All Forum Posts by: Scott Long

I'm "bird dogging" and was wondering if I find a listed property and the realtor says the owner is very flexible on price, could I bring it to a another realtor? 

I found a beautiful home in Florrisant, MO. Other homes in the area have sold for $250,000-$350,000. The owner is asking 265,000 and very flexible price. He is looking to retire and just wants out of the home. However he owes more than the asking price. How would I make this deal work? 

The house is in great shape and the only thing that needs to be updated is the water heater. 

Is it unreasonable to talk to a realtor selling a property, who's seller is very flexible on price, and then tell another realtor about the investment property? 

Very helpful advice guys. I'm going to look more into the property, see if I can get them to come down to 120 or so with a cash offer. Estimated rehab cost is around 10k, hopefully it won't change, so if they come down do you think a buyer would be interested in 130? 

Brent, 

I'm sorry for not mentioning this in my post, but the seller is an off market FSBO.

I have found a gem located in St. Louis, MO!

The owner is asking $175,000 because they don't want realtor commission to cut into their profit. They are willing to go down to around $150,000 for a cash buyer. 

I viewed the house and it is in almost immaculate shape. Houses around the area sell for around $140,000, but the other houses in the area don't have a garage attached to the property, a fenced in front and back yard, a master bedroom big enough to fit a king size bed with three dressers and a bathroom! There's also more room in all the other places of the home. 

The roof was replaced, tuck pointed, and shingled with 30 year in 2005. Two out of three bathrooms need new tile, the main bathroom just needs a good cleaning, other than that the plumbing and fixtures are great in all bathrooms. 

The floors are all hardwood, except one bedroom that has 5 year old carpet. The house walls are in good shape, but could use a little touch up paint in certain spots. 

The basement has a very solid foundation and doesn't leak. The floor is concrete with a calm blue paint and the walls are white. There are two big storage rooms, and a divider splinting the basement, which gives it a two room area to bring friends, and to have a workshop in the basement. There's also a sink by the washer and dryer hook up. 

This property is amazing, but I don't have the funds to buy it. I can't pay the mortgage till I can find a buyer, nor have the confidence to get a hard money loan or wholesale it. 

Any advice is much appreciated!

Scott Long 

Hey Linval, 

Thanks for the links. I've been on BP for a few days now, so I've done all the setup things and been to those links. I saved the long threads and am reading them bit by bit. I feel I'm really close to making my first attempt at REI, and figure I just have to go for it. Otherwise it's like taking drivers ed and never driving the car.

Thanks everyone for the welcoming words. The site is amazing! The are so many informative topics, and I'm reading as much as possible. I'm grateful to of found such a place that is willing to give great advice. Look forward to learning a bunch and hope to work with some of y'all in the future. 

My first attempt at purchasing and selling real estate is on the horizon. I plan to start with wholesaling as I lack experience and read that it's a good way to get started. 

I would like to do the deal start to finish, but I've never done this before. I am very nervous and not sure where I stand exactly. My question is should I just got for it, find a great deal and sell the lead to an experienced wholesaler, or take no profit and volunteer my time to ride along and watch in exchange for the deal information? 

Peter, 

Thanks for the encouragement. I haven't started investing yet, but I do plan on working with both sides of the river. In Illinois I'd say it'd be around belleville, Offalon, Milstadt, Waterloo, and the small communities around them. 

There is a bunch of information, and I was in the learning section for hours yesterday. Keep on learning and someday soon hopefully find a good place to begin investing.