All Forum Posts by: Aran Williams

I was talking to my wife (my RE agent) about the one persons offer that he sends us every time we list something. We don't think he leaves himself any outs if the property passes all the inspections. I will forward one of his bids to a RE attorney this week.

Thank you.

I have looked at a few websites and read a few peoples blogs so far.

I pulled out a couple of the offers from a 75% person. His inspections list, structural, foundation, bug, radon, plumbing, electrical, lead, mold, HVAC, and asbestos. His offers are all cash 30 day close. I don't see where this person would have any other outs as long as the duplex passed all his inspections.

I'll talk t my wife more about this tonight as she holds a RE license and I do not.

So there blind offer with out doing there due diligence to at least walk thorough the property. If we accept the offer and the listing description matches the property how would they back out of it when it goes to court.

Should I say that I have a nice duplex that had a good size fire and this would be a great way to unload it at full price without finishing the remodel?

I have a decent amount of duplexes that I’m selling so I can put the money into a different RE venture. Before I put them on the market I let both the leases end, update, and make them move in ready. I have only had one duplex that was on the market for more than 14 days and everything has sold within $5,000 of asking price. All of the list say “30 day close / owner agent”.

Every property we have listed the same group of 14 people submit offers for owner finance, 75% offers, or some other crazy trash.

Is there a nice way to let these people know that we have no interest in any offer unless it is all cash and close to asking price?

My 50 unit complexes have a few 1/1 units in them. We were planning on a lot of turn over with the collages where were close to. They are full of production workers. They stay 2+ years and very few issues with them. The 2 50 unit apartments had the plans changed to make more 1/1 units with a larger sq' to increase the rent and that's the main issue they have. IMO a 1/1 should never have to walk through a bedroom to use the bathroom and we get told how nice is it all the time when showing apartments.

We found collage kids are going for 3 bedroom apartments. A lot of them try for 6 people in a 3 bedroom, it kills our parking lots, lots of maintenance requests, and a lot of times they try to get us involved with them nitpicking each other.

I started off buying a duplex and living in one side and grew it to where I owned 381 duplexes and a couple of commercial properties.

A few years ago I bought a large property and built 2 50 unit apartment complexes using 2 silent investors. Last year I tried to buy out both investors and was turned down so I built a 50 unit complex. This year we started construction on 2 new 50 unit complexes that will be finished in the next couple of months.

Both of my silent investors decided to sell out after I started construction on the last 2 complexes. I working on selling around 120 duplexes to get out of dept from buying out my investors.

I do feel that time and money wise I would rather manage large complexes than duplexes spread out all over the place.