All Forum Posts by: Matt Sterling

 Well say the bank is planning on accepting an offer for 200k, If I gave them an offer for 200k and included that I wanted them to do this 2k repair, are they usually not going to accept and come back at 202k firm?   The only advantage I'm getting by asking for them to pay for that repair and closing costs would be I'm not out of pocket that money, its basically factored into the purchase price and therefore in the mortgage.  

I'm making my first offer on a property Monday.  It is currently bank owned and they have been doing tons of updates and are still in the process of doing more and all will be completed before a new owner would take over.  They are also paying off all the back property taxes owed.  

There is one thing that I will be doing if I buy it which will cost around $2k(This is a $200kish property).  Should I include that in my offer? If they do concede that in the final deal, will they basically be adding $2k to whatever their final number really was? So that in reality, I'm not getting a discount at all besides the fact now I'm not 2k out of pocket my first month, instead it's effectively in the mortgage?  Same question with closing costs.

I assume the discount is for every tenant screened, is this correct?

I read your stuff on 2p2 as well, good stuff

Hello all. My name is Matt and I've been a professional poker player since 2004 after I graduated from IU. I now play pretty large PLO games in Cincinnati and other areas after previously playing tourneys til black Friday. I first got into real estate a few years ago after reading a massive thread on a poker forum. The user spec x was a buy and hold investor who did value add and mostly bought properties that weren't listed on MLS. He gave a ton of good insight. I looked at properties around then but never jumped in.

I'm married with 2 kids now so I'm always thinking about the future and I want an exit strategy from poker if need be so I thought real estate would be a great option.  I started reading that thread again, found a link to biggerpockets and listened to tons of podcasts and read the articles/forums.  I've looked at a few properties and hopefully can find a good deal soon.