All Forum Posts by: Robert Niosi

Hi BP,

A list I plan on mailing to has a "OWNER CARE OF" name along with the actual owners name. 

How does this affect addressing on a mail piece? Is this an address I should not mail to?

Thanks!

Lisa I know how you feel. I went to my first real estate meetup here in NY and the whole thing was a sales pitch in which we were asked to not talk till the end. VERY frustrating because they advertised the meetup as a networking event.

It seems like one needs to look a bit deeper to find groups where people want to network and discuss/help each other and not give a sales pitch. 

I think REIA's are solid though. There's a lot of people who are successful investors to network with even if there is a sales pitch.

@Neal Collins I'm really not knowledgable on seller-financing and spent the better part of today trying to learn about it via BP forums and podcast 119. 

Is that what the sellers suggesting just in different words?

Do i then receive rent from the tenants to put towards the payments?

The house also requires some extensive renovation so I'm struggling on trying to wrap my head around the different angles of this deal. 

@Christopher Brainard Thanks! I was thinking I was either missing something, or this seller is really not offering a solution that benefits me at all. 

Fix it up, take over monthly expenses, then still buy it eventually? I can't see how that helps me. 

Hi BP, Here is a message I received from a seller I'm talking to: "There may be a way we both can get sort of what we want. You need your money to fix the place up so income is higher and expenses are lower. And then the value is greater and a decent mortgage is obtainable. We want to eliminate the ongoing monthly expenses and obtain a small amount of cash. Perhaps you can take over the monthly expenses and put your available funds into repairs. When you have achieved the level of income/expense etc. you want then you buy the building. There is a contractual way to do this." Can anyone explain this better and kind of give me your thoughts on this?

@Mark Holencik, that was my initial thought. This is my first deal and I have been pretty transparent with the seller about that. I'm thinking even if my price is as low as @Simon Shih recommended; being what I need, it might work in my favor that the seller knows I'm new and wouldn't be that offended. 

@Stephen Chittenden I have been working on that. It's tough because the seller is spotty, and I have to get in touch randomly via email and phone calls. I think he almost doesn't want to hear what's wrong with it, he just wants his price. That being said, he has lowered it making me think he knows it is way overvalued considering repairs. It's like he's in denial about what really needs to be done.

@Cheryl Packham Wow...those are some higher-level negotiating tactics I wouldn't have thought of. Have you been successful trying your first suggested technique of agreeing to the offer but asking for them to pay for the repairs/closing costs? I feel like this could really work to create some "consideration" by the seller.

Thanks all for the great suggestions! I will update on what happens.

Hi BP,

I recently spoke with a seller who dropped their sale price 14k below the original sale price when I asked for them to give me their rock-bottom price.

I have let it set for a few days trying to decide if the numbers work and they don't. 

They sent me a followup asking if I had considered their price. I have decided it's still way to high to make a profit. 

How would you go about trying to negotiate even lower? They stated it's their rock-bottom but they most likely have no other offers and seem motivated to sell.

Any advice on an approach to further negotiation would be much appreciated!

Welcome Ken!

Awesome man, @Alex Sanfilippo looking forward to hearing about your next investment!

Thanks for the great info!

Hi Liz,

Did you ever find a solution? I'm having the same problem!