All Forum Posts by: Kayla Strozier

Thanks you all for the tips, but it doesn't look like a deal is going to happen. She purchased her townhouse in 2005 for full asking price and while property values have increased significantly, they aren't quite at the point (but almost) of the 2005 price. So she was expecting to get the full price she paid in 2005 plus the $8000 she said she put into fixing it up after her tenant left at the end of May. 

After walking her through my numbers of how I arrived at my offer (reviewing the comps of the other townhomes in the subdivision and taking the highest one and using that as my offer start price minus the 3% savings of the realtor fee) she told me she wasn't giving the property away. She was hoping to get beyond the price of the highest selling townhouse and not split the difference of the realtor commission. Unfortunately for her, if she lists on the MLS, she is still likely not going to get what she wants.

This situation really made me appreciate the value of (good) real estate agents who can explain reality to their clients. There is another townhouse in the subdivision selling for less than what I offered her... I'm considering making an offer on that one. Anyway, thanks again for the tips. 

I have a rental property that is a townhouse. My next-door neighbor to my townhouse has agreed to sell her townhouse to me. We are doing this without realtors. How is earnest money handled in cases of FSBO? Should I just write a check to her that she then has the option of depositing into her personal bank account (but be sure to include very detailed, specific language in the contract regarding the earnest money in case the sale does not go through)?

Any help would be greatly appreciated. Thanks!

@Mike Williams I'll be there! Thanks for setting this up.

@Andrew Fenton I sent you a direct message with a template form.

Hi Andrew! I work in Fulton County so it may be a bit different, but the clerk's office in Rockdale County should be able to direct you to some templates they have that you can fill out. I would start there as I'm sure this is routine practice in the Rockdale County courts as it is here in Fulton. 

@Mike Williams - Good to know! Yes, see you at the next one!

Hi there! I won't be able to attend tomorrow night,  but I'm definitely excited to meet up with other like-minded people especially on the Southside (about time)! I'm a newbie (only have 1 property right now).  Do you hold this event monthly? If so, do you already have a date set for March? Please share. 

And thanks for setting this up!

Hi there! I have a couple of rental properties in Atlanta (where I live) and wanted to start investing in Augusta, GA. Any suggestions on a great real estate agent in the Augusta area? Looking to visit Augusta before the end of the month to meet up. Recently did a cash-out refi on one of my rental properties and gearing up to make the plunge into a long distance investment (reading David Greene's book now). 

I'd appreciate any assistance! Thanks in advance!

I always tell people, the first person to get approved (that being submitted the completed application, copy of ID, documents to support income, background check) will be notified. Then I tell people, the first person notified then has 48 hours to provide a security deposit. During that timeframe, I don't tell anyone else they have not been selected. 

If the first person approved person does not provide the security deposit within 48 hours, then I move on to the second approved person with the same 48 hour timeframe. Once I receive the security deposit, I send a very professional and concise email telling them that someone approved before them paid the security deposit so the unit is no longer available.

Before I receive the applications, I inform people that I use a first approved with money process. Therefore, I review completed applications in the order I receive them to be fair. 

For those who I know aren't going to be approved, I usually send a courteous email with a brief explanation.  

Hi there. First time posting in biggerpockets so really excited. I want to participate in a live foreclosure auction this Tuesday in DeKalb County. I'm specifically looking to bid on one particular property. However, I will be out of town that day and have been looking for a proxy bidding service. Any suggestions? Know of how much I can expect to pay for the service? Thanks in advance!