All Forum Posts by: Shefali R.

Thanks @Ibrahim Hughes. Hopefully it works out - and if it doesn't, atleast we learnt something from the process. 

Their situation is sad as the husband is recently paralyzed due to an accident (which is why short sale was allowed) and is under local treatment. They can't relocate out of this specific house yet as that causes an undue burden. 

we provide washer and dryers in our units because all comparables in our market also provide one (in New Jersey).

@Ryan Lee thanks. They have now given us the approval letter. when we held firm, they have come up with a higher rent (still below market) and offered the relocation $10k in escrow (similar to what @Ibrahim Hughes had suggested before).

we are considering a) 3 month rental agreement with automatic rent escalation if period extends, b) $10k escrow and c) agreement to be supported by guarantor in good standing. lets see where that goes. through it all, we are prepared to walk away if it comes to that.

@George Hermann - I have been wondering whether to start looking at the Bronx. In your experience what is the range of ROI that one could expect in the bronx? Also if one was just starting research, are there any specific neighborhoods you would suggest? Thanks!

@Thomas Blue I access this on realtor.com. It's free. I also like the data on city-data.com by zip code as it shows the sales and median price trends over time. City-data also has tonnes of other info by zip codes. also free. 

We are closing on a unit tomorrow and the seller is out of state. They have moved out the furniture but are unable to move out remaining personal items (kitchen, bathroom, random small pieces). They are willing to do a closing adjustment and pay is to have this removed. What would be a normal ballpark number for us to charge. I will also call a cleaning service to get a sense but don't want them to overcharge as well. Thanks! 

@Ibrahim Hughes thanks! 

since we cant use the financing excuse we are likely going to be in a tough spot. the extension required is 3 months from the closing date indicated by the bank. 

I would connect with your friendly realtor and request them to send you MLS comps. We also use Public websites like Zillow, trulia and realtor to look at neighborhood info. on Zillow you can filter for recently sold also to get data (not perfect but still helpful).

thanks @Ibrahim Hughes.

Our deal was meant to be a cash one. What kind of reasons in your experience work when asking the bank for an extension.

Thanks!

@Jesse Chunn thanks! 

Yes I think we are prepared to let this one go - there will be other deals.