All Forum Posts by: Nick Barberio

Does anyone have a recommendation for a great in-person negotiations seminar or class to take? I want to improve my business skills, specifically in negotiations. I am from NY but am willing to travel if a seminar comes highly recommended.

@Justin Moser

Hey Justin, 

Not sure if you connected with an agent yet but I used Alexis Cruel from Berkshire. She helped me find my first STR investment property and I could not be happier with her service. She was super knowledgable with the local ordinances and regulations. I would highly recommend using her.

Also, here is an amazing resource to check on the local laws when exploring different townships. 

https://poconovacationhomesale...

I am an agent in Long Island, New York. So I would not recommend her if I didn't think she would do a fantastic job. If you do reach out to her, let her know I connected you! Also, feel free to message me any questions. I have gotten very familiar with the area over the past year. 

Alexis Cruel - (716) 364-1987

 Great! Thanks for the info

@Sean Bramble yes that is what I expected as well. I think what @Doug Pretorius is my best course of action. I appreciate the response from both of you

I am a real estate agent on Long Island, working with a buyer who has $150,000 to put down and is looking to maintain a $4,000 monthly payment (between principal, interest, taxes, and flood insurance). I found a motivated seller who is looking to get $700,000 for their house. Of course, with the going interest rate, my buyer cannot afford this house. However, I checked public records and see that the seller closed on this house in June of 2020. I looked up interest rate during that time so I believe his interest rate should be around 3.7% (possibly lower). I ran numbers and they look like this... 

Purchase Price $ 700,000.00

Down Payment $ 150,000.00 

Subject to Mortgage (3.7%) $ 500,000.00 

Seller Finance (10 year term at 8%) $ 50,000.00 

Subject to Payment $2,301.41 

Seller Finance Payment - $606.64 

Taxes(12,200) + Flood($1,000) - $1,100.00 

Total monthly payment for my buyer - $4,008.05

The seller is motivated because he found a new house he would like to buy but the purchase will be contingent on the sale of his house. I HAVE NEVER DONE A SUB TO DEAL BEFORE. But this seems like it makes sense. I know the seller will need to take out a mortgage for the new house that he wants to buy. I remember Pace saying it is possible to do a sub to deal by somehow off-setting their mortgage debt with the payments that my buyer will making, allowing them to qualify for another mortgage. Can someone please let me know if this is possible and help me understand how to do it? I will be eternally grateful