All Forum Posts by: Jonathan Key

Welcome to BP! I look forward to seeing you around!

@Guy Gimenez Great tip, thanks!

Brent - Thank you very much for your response and input, I tried to connect with you but BP thinks I am a spammer, lol!

You make a very good point, I will certainly cross paths with this agent in my future. However I did not know of his requirement to pass on all offers made! THAT is why I enjoy BP so much, I learn something everyday!

I will certainly keep a smile on my face, thank you again Sir!

@Daniel Mohnkern Ahh...I did not think about the bad reputation point. Well put Sir, thank you for your input!

@Neil Aggarwal That is one of my options indeed as I truly do not want to work with this agent. I appreciate your observation.

@Ned Carey Seems like you know me all to well after just this one post! Yes, I do obsess. I will get in the cracks and crevasses of things and probably spend much more time than what is needed. That is part of my personality indeed, but sometimes I do not know when it may be a positive or when it may be a negative. That is why I put it out to BP for some feed back - and I appreciate and welcome your honesty. Thank you!

...and you are right, I think it sounds fishy to me too.

@James Wise Thank you for your direct answer, I do want to avoid being obtuse. I am not sure why this particular agent is motivated to raise prices. Alas, he does in fact do exactly that, but nothing ever sells. Puzzling....

Greetings fellow BPrs and welcome to my first discussion!

First let me give a disclaimer: I generally like Real Estate agents and as a matter of fact I am attending classes in the fall to get my license (not to be a full time agent but as a competitive advantage and possible transition career). But as many of you know there are plenty of bad agents out there. So I am not referring to all REA as sleezeballs, just this one.

This agent is local to my area and is not with a brokerage I have ever heard of, they don't even have a website. This guy signs residential and commercial properties to represent that are in desperate need of repair. Instead of offering FMV he convinces last resort owners to jack up the price 20% or more. He 'oozes' used car salesman in all forms. I've talked to him about properties and walked properties with him, and even I am creeped out. So I am not a fan of his in the least.

For the last few months he has been listing on craigslist a duplex for sale. One side is rented, one is not. The side that is not is in terrible shape and will need a full face-lift. I assume the other side will as well. Rent on each half is $575 for a 2/2 which is a little below value for that area of Texas. He won't post the address so I have not looked up the CAD value, but other duplexes in that area are have a tax value at about $75k. That area of duplexes was built in 1983.

He is asking $100k.

Not. Ever.

I'm going to walk the property so I can get the address and get a full look. But I want to do a deal with the owner directly, which that type of transaction is very prominent in my area. I could get an owner financed deal for $50k-which is the goal here.

I have never tried to side-step a REA, but I don't have the stomach for this one.

Deal aside, has anyone had any experience like this? Should I wait for the listing to expire and then go to the owner? Should I just send the owner an offer letter? What is prudent here?

Or do I walk away?

All suggestions are greatly appreciated and do not constitute legal advise, just great BPrs giving some great input!

@Brandon Duff Thank you for offering such a great look into the world of someone who is self employed. Tough situation but great topic. I am looking forward to what BPrs have to say.

*topic followed

Do both.

No sense in learning everything the hard way. Find an amazing deal - THEN jump in with both feet.

That's crazy! But being a fellow Texan I am not surprised in the least. Some folks around here ain't got no sense. ;)

Good story!

@Jordan Diehm Welcome to BP! You will certainly find a wealth of information and tools to help you on your journey!

Good luck!

No way that will work for home buyers. But the REI that practices the buy and hold model will do well, and rental rates will go up.