All Forum Posts by: Jason Nordwall

Thanks @Jacob Sampson, but my question was more about how advice on working with the seller to secure the deal. I have not decided on whether I'll do it or not, but if I decide to, I want to have the best shot possible. Surely someone has some input / ideas?

Thanks,

Jason

Hello everyone!

We are friends with a lady in our neighborhood. Her mom moved to assisted living last year and has left her house empty. Our friend has decided to sell the house. We know there is at least one other neighbor interested and a bunch of realtors’ have been cold-calling. Her plan is to sell this spring and she is leaving it to all interested parties to present an offer. She has said that she would prefer to sell to someone from the neighborhood.

The house is 4200sqft, 2 floors. Could be divided into two units without too much trouble. It is in good shape, but really needs an update (last remodel was early 80s).

This is Hendersonville, TN, and the market is hot right now, especially in our neighborhood.

I’m looking for advice on how to tip the odds in my favor. Is there anything creative I can do to ensure I get the opportunity to purchase the property?

I’m new to real estate investing – this would be my first property. I’m still undecided on whether I would rent or flip. I travel a lot for work, so flipping may be difficult.

Thanks in advance for your help. Please let me know if you need additional information.

Jason

Jay's Pro Services - Jay is the nicest guy you'll ever meet, and he knows his stuff. PM me and I'll give you his number.

@Jim K. I think what @Jaysen Medhurst is saying is that ROI on window replacement is generally 20+ years. New windows will cut your energy bills a little, and they may make your property look better, but there are generally better ways to spend the money (things that will better increase your properties value). Storm windows may be a cheaper way to get the same benefit if all you are looking for is energy efficiency improvements. Hope this helps.

Seeing as how you haven't had any response on this, I'll tell you what I know. I'm new to RE, no properties yet, but I am self-employed (sole proprietor) with a few different streams. I usually pay about $1200 - $1500 per year. Half is for taxes, and the other half is hourly. This is in Nashville. Hope this helps.

As others have said on this thread, I have a great job, it just requires way too much travel. My motivation is to create cash flow that will allow me to reduce my travel time, be more selective about the work I take, and just have more time to spend with my family. I've always been a handy guy, and I love the idea of improving properties. Just need to find a place to start. 

I also have a 90% HELOC on my house. Just got it a few months ago. Through Pinnacle bank, if that helps.

@Cherine Lawrence

Thank you for the advice Cherine!

@Dmitriy Fomichenko

Thank you for the tips Dmitriy! I'm beginning to see that this is a pretty welcoming community.

Jason

@Matt Hudson

Hi Matt,

Do you mind showing me where I can find info on this? For the time being I am only home on the weekends, but I look forward to meeting some people to help answer the million questions I have.

Jason

Jason