All Forum Posts by: Khadijah New

@Mark Ferguson makes sense. Thank yu

@J Scott thank you for taking time to reply. When I told the realator I wanted to make an offer and told her the offer, she said, "ok, you're low, let me see if he's open to that before doing a formal offer." Should I have told her to submit a formal offer?

@Ugochukwu Opara thanks for replying. And yes, you're correct. I pretty much just emailed her what I wanted to do, she ran it passed the seller and he wasn't interested in the price and wasn't sure if he would counter. She and I have been communicating back and forth but the seller still hasn't countered. But II'm going to take your advice, move on and if they ever get serious I'll offer 5k less.

Thanks again for replying, I really appreciate it!

I actually know the seller's agent so I used her as a dual agent to make the ogfer

@Stephanie Dupuis ok great. Thanks for your help!

said heall,

I put in an offer on a sfh almost a month ago. At first the agent said she wasn't sure if the seller would counter because it was a low offer but he had declined the offer. She came back a few days later and said he would counter but hadn't decided on a price yet. At this point I feel as though it is just taking a ridiculous of time for them to get back with me. I'm wondering if I should tell her I don't have time to wait around and I'm no longer interested in the property. And then check back in 30 days and if it's still available put in another offer and see if they move faster.

@Aaron Mazzrillo Wow! I feel like I should send you a check for that advice. You not only answered my question but explained it in such a way that I can even better explain it to her. I sincerely appreciate your help. I'll update you soon on how things turm out. If you're ever in Ohio, I at least need to buy you lunch. Thanks!

Hi guys,

I'm new to investing and am currently working on my second deal. The first is a wholesale deal and I'm still waiting on a response from the seller/agent. The second is on a 2 family property that the owner owns free and clear.

She is willing to do owner financing but only wants a 4 year term (planning to move to another state once her husband retires), 4.5 interest rate and 10% down. I believe all of these things can be negotiated down but the main sticking point is the price. She dropped the price (home has been on the market for a hear and a half) from 70k to 53k but is refusing to go any lower (emotional attachment, focused on what she paid and how much she put into it.) The comps in the area are around 45k and the home doesn't need any repairs except for a roof in the next 2-3 years. She's gotten an estimate of $3,500.00 and has agreed to pay half the cost of the roof. Now based on everything that I've learned, I know I should only be willing to pay $70% of the arv however she is willing to take payments of $350.00 per month (taxes and insurance included) and the property is currently rented (1 tenant 3 years and 1 new tenant). It's in a so so neighborhood on a really nice street and currently rents for $950.00 (total, however I believe the rents can be increased at least $50.00 per unit). Considering payments to the owner, estimating vacancy, repairs, and landscaping cost the property should net approximately $330.00 per month.

From what I've read and researched it seems that if the seller gets their price then I get my terms. However, do you all think that the price is ok since it's currently rented and will have immediate cash flow. Also, my thoughts are that if I can't get her to drop the interest rate or price then I shouldn't go through with the deal. Lastly, should the down payment be a sticking point. Please give me your thoughts, I'd greatly appreciate any help you all can offer on rather this is a good deal or not or if there are things that should be done to make it a better deal.

Thank you!

@Faith Brashear Hi, I noticed in your post that you mentioned Naca. Have you had any experience with them working with buyers? I tried to work with them a few years ago to purchase a home and they were extremely disorganized and difficult to communicate with(didn't answer the phone etc)

@Brandon Jackson great advice!