All Forum Posts by: Account Closed

Depending on how bad he is, you could run into real problems getting him to move out prior to closing. I've run into sellers that were relatively motivated to sell, but couldn't get their stuff packed up to move. The volume of stuff is too great to pack in any reasonable period of time. If he has a real disorder, he probably isn't just going to throw everything out. People that get an attachment to things are also likely to overvalue their personal residence. It's their largest possession after all. So, I'm not sure you're more likely to get a good deal from him than anyone else. However, once he has moved on, if it remains full of stuff, then there might be some real possibilities.

Also, if he really has a disorder, he may not have the ability to negotiate with you. You would need to be sure that there isn't someone else that handles his finances. I was involved in a deal where the supposed seller didn't actually have the capacity to sell, because they had been deemed incompetent. That was a mess. Now if I even suspect there is some real impairment, I look into that issue first.

Other than being behind on his HOA, what makes you think he'll be motivated to provide a good deal? Is he to a point where he's in danger of getting foreclosed on by the HOA?

It makes a huge difference if the structure is a single story ranch or a 3 story brownstone. Some settling occurs over time on all houses. It isn't normal though to have to put that much effort into getting the door to open. I've had difficulty in the rainy season with some doors because they swell a little bit. You should be able to look at the roof line to see any obvious slant or any cracks in the mortar between bricks. If the house is on a concrete foundation, walk around the house and look for any spots where the soil is missing or a hole is obvious. If the house is on post & pier, that is typically an easy enough fix. A few thousand dollars to have someone fix it or a few hundred dollars for those who are DIYers.

 You could write up the offer and "low ball" it based on the problem or you could put a contingency in the offer based on "inspection of the foundation".

I looked at a two story in Seattle that had a bit of a slant on the roof line in the front and when we went around back we saw that the 600' high hill behind the house had slid into the back yard against the house. I passed.

Hi guys, came across your post. I'm looking to partner with local RE professionals on a multifamily portfolio in Huntsville we are working on. If interested, DM me! Thanks!

@Edwin L.

Yes, we have a group for bay area investors who are currently investing in Hunstville. Dm me and I can add you to that group

Sheila, you are correct about the MFH market in Huntsville, it is all being bought slowly but surely. Huntsville is about to POP within the next 3-5 years due to all of the jobs/families that are coming. 

I have been living in Huntsville since 2004 and have seen all of the numerous changes we are making to improve our city, we are growing fast and it's crazy!

There are several good zip codes to check in Huntsville for MFH's, here a few that I think are hot: 35801, 35816 and 35805. 

Maybe we can grab that coffee upon your arrival in Huntsville, safe travels! 

I’m so excited because I just closed on my 10th out of state unit today! I did my first deal ever exactly 10 months ago, thanks to the Bigger Pockets podcast, a lot of library books and a lot of good people. Before this I was an environmental education teacher for over a decade, and last year I got hooked when my friend had me listen to the podcast. So when yet another grant-funded position ended earlier this year, I chose to take a break from full time work and focus on RE instead...and it’s been so amazing!!

On my break I took classes in construction management and spent a lot of time going to meetups. Now I’m working as a project manager for a GC to get real world experience (building a ground up affordable housing development in LA), and I’m getting my real estate license. I also donate 1% of all gross revenue (not just profits) from real estate investments to affordable housing and community development, and am partnering with other investors to create a social equity financial model for our rental properties. More on that when I set up the blog. 

So my commitment to social justice hasn’t gone away, it’s just transformed into this new field (new to me) of real estate investing. I’m also really passionate about my non-profit colleagues finding their way to financial freedom as well. (If you can only read one book, read Your Money or Your Life). So far I’ve got 4 houses and 3 duplexes with none of my own cash invested except the first deal, and my goal is to be at 30 units with at least $60,000/year of net cash flow within the next 3 years.

My wife loves me AND is sick of me talking real estate all the time lol so if people ever want to catch up and talk RE I’m in! Some other folks in LA like @John Koster and @Shiva Bhaskar and I like to connect on out of state investing over beers every couple of months, and a new thing we’re talking about too is Opportunity Zones.

So anyway, I haven’t really shared too much of my story here and I just wanted to spread some inspiration for other go getters and life changers on the forums. 

As @Alexander Felice says, I think you’ve got to be a little obsessed. And take action! Thanks for all those who have supported me so far and to many more!