All Forum Posts by: Keith Cuddeback

Hello Bigger Pockets, 

I am looking for a good real estate attorney in the Tulsa, OK and surrounding area. 

I have run across an opportunity that I think would be a great subject to. Wanting to find a local attorney familiar with the subject to process who can walk me through it.

Thanks All

Quote from @Malcomb Stapel:

While I understand the concept that you are describing, at the end of the day you may just be spinning your wheels on this one. Your working with a Realtor on an MLS listed property, which means probably not a distressed seller. Even if they were, you aren't going to get them to the bargaining table for a one on one conversation, where the two of you can hash out an offer.

What it really comes down to is, do your numbers work at their asking price? If not, bid lower, if so, give them what they want for it and secure the deal. 

 Thanks for response. Also a great point. 

Quote from @John Teachout:

I think you're looking at the wrong basis to make offers. Run the numbers, figure out what you need to get the property for to make it work for you and offer that. If they say yes, then buy it. If they say no, then move on to the next one.

@John Teachout, 

That is a great thought. I will definitely keep that in mind. Make the offer that works best for me and move on! Excellent advice. Thanks much!

@Account Closed

Thanks for the responses. I will keep those suggestions in mind. Thanks for the time. 

Keith

Quote from @Theresa Harris:

The person isn't going to want to sell their house for the loan balance and closing costs in this market.  If they've own the home for a while, they will have paid down the mortgage.  If you want to put in a good 2nd offer, talk to your realtor and ask what they think market price is. You can go a bit below it, but if you keep putting in low ball offers, you may piss off the seller.

Thanks Theresa.
My point of view, as an investor, looking for a deal, is the seller wants to get rid of the property. My 1st offer already pissed him off, so I’m not concerned about that. I am simply looking for a way for the seller to complete his/her goal while I try to accomplish mine. In this situation the seller wouldn’t have to bring anything to the closing table and I could get a property under market value. Win-win of you ask me. The seller always has the option to reject my offer. Thanks for your response. 

Hello Bigger Pockets.  

New to the process and working to find my first property. I have found a property on the MLS and looked at it with my realtor.

I estimated that my repair costs would be around 25k. I gave a low ball offer to start (35K below asking price, which was rejected). 

I'd like to find a way to find out the seller's loan balance and make a 2nd offer. I thought that offering loan balance plus closing cost could be enticing. Of course that total would have to be at or below my max asking price based on the BP calculators.  I thought about calling the listing broker directly, or asking my realtor to do it.

Any thoughts or suggestions are greatly appreciated. Thanks

Keith Cuddeback

Thanks to everyone's responses. They were helpful. 

Hello Bigger Pockets. This is my first forum post. I am a new investor. I have worked in the investment area as a contractor, but this is the first investment personally. I am intrigued by the BRRR method, as a first time investor with rehab skills. My goal for 2022 is to purchase 6 units by the end of the year. My cash reserves aren't very deep, but enough to get started. Here is my question. As a first time investor, would it make more sense to purchase a few turn key, rent ready, cash flowing units, at a potentially higher purchase price or spend time researching for a deal to BRRR, with its many variables? Just looking for some input. Thanks to all.