ~20% below asking, but I don't think I am comfortable forgoing an inspection. Am I shooting myself in the foot by asking for inspection? I would also need FHA financing.

Thanks!

David

Hi All,

I am in the process of purchasing a home in East Boston for a BRRRR. In our due diligence phase, our electrician found romex wiring leaving the circuit breaker, that quickly goes to junction boxes, which switches to old BX wiring leading to the walls. He recommended a full rewire, even though homes all over the area have similar configurations.

The alternative would be to install GFIs in all the bedrooms so that we can use devices with a grounded plug. All in all hes quoting 26K for a full rewire, which would otherwise go a long way in remodeling our kitchen.

Does anyone currently have BX wiring in their house? What kind of problems have come up from the old wiring/ would you recommend upgrading? Also is it likely that we see a higher appraised value if we rewire, or would that be more of a sunk cost? If we were to rewire completely, we would opt to add in recessed lighting everywhere as well. 

Thank you!

Dave