All Forum Posts by: Ilan M Aliphas

 This has been already delayed twice at the buyers request. We were supposed to close originally on 3/29. Part of why I feel the unfortunate timing of this incident, which is neither the fault of the parties involved in the transaction, should have happened once the transaction was completed.

I'm selling a townhome in Houston, TX and we are 2 days away from closing.  The house went through inspections and everything passed with flying colors. Sometime after the inspection a water leak coming from the neighbors home caused damages to the property. The neighbor's insurance will cover the cost to fix the damage. However, due to the timing the Buyer is asking for $20k price reduction due to the water leak damage.  My profit on this sale is slightly less than the requested discount so I am not willing to accept it. I rather fix the damage, have the neighbors insurance pay for it, and find a new Buyer once the issue is resolved.

The important question is: After I say NO to the requested discount, if the Buyer decides not to proceed with the purchase, would the Buyer be entitled to receive their earnest money back or should I?

Thanks for the advice BP!!!

I manage my 3 properties and it's a breeze... you should manage yourself and if you really don't want to, get in touch with me.  I'll manage it for you or maybe even buy ti from you :) 

First thing you should do is fire the rental company... it is costing you way more than you think.  Own your listing! that is non-negotiable

@Kurt Pourbaix

Schlage Encode WIFI. Just don’t get the z-wave one. Get the wifi. Main benefit of z-wave is better battery life which sounds amazing for remote managing a property but you’ll end up having to do extra work to load guest codes and have limited functionality depending on the z-hub you choose. I made that mistake one… save yourself the headache

https://movement.com/lo/parker-borofsky/   <-- savviest lender and an investor herself.  I'd schedule time on her calendar

Hey @Marty Neville.  Would you mind sharing who did you use for the cash out refinance?

Congrats BTW!  amazing story of persistence.  Well done

I listened to Avery and Luke Carl and bough my second cabin thru the short term shop 4 months ago. #notasponsor

Could not be happier!  It's performing at 2x my best projections

After my last property, I now look for properties less than 30 minute drive from HomeDepot and Lowe's or any other good hardware store.  Makes that initial setup trip much much easier.

I say it kinda jokingly but not really... I really do take it into account now that I'm looking for my next one

@Nathan Leger

To me it was all about visualizing myself at age 65… try doing that, if you think you’ll be content sticking with the rat race and being comfortable then just do that. To me, an ordinary life seemed like it was going to be even more disappointing to myself than a horrible crash and burn as an investor… with that thought, I invested in my first property 18 months ago. Best decision of my life!

Good luck 👍