All Forum Posts by: Sasanka Garapati

appreciate your response Nicholas.

Hello Biggerpockets community

looking for guidance here we made a offer on a property at 260k with an escalation clause up to 290 k (Comps suggested value:290K). Seller came back and asked for appraisal guarantee we said no, so offer did not win. Offer made on 06 apr 2025 & rejected on 07 apr 2025. 

Today 08 apr 2025 my realtor said the winning offer backed out since they cannot get into a unit until Thursday (10 Apr 2025) and seller is saying they will accept if we go with 285k with 5k appraisal guarantee and inspection need to be completed by end of day tomorrow (09 apr 2025).

This is our first investment property need guidance the seller is rushing things and my gut is suggesting red flags. 

Looking for immediate guidance.

Note: the seller listed the property at 247K.  

Thanks,

@Nathan Gesner  thank you for your response I appreciate your insights into my questions.

Hello BP community, Entering REI world through partnership. Myself and my buddy we have been friends for more than 15 years and we decided to get into real estate through a multi family Househack. We plan to pooling our money for down payment & closing costs. If one of us qualify for the loan amount and choose to have mortgage under one person, Question:1 How does the other claim ownership on the property?

My understanding is this can be done by keeping the property in LLC and be 50/50 partners in LLC. Are there any other ways to claim ownership with out LLC? What is a better way to go about this?

Question:2 If we plan to buy a second property 1 or 2 years down the lane, how would lenders approach the underwriting?

Question:3  Do we need to watch out for any pitfalls in future for scaling our portfolio together or separately? 

@Eric Johnson are you new to investing? I am getting started in DFW area as an investor. If you are experienced on Fix & Flip would love to connect with you.