All Forum Posts by: Hayden Haddad

@Jonathan Paul Shortt I’ve been also looking to build a cabin in this area. I’m still researching so I’m happy to connect with you to share our thoughts.

@Charlie MacPhersonI will definitely follow your advice for future deals like this one.  @Thomas Hayworth Someone else got the deal. My offer was on the top 3 though. 

@Lance Alotti it simple. CMA shows two bd condos in this neighborhood is being sold 30% more than the one bd. The listing price for this 2bd condo is the same as one bd prices. It's crazy I know. Both my agent and I were like is there something wrong!?

@Joe Splitrock True, i shouldn’t be thinking about the listed price. I’ve been reading @David Greene book and the thing I learned is to look for both cash flow and equity. This deal has passed the 1% rent to value ratio test with my offer. I’m still waiting for seller response regarding my offer. If they agreed on my offer and the inception looks good I think I can get some equity out of it.

@Thomas Hayworth thanks a lot. I could always back out of the deal if the inspection comes bad. There are no emotions involved. My agent thinks someone will outbid me on this deal if I stick with my full price offer. You may say “of course, your agent just want to make the deal work” I understand but this agent is one of the good ones who usually keep me away of the bad deals.

@Alexander Felice I 100% agree with you. I don’t usually offer more than the listed price.

In the past couple of months I made 4 offers with no luck. This one is my fifth. This property (condo)is not foreclosure. My agent sent me CMAs and they are getting sold for %30 more than the listed price. There are no emotions involved with this deal. After talking with my agent, checking all the numbers and websites, i think this deal just makes sense. I offered a full price for a similar property before. It was listed with higher price (%25 more) than this one, and someone paid cash and bought it. I understand offering more than the listed price goes against all what I read about Realestate investments but I think even offering a little bit more will put me in a good position.

While continue hunting for my first rental property deal, my agent showed me an Apt yesterday and the price seems to be less than usual. It's a two bd apartment that usually sold around 30% more than what the seller is asking for. I offered full price as I know the properties in this area get sold out quickly. My agent reached out to the seller with my offer but the seller told my agent they are accepting multiple offers and they will let us know tomorrow. The cash flow will be good. I thought of increasing my offer as I feel someone else will pay extra to take it.  Tonight is my last chance to change my offer. Is this a wise decision?  knowing the apartment needs some work ( walls paint, new carpet, counters paint, and extra) but nothing major.

@Arel Avellino I 100% agree with you. In my case, I’m trying to add to my assets column. I work full time 8:00 AM - 5:00 PM M- F, and have couple of kids they need my time and attention after work and weekends. I cannot spend too much time hunting or driving for deals. I’m currently investing in stocks and Fundrise but I don’t feel I’m in control. So I thought buying some properties that pay themselves and hope to appreciate down the road. I’ve been looking for couple of months and made 4 offers with no luck. I will keep looking and hoping for a decent deal.

@Brendan M thank you so much. I like the way you explained it. I’m still learning. I guess I will keep trying and hope I get a deal with both good cash flow and appreciation

@Joe Villeneuve I might be wrong and that’s why I’m here for. To ask an experts like yourself. I was thinking about getting a property with a conventional loan that will appreciate for the next 5 years. I live in Dallas and it’s very competitive Realestate market for investors. I have have a job that I like and instead of keeping my saving in the bank or investing on stocks why I don’t buy some rental properties and have them leased for the next 5-10 years?