All Forum Posts by: Chris M.

The buyer for my house took 45 days and still hasn't closed. Now he's saying his bank can't finance the mortgage because he forgot to tell them about his student loans.  My agent says she has a different mortgage company that can still close the deal, but it will take another 3 weeks. So they are asking me to sign an extension. Its costing me $1000/mo just to carry the house.  Should I just agree to give them another 3 weeks for free or ask for a penalty?

I eventually offered 260k cash, but the seller apparently sold it to someone else.  I just wasn't willing to pay for the seller's mistake of not upgrading it.

I'm looking for an investor friendly agent, handyman, contractors in Palm Coast, FL

I already have some rentals there and am interested in buying more, but I need a good team.  I actually have a house that I'm looking to bid on now.  Any recommendations or introductions would be appreciated. 

Thanks

I believe its value is 250k as is.  The sellers are planning on moving to another area in May, so they may be more motivated then to sell then.  Unfortunately, I don't think their realtor has given them good advice on pricing and they think they can sell it for more than its worth especially since it needs to be rehabbed.

This would actually be my primary home and I want to stay in the same neighborhood, so I have less options over where else to buy as compared to an investment.  But I'm prepared to walk away if we can't work out a reasonable price.  Thanks.

I'm interested in purchasing a 3 bedroom co-op that was listed for sale 6 weeks ago.  It's listed at 299k, but after running comps its value is around 250k.  It needs to be gut renovated.  

I offered 240k cash, and listed comps explaining the offer but the selling agent doesn't to be very good and doesn't want to listen to me.  She hasn't even posted pics on the listing.  

Should I just wait a few months and try giving the same offer again?

I'm finishing up a rehab and need to get it listed. I can either pay a flat fee of $500 for MLS listing + 3% to the buyers agent, or I can pay a listing agent the full 6%.

From what I can tell, there isn't that much a difference.  I wouldn't get open houses which I'd like but how much is that worth?  or any hand-holding/help negotiating which I don't think I need.  But being out of state, it would be nice to have someone check up on the house.  I was thinking I might be able to pay someone to check up on the house that would be a lot cheaper.  

What would you do?  Thoughts?

Funny, I've been looking at hundreds of wholesale "deals" and slowly eliminating all of them as crap with a little bit of research and sometimes a few phone calls.  Will is 100% correct on what a wholesaler should do to add value.  However, in my experience wholesalers rarely even look at the properties and just make numbers up that sound good.  Its unfortunate, because I'd happily pay someone to bring me deals to invest in if they were really profitable deals.

I'm doing a flip on a house and already way over budget.  The furnace definitely needs to be replaced.  I can either repair the AC for $400, or replace it for $2400.  The AC is working fine and in good condition, but its 19 yrs old.  Thoughts?  Will buyers pay $2000 more just to know that they have a new AC?

My wife and I will attend.

I understand a lot of investors are also realtors, but as an out of state investor I don't have that option.  It seems that good realtors often specialize in finding cheap properties, wholesaling, etc.  But does that mean they are also just as good at selling to retail buyers?  

In other words, is it better to work with one realtor specializing in buying discounts, and another realtor specializing in selling to retail buyers when doing flips?