All Forum Posts by: Greg Downey

I want to consider proposing this deal to our realtor. (short back story to follow):

We are selling our townhome that we bought with a 0% down VA loan in January of 2014.

We used our realestate agent to buy and want to use again her to sell.

Since she made a little over $10k on the purchase and are selling so soon, would it be inapropriate/jerkish to ask for her cut to be a little smaller on this sale?

What I was thinking is that if we sell the house for $330K, minus $6K for renovations to the home, $5K for closing costs, and $23,100, I can break even.

The largest cost there is the realtor fee. Would it be jerkish to ask for a flat 2% which would bring realtor fees to 17K? Or could I structure a deal where she gets a garunteed 2% and 3.5% if she can get $330k or higher?

Any other ideas?

Back story: we were planning on holding the property for 2 more years, but I have a miltary deployement this summer, and want to sell. We used the same real estate agent and she was really great and is kind of a friend. So, can I ask for a lower rate since we have brought her so much business?

Thanks guys,

Greg

sorry for reviving a probably dead thread, but this post had a lot of potential content that nearly exactly pertains to my goals.

I am military living out of state, but lived in SPFD and have family in town. I am deploying this summer, and want to take the plunge and send the wife back home to buy and live in a multi-family while i am deployed (she would only be living in it for about 8 months).

I would love to go the meet up on the thurd tuesdays, or meet up with one of yall, but alas, I can not.

I have seen some duplexes asking for 80-100k and could probably rent both for 1.2k. seems to be quite a few of those out there. Am I missing some sort of major piece of the puzzle or something? How is the buy and hold rental market in springfield?

I would love any of yall's feedback.

Greg

sorry for reviving a probably dead thread, but this post had a lot of potential content that nearly exactly pertains to my goals.

I am military living out of state, but lived in SPFD and have family in town. I am deploying this summer, and want to take the plunge and send the wife back home to buy and live in a multi-family while i am deployed (she would only be living in it for about 8 months).

I would love to go the meet up on the thurd tuesdays, or meet up with one of yall, but alas, I can not.

I have seen some duplexes asking for 80-100k and could probably rent both for 1.2k. seems to be quite a few of those out there. Am I missing some sort of major piece of the puzzle or something? How is the buy and hold rental market in springfield?

I would love any of yall's feedback.

FIRST POST!!!!!

I am active duty Navy living in San Diego and am wanting to get into the real estate game in Missouri by the end of 2015. I grew up in St. Louis, and spent my College years in Springfield and have family in both.

My goal would be to invest in low-middle income multi-family homes in either St. Louis or Springfield. I am more inclined towards Springfield as I feel it may be more affordable and more rentable as there are a boat load of colleges in town.

Are there any seasoned vets out there that have a pulse on the St. Louis and/or Springfield buy and hold multi-family markets? Springfield seems to have some very cheap MFH's, but are rents too low or are they even rentable?

I will have about a $1000/month risk tolerance for leveraging to get in the game as this is our first REI.

Thanks in advance for the input guys!