All Forum Posts by: Max Mac Phail

Sorry, got cut off by my clumsy hands.

Previously I had purchased a Vegas foreclosure in 2011, the idea of getting a house that needs love doesn't phase me, only paying too much. Agent thought it wasn't ideal for us to do so since it is on the high end of our budget and sight unseen. This is a house in far better neighborhood than other properties in our price range, much better, newer neighborhood, schools and amenities.

The only thing we are concerned about is having to go back to the sellers if the tenants leave the house in less than desired condition.

Matt, we are not in a rush, this isn't my first purchase, previously I purchased a foreclosure

We asked for a showing after driving by yesterday. Current tenant had a death in the family and out of town visitors are in the house until Wednesday. Our agent called today and mentioned that there was already an offer in on the house and that the LA was friendly enough to offer a 15 inspection period (double the normal 7) and a $50 option.

The way I view it is a $50 gamble before we call in the inspector.

My family is growing it is time to move out of our apartment and into a house, we have been looking for houses and are about to make an offer on a primary residence sight unseen. The house is currently a rental in a hot part of North Tarrant county here in Texas, listing price is about 5% below what similar houses are going for, so we are going in over asking. Listing agent mentioned there was already an offer in that hasn't been opened (great news), but most houses here are spending no more than 10 DOM. I am quite nervous about going in over and then having to negotiate down if there is damage from current tenants or if floors are destroyed. This is not first time I have done this also, my last house was also an offer sight unseen.

What is the best way to approach this in the instance my offer gets accepted? Long term this property will become a rental in about 2-3 when we are in a better equity position and can cashflow.

Thanks Kathy! I joined the group last night after following the thread!

Hi Kathy, it sounds like the meetups are great. I'm newbie to BP and both myself and my girlfriend are interested in learning more and would love to attend the next one. Any ideas on a November meetup?

Thanks DFW investors! @Shane Woods, is there a thread to follow for DFW meetups? I would love to learn more about the market, it seems to be at the extremes now. I think I am going to be in the market for a primary residence and an investment. Ideally, I'm looking for two houses, one to live and turn in a year and one that can turn in about 90 days.

My timeline was hopefully to get something going by February, but after a few recent weeks of chaos around every corner, it seems the idea of waiting to get a little bit of seed $$ is waiting too long. Thanks for the encouragement.

Thanks everyone!

Thanks George; it's dangerous when FEMA is buying houses in your town. I heard about the flooding on Main ST. I grew up in the area, so I am familiar with the town. I'm trying to help someone out that needs to sell quickly, I didn't realize how brutal the conditions actually were. Thanks for the input, I appreciate it everyone!