All Forum Posts by: Don Gouge

If others are supplying all of the money what are you bringing to the deal?

Will this house be a total of 970sqft or will additions increase the total sq footage. A 3/2 in less than 1000 sqft would have tiny rooms.

I was friends with an old guy that bought his clothes at the flea market and drove an old truck that was rusted out and had the springs poking up thru the seat. He had 4 big farms and liked trading cattle. Most everyone thought he was broke. His farms were probably worth 3 million and when he died he had 10 million in the bank. I like the understated people.

Those houses are new and will bring a premium to a used home. It's also hard to tell what the builder threw into the deal to keep the selling price high. He might have given 50k in upgrades. You are also competing against the builder. Drop the price to $599,900.

Drop the rent and then they will start thinking about how much you have been ripping them off for the last year. Instead figure out a way to make them feel like your unit is worth more. Maybe it's in better condition or in a more desirable location in the complex. Maybe even establish that YOU are a better landlord because you are more attentive to their needs.

Tell them that wanting to discuss the rental price came just at the right time! Say that you were planning to increase the rent to 1500 but since they have been so easy to work with you can delay a price rent for at least another year.

A better method is to be added as an authorized user on a well aged credit card account that has low usage and perfect payment history.

Isn't you broker supposed to advise you?

I think you need to look at what comparable lots are selling for and subtract the demolition cost from this figure. Then add back the value of sewer and water taps. This should give you the rough retail value of the lot. 

A 1992 mobile home in pristine condition is only worth about 20k max.