All Forum Posts by: Paul Kuegle

I have a flip deal that I'm negotiating with a seller right now.  However my investors that usually fund my deals have their capital tied up right now.  I am trying to think out side of the box to get the deal done.  I don't qualify for financing at a bank & the deal is to tight to be able to use a hard money lender.  I tried to raise more funds from other investors with no success. What I'm thinking of offering is to rent-to-own the house from the seller with an option to sell.  I'll offer 5% down payment & a set monthly payment.  I have access to other funds for the downpayment & renovations.  Has anyone else done this?  Did it work out well?  Thanks for any input. 

Thanks everyone for the advice! It is true some profit is way way better than no profit. I just texted my agent & said I'd accept the offer. I was going over in my head where I went wrong & it was with the renovation budget. I originally estimated $26,000 & it ballooned to $36,000. Then because of the overages I tried to increase my ARV by the same amount which then priced the house out of the market and the buyers just passed on it. Then it sat to long and buyers don't like that. I defiantly learned huge lessons on this project. On to the next!

I received an offer today on a house I flipped. It's been on the market for 55 days now. No other offers. My market is a balanced market with average days on market being 35. I had it listed for $149,900, dropped the price to 139,900. After going back & forth with the buyer the best we could get out of them was &129,400. My break even is $120,000 & I have to split the profit 50/50 with my partner. We were hoping to make at least $10,000 each but this will only be $4,700 each. Should We accept the offer & move on to the next flip or try to hold out for a better offer. Showing are down to 1 ever other week now. And staging is costing us $1100/ month. What would you guys do ?

I recently bought a duplex and moved in the back unit so I would have the back yard mostly to myself. The tenants moved into the front unit and asked if they can put a swing and BBQ in back yard & I said yes. Then on move in day I see they brought a fire pit too and didn't ask me. Should they of asked me? I don't want to have them back there all the time. What should I do? Is it unreasonable to say they cant have that in the back yard, I did said say they can have access to the back yard but didn't expect them to "take it over"... Please let me know your thought. Thanks.

I recently bought a duplex and moved in the back unit so I would have the back yard mostly to myself. The tenants moved into the front unit and asked if they can put a swing and BBQ in back yard & I said yes. Then on move in day I see they brought a fire pit too and didn't ask me. Should they of asked me? I don't want to have them back there all the time. What should I do? Is it unreasonable to say they cant have that in the back yard, I did said say they can have access to the back yard but didn't expect them to "take it over"... Please let me know your thought. Thanks.

Do you say that even if you haven't found another one yet? They will see that I keep posting the ad online...

I had a couple apply where one has a job that make 3 x rent. However they had a house go into foreclosure this year, declared bankruptcy, have no landlord references, currently lives with his mom and he's around 40 and had his money give me the deposit money. Can some one please give me a short script for how to tell them that I am denying his application. I want to keep looking for someone else. Thanks

I had a couple apply where one has a job that make 3 x rent. However they had a house go into foreclosure this year, declared bankruptcy, have no landlord references, currently lives with his mom and he's around 40 and had his money give me the deposit money. Can some one please give me a short script for how to tell them that I am denying his application. I want to keep looking for someone else. Thanks

I just said older because their older than me I'm in my 20's & their in their 40's. I think the reason why I've had so little applicants is because in my market usually every rental unit has laundry on site.   I bought my with nothing in it.  The rent may be a bit high for the area to, I will think about adding laundry or reducing the rent if these applicants fall through.   

I'm going to dig deeper into why they are selling & I may be able to buy it off them.  If I can negotiate a killer deal with them I would probably fix & flip the property.

They said for Dec 1st which is what I want but I'll have to meet with them to make sure they