All Forum Posts by: Stuart Birdsong

@Cameron Price A quoted interest rate is meaningless, and attempting to negotiate a lower interest rate may make you feel like you have won, but may not amount to any savings in the end, or a better return. Negotiate better terms of your loan, Lower fees, longer AM, longer fixed rate period, etc.....This is just an example, but, A lower interest rate may mean higher origination and lender fees, a higher interest rate(by 1/4 point) may cut out all your fees altogether. that .25 point of savings may amount to 300/year in savings but your fees cost 3,000 to originate the loan. The higher interest rate may have $500 origination fees for 200 annual savings. That would take you 6 years for the lower interest rate to start paying dividends. Just my opinion though, you should really consult with some of the lenders on here @Charlie Fitzgerald or @Upen Patel to name a few

@Brie SchmidtAre you required to have a Lawyer fight them in Illinois? Or can you ask a broker to help you do this? In Colorado, we, as agents/brokers, can help clients fight their annual assessment and have had great success doing so. However, I realize this is pertinent to your location.

@Travis Sperr Has good advice, especially regarding the tax implications. In addition, I would be very careful assuming that we will see 15% appreciation over the next 3 years given the substantial growth we have seen over the past 3 years. Just my opinion though.

@Jared McCool In my experience, and more importantly, in my local market Assessed value and actual market value are different. Assessed value is usually somewhere around 75-80% of the Actual market value. Property is assessed on an annual basis in Fort Collins, where I live, and is determined by previous years' sales. I don't know if this relates to your local market though. I hope this helps

@Terry Mclain Welcome to BP! Best of luck in your endeavors' 

@Devonta Edwards Are you trying to become an agent or just your own personal investments?

@Chris Johnson If the only question you have asked them is why are the selling their home, then unless they want to share that with you, your conversation is going to end right there. If you asking them other questions such as 'what are you going to do after you sell the house? or if you don't sell the house to me what are you going to do with the home? These are just some ideas about how to extract the motivation without bluntly saying 'why are you selling'. Other ways to phrase this are, do you have a particular closing date that is best for you? Do you need additional time in the home before we close?...... Obviously you can put your own spin on this. I have just found this to be a way to find their deeper motivation for selling the home. Hope this helps

@Bill Gulley That was one of the most interesting posts I have read since joining BP. I am fully aware of TIC but have never thought of it as an element to be used for acquisition. Even though, now that you have pointed it out it makes complete sense. With the correct application that can be a great tool moving forward. Thanks!

@Jesse Jenks-Kline Welcome to BP and congrats on your successes. I am an agent/ investor up in Fort Collins. Cheers!

@Matt Good You have to disclose that you are a broker whether selling or buying, but as far as you making low offers on properties it shouldn't affect you. You may get a reputation amongst your local brokers as the guy who makes low offers, but if you are using another broker to do that currently then you already are that guy.  If you are concerned about how people view you if you are putting in low offers then that is an issue you are going to have live with if that is your business. Just my opinion though