All Forum Posts by: Ryan Kearns

I have a property I am selling and on the inspection report there were a few repairs the buyer wanted. We countered with about half of what they wanted. Pretty standard stuff, but here is where I'm stuck.

A week ago the buyer's agent informed us the buyer got covid and due to health issues needed a week extension on accepting our counter or not.  I gave it to them realizing we are in extraordinary times. Today is the expiration of that extension and they just reached out saying they want another 5 day extension as the buyer is in and out of the hospital with covid issues. 

I don't want to be a jerk but I am concerned. I'm worried about the buyer's health, is this a stall tactic? Am I a horrible person for thinking that? What could I ask for in return to grant an additional 5 day extension if I go that route? Should I deny the extension and put the house back on the market? 

Any input appreciated! 

This is very cool and inspiring. Not far from you and looking to do something similar in my area soon. 

Thanks Diego! That is helpful. I'll grab that book for sure. 

I have thoroughly enjoyed reading the posts on here as I think about getting started in real estate investing. Trying to start with figuring out if my current house would be a good rental for me from a financial standpoint. We are building a new home and I am weighing out if to keep our current house since we don't have to sell it from a financial standpoint.

Our home is worth $310,000 and the mortgage on it is $182k which we just refinanced at 30 year for 2.85%. The payment with taxes and insurance is $1350 a month. I could rent it for $2.3-2.5k a month. 

So my question how do I evaluate if keeping the equity tied up in this house is worth the return I'm getting on it. Also, I love the idea of being able to buy and hold some homes in our community. Just not sure if this is the way to start. 

Thanks for any insight or recommended resources.