All Forum Posts by: Eric Dymesich

The closing was today at 11:00. I went to the house at 10:00 and it was still full of the tenant's stuff. People were there hauling out junk but couldn't fit it all in one dump trailer. They were out of room and the garage was still full of stuff. My realtor and I were both frustrated with it. I offered to push the closing out 2 days but I asked for $300 off the sale price because the seller is wasting everyone's time and I felt like he should have to give up something for doing that. The selling realtor said that is fine and then called back and said the owner will not budge. He sounds like a real jerk and people I talked to that know him to say the same. (Small town 9,000 people) Anyway, the selling realtor said he will put in the $300 just to keep the sale. So Wednesday is take 2. It doesn't look like there is anything standing in the way this time. I was frustrated with the deal but I just go back to the numbers and according to the numbers this is a good property and it will end up being a good rental for me and my wife. 

Thanks, everyone for the great input! 

@Eric Dymesich Thanks for all the great advice. We decided to push the closing out 30 days and ask the seller to reduce the price to compensate. I called the city, power, gas and bank to tell them the closing was pushed back and we don't have a sure date. 6pm my realator called and said the seller is moving the guy into another house he has so we can close so its back on. So Monday moring I do final walk through and close at 11. Thanks so much everyone for your time and advice!

I'm in contract on a Duplex and the closing is Monday. Its friday and me realtor just called and said the seller can't close because there is a tenant in one unit that won't leave. (The tenant is also behind on rent.) I required that the unit be empty before closing because it needs work and the renters were behing on rent. So I have a few options. 1-Back out of the deal and start looking for a new deal. 2- Change the closing date. 3- Or make a creative counter offer. Maybe like $ off the price for every 30days the closing is delayed or some other creative idea. Let me know because this is my first purchase so I dont have experience to fall back on. Thanks!

@Kelly I. That might be a good compromise to achieve my goal. I will look at the room and see if i can do a 2 door bathroom. Thank you!

@Patti Robertson I'm not experienced. This will be my first rental. I am a builder by trade though and it seems like small repairs or upgrades for me. I will do some more research. Another builder just built a apartment complex about 1 mile from me and has 1-2 bedroom only. He has a waiting list at $1250 per month everthing include. He is planning to start a 3 bedroom apartment complex next year that will take about 1 year to build. There are a lot of junkey rentals in the town so my goal was to have nice units and try to price above the riff-raff. I will definitely look at this because you have great points. Thank you!

I'm in the process of buying a side by side duplex. It has 2 nice bedrooms on the second floor with closets and a third small room for an office or a baby's room. It has a full bath on the second floor but no bathroom on the main floor. It is an old house with a big dining room and living room. Off the kitchen, there is a 15x14' room that is not conditioned. I'm going to finish that and open it to the kitchen it as the dining room/kitchen open concept. Then turn the current living room into a master bedroom. Also, I'm going to add a bathroom on the main floor. The question is: should I make it a master bedroom/bath or should I keep the bathroom separate? 

Thanks!

@Clint Morris I just ran into the same issue. I've had commercial loans in the past so I knew i didnt want to start out with that. Turns out because i sent the email from my company email they assumed it was a commercial undertaking. Then i told them i was investing my personal money to buy a second home as a rental they were like oh yes...best news. Fanny Mae only requires 15% down on rental property. I'm leaving right now to go look at some homes with the family. Hope to put in my first offer on my first rental this week!

@Mark Trebor What do you do about snow removal. I'm in northern Wisconsin and I'm looking to put in an offer on a Duplex but trying to figure out the best way to do the lawn and snow. The lawn seems easy because it can be regularly cut but what methods have you used for snow removal?