All Forum Posts by: Dustin Allen

@Andy Ramdeen

You should have disclosed this immediately when it happened. That’s a material fact that you withheld. I’d get ready for lawyers.

If that buyer had plans to finish the basement and turn it into living space, this would ruin their entire plan for the property. 

@KiKi Wood

Show them the total they can earn over taking the cash offer. Whenever you use a mortgage calculator, they tell you the total you’ll pay. The pic is of a 30 year loan but you can make something similar to fit your buyers SF offer and show them the extra money they would make if they did SF. The other bonus is they can repossess the house and sell it again if the buyer defaults. I know investors who have had to sell a property a couple times. It’s not the plan but ended up netting a lot more money over the life of the property.

@Paolo Patacsil

What state is your purchase in? What does your contract say? Do you have an appraisal contingency in your contract?

If you have an appraisal contingency, you should be able to negotiate with the seller to lower the price or cancel the contract based on the low appraisal. Read your contract and go from there.

@Katherine Roberts

What they bought it at is irrelevant to your thought process.  You need to evaluate the property on its merits and figure out what makes sense from your purchase perspective.  Not everything will make sense if you are coming from a purely investment perspective.  That doesn't mean that the home won't sell for their asking price or more.  There may be someone else that has different goals and objectives who will be happy to pay their price.  That's ok, make the offer that makes sense for your strategy.  If there is no way to bridge the gap, then you move on and find other properties to offer on.

@Jessica Villasenor

There are still some good opportunities for short term rentals in North Lake Tahoe.

@Kara Markowski

All commissions are negotiable.  If that seems high to you, negotiate for a lower fee.  Make sure you are clear on what an agent is offering in exchange for the fee.  Some might pass through expenses for marketing, photos and other things.  Others might include a lot of this in their fee.

Get the info and start negotiating.

@Joshua Weimer

@Eduardo Arteaga

We are meeting again tomorrow evening Tuesday May 16th, 2023 at The Hangar in South Lake Tahoe at 6pm. Would love to see you both there if you can make it!

@Adam Varone

If you think they’re lying, get your own agent and write the offer that makes sense to you. Best case using the listing agent is that they make more money. You don’t usually get some special deal for using them.

@Gary Love

Look at everything!

I don’t have any fancy pdf for you but here’s a short list:

- Look under all sinks for leaks

- Look in every corner (ceilings and floors) for any sign of water damage or cracking

- Look at the water heater, HVAC, AC, etc…

- Pull out floor vents if you want to see what kind of floors are under the carpets.

- Look in the crawl space and attic if you can (always have a pocket flashlight on you)

The more you can find out on the first visit, the better off you’ll be. I’m always looking for reasons my clients shouldn’t buy the home. If nothin huge stands out, we write the contract and get the inspections done by professionals.

@Anup Dhakal

That is mortgage fraud. Besides the actual direct penalties if convicted, there are a number of professional licenses that you won’t be able to hold with a fraud conviction on your record. A real estate license is just one of them.

A great rule for life is to just do what you said you were going to do. If you can’t, be honest about it.