All Forum Posts by: Michael Letts

Hello,

First time poster, long time reader! I’m in negotiations on a home in Tennessee and found the home on my own and without an agent. As I am now in negotiations I offered, what I assumed, was a standard offer of $10,000 less on roughly a 350k property. My explanation was that the selling realtor takes 3% commission and since I am with out an agent that 3% (roughly 10k) would be removed from the asking price giving the giving the seller the same amount they wanted and making a more favorable price for me the buyer. 

The agent said ”the commission is decided prior to listing the home in the Listing Agreement with the Seller. It is an agreement between my company and the Seller. As a buyer - whether represented or underrepresented - this is not something you can negotiate, nor is it something that will be reduced in benefit to the buyer”

Thoughts?

@Todd Dexheimer as an out of state investor can you recommend areas to invest and any areas to stay away?

Anyone able to recommend a local broker in the area? Memphis Tennessee or western TN

Happy Mother’s Day All,

Just doing some thinking and I am looking to buy soon probably within the next 1-3 months tops. As I’m relocating to Memphis Tennessee and new to the area I wanted to put myself out there and see if anyone has a recommendation on a mortgage broker they trust.

I am moving for military purposes but have already used my VA loan and not ready to 1031.

Feel free to post or DM open to all topics and advice.

-Mike

@Andrew Akins thank you. Excited to get down there soon. Any advice on specific neighborhoods to get in or stay away from?

@Dean Harris

Thanks!

@Tyler Tapley thank you for the comment, won’t be in town for a few more months but I will reach out

Just wanted to do my introduction

My name is Michael I’m fairly new to real estate and investing but really enjoy it so far.

I own in Newport RI, Annapolis Md and will be relocating to Memphis TN. Essentially each time I move for work I also invest in real estate. Always looking to network and learn.

Hello all, Still trying to figure out how to navigate this site so bare with me! Brief intro I own 5 doors (RI/MD) and am moving to Memphis for work and would like to continue to build the business. Thankfully things are much cheaper but I'm interested in hearing more local opinions about the area, any information is good information. Thinking multi or single families, interested in what areas work, what area are developing, where to stay away from? Always looking for a proper real estate CPA as paying the government less is typical better business, also any networking opportunities, exc.. Again all information is appreciated even if you recommend any bars/restaurants LMK! I'm hoping and believe Memphis has potential, it would be great to see more Americans move to the Midwest I believe there is a lot to offer.