All Forum Posts by: Michael Campione

Hi Ryan!

Wish I had found this site before. Since this guy has been in the business awhile its doubtful he spends the day counting holes in the celetex. But then I never thought to ask for a CMA. Duh. Guess I have too much of a sence of loyalty. Until you drop the ball.
Anyway, never thought of beating up a new guy. Well at least she got a lot of practice writing offers. :wink:

LOL. I had a feeling that would cause a stir. I can appeciate that mach.
OK so I am looking for property in another state. TX
I'm happy with the realtor I am working with so I really don't want to chase him off but being this is the first rental property I'm looking for (as you may gather from other threads "rule of 100"), guess I may be trying a little too hard.
The point is, in a level market (generally speaking) how do you or how much can you justify shaving off an asking price from out of state without p--- off the realtor and having the seller laugh at you?
Or do you find a property, bite the bullet, jump in and offer the asking price on contigency of apprasal and inspection. I do trust the realtor's first look at the property. He has already steered me away from some potentialy bad deals. And given me some insight on the area.

You can tell me to shut up now.

OK I'm sure this has been asked and answered a billion times.

I'll get right to the point. Is it acceptable (in the investor world) to pick a % and thats what I'm dicounting every MLS asking price and see who bites?
Or dare I ask. At what point would your realtor fire you as a client if you continue.

Just had to ask.

Ryan, you have answered a great deal of my questions in your last response. Thank you.
It gives me a good direction to head and has confirmed a few other points.

Definatly will look into some clubs.

Thanks again

Thanks for your imput westly.
I don't expect anything to be like California. That was a weird ride.
All I want is some income property that is not going to bury me for the next two years and since my family lives in Plano, figure it would be a good start.
I was actually leaning towards multi-family anyway. They seem to be in that range.

Thanks Ryan
So would 1% be a good factor for the mid to high property?

So here is another one if it is not too off subject.
So I just get an email from my realtor saying this property we were looking at for the past week and has been on the market for a month all of a sudden has multiple offers after I questioned the price of the Duplex. And I have until end of day to submit mine. Gut feeling? Don't think there are any.

Hi All,

I'm very new at this so be kind. I have been doing as much homework as possable so sorry if the question is a little disjointed.

I'm looking in the Dallas/Plano area and it seems 1% is about where its at but the appreciation dosen't jive. What sold in 2001 for 175,000 is now selling for 230,000 to 250,000 for a duplex in a decent area. Above even 7%. Seems this should suck my equity for the next year if the index stays at 7%.
Am I missing something in my math?
No doubt these are retail prices. So at the risk of sounding dumb.
How do I go about finding the discounted property. Or do I just make an offer based on my projected first year cash flow?

thanks