All Forum Posts by: Des Shei

i will be approaching a fellow investor this week on taking a multi off her hands with seller financing. She owns this free and clear and is N.O.O and has always been that way. do you folks see any issues proceeding with a seller financed transaction? i've been reading up on the SAFE act all evening and it looks like the deal would be exempt. Please share comments or any pitfalls to avoid.
regards,

That property came out great! equally worth mentioning is the quick turnaround.

Jscott already has alot of these items in his blog throughout previous posts. it's great that he will send you a comprehensive list! that's a sign of a true team player.

Jscott,
I'm sure you believe in Karma! if not i hope start soon :)

I hope you think hard. about it. that HOA fee is a huge percentage of your gross rent. You have to also consider that you have alot of your own money tied into this "deal". so the longer you wait out, you may ending up losing even more money. Be cautious.

That's awesome James. Looks like you are gaining momentum! keep us updated and hopefully the next contract does close; it's tough getting financing as im sure you know; the buyer needs to have all their ducks in a row.

H.D.J- You do realize the original post is 4 years old right?

if it's been on the market for that long with the equity potential, perform some extra due diligence as to why the ADOM are that long. Sometimes even the listing agent will give you some reasons.

Corey,
You could/should seriously consider the bridgeport,stratford area. Or CT in general. There are some great deals around; i just picked up two within the past year that cashflow.

I'm in CT and typically most MLS rentals have a 50% of rent commission. obviously commission is negotiable but that seems to be the norm around here.

if it has not been said already i will be the first to say it. contrary to what some posters are saying " agent doesn't want investors to make money" , "agents emotionally tied to the properties" etc i think the reason is quite simple. The agent is simply expecting to make a certain return on their efforts (however little or big the efforts are), by you offering 5k on that property, assuming a 3% comission, that's only $150 dollars; NOT including the broker split. I can surely tell you most realtors aren't in the business because the absolutely love serving investors! they are trying to earn a living just like everyone else. So though not justfied, i can certainly understand why he/she would take it personal.. The amount he/she hoped to make off that deal does not meet his original expectation. that's the bottom line.

happy investing!
Des.