All Forum Posts by: Darius Lipsey

I wanted to look at 1 property that has been listed twice in the last year and has dropped in asking price 15k in that time. It's 25k above what I originally wanted to offer but the numbers still make sense so I was willing to step above that because it's cash flowing currently.

I wanted to look at 1 property that has been on listed on the market

Russell Brazil so you wouldn't be willing to put in an offer for a client and negotiate with a seller because you value your time?

@Andrew Johnson in this instance the "ridiculous" offer is about 20% under listing price. The property had been listed at least two different times in the last year and the asking price has dropped 15k from the first time it was listed to my knowledge.  I am fairly new to investing but I'mnot just throwing mud and hoping it sticks. I've put a fair amount into deciding what I want to purchase over the last couple of years and have just recently gotten myself into a position to pull the trigger so by normal standards the offer would be insane, but feeling so aside the numbers have to make since. 

@Andrew Johnson i don't think the agent is lazy, in fact from the outside-looking-in really they are busy. Having said that, being that busy means higher commissioned sales are probably higher priority and submitting ridiculous low ball offers could be a negative on them considering experience. I understand protecting ones on interest, but where does the line get drawn? I've been trying to  go through the buyers agents first not wanting to see someone's work for free and honestly this is the first bit of resistance I've felt outside of having to wait several days for showings.

Michael Plante that does make sense. Follow up question: If you aren't using an agent, do you have access to mls for finding deals?

I'm purchasing my first home!!! I've taken the plunge and applied for financing and have been approved. I've been set up with an agent through my bank. I want to live in the property as my primary residence for a few years, but although it will be my primary residence it's also an investment so to me the numbers must make sense. I have a pre approval letter for a certain amount and I have enough cash for closing cost so all that it good. There are a couple of properties I'm interested in that are priced above my pre-approval amount and I'm not afraid to submit an offer based on what I can and am willing to spend, but the agent I'm working with feels it's a waste of her time to schedule a showing for a place outside my approval limit because "there's no way a seller would accept that offer." Yet most, not all of the places the agent is prepared to show me don't really fit my criteria outside of being in my price range. although I'd rather move faster, I don't mind a bit of patience for something I want to come up. I'm not sure how I should proceed because I want to press the issue feeling that I'd rather the seller disqualify me than be out of the game based on fear of rejection or an agent that may not understand what I'm trying to do. Does anyone, Agent or investor, have any advice or guidance on how I should treat this situation?

Sarah Williams because of the financing available to me I can't buy a run down property it needs to be relatively move in ready or it's not an option. That being said property doesn't have to be perfect nor do I expect it to be but I have to be able to live in. It has to be at least habitable from the get go and I have every intention of upgrading and adding value over time as I go. @aaron read my post. I didn't say anything about looking to buy a rehabbed property under market value. I said I'm looking to buy with financing that requires owner occupancy and most of what I'm looking at is occupied. I'd rather not buy a run down property because that would mean using more money that I do not have. If you have certain criteria that works for you that's great!!! For you, but our situations aren't the same. If you have guidance as to how I can work within the confines of my situation as I described I'd love to chat with you.

Hey, BP!

So ideally I'd like to buy some type of multi family property as my first investment most likely a duplex, but a triplex, or fourplex would be even better in my opinion for cash flow. Icurrently live in an apartment and rents are just too high to justify throwing away anymore money on living with nothing to show for it. I love the idea of house hacking  considering I could finally move to the investor side of the market while cutting my living expenses. I do have financing lined up which requires the property to be owner occupied which is the goal, but most of the properties that I'm seeing for sale are occupied by tenants. Or complete wrecks. I'd rather avoid buying a property that needs a full remodel because I don't have the cash around for that nor the means to do a ton of repairs myself. I'm not sure how to go about or even if i can use the bank financing I have to purchase a place that must be owner occupied within 60 days of purchase. I've read about owner move in evictions in California and other areas, anyone know if that is a thing in Indiana? Or if leases could be renegotiated with tenants after closing? I don't want to put people out on the street, but at the same time my apartment lease is nearing its end and I don't want to be on the street either. Nor do I want to re-lease and continue pay absorbinate rent for lack luster living. Any suggestions?

Hey, Sam Leon! I have a service dog, myself and as far I know the laws protect the rights of persons with disabilities as owners of an service animal, and does not protect the service animal specifically. So I would think the landlord doesn't have to allow.