All Forum Posts by: Tim B.

I think you’r paying the price for shady wholesalers. 

You could/should offer a small non-refundable EMD, say $5k if that's equal to a couple month's rent. You could also ask if you could do your inspection prior to going under contract and then make an offer without the inspection contingency.

The seller 100% does not want to go under contract with someone who isn’t going to close or is going to ask for a discount after it’s under contract. Prior to going pending the power is about 90/10 in favor of the seller after it’s us. Contract it’s about 80/20 for the buyer. 

The last property I sold I countered with 1) the buyer's inspection is a yes/no within 5 days, no discounts will be given. 2) they asked for $5k off and I countered with I would discount up to $5k but the amount of the discount is the amount of EMD that is non-refundable. They put up the non-refundable $5k and closed 45 days later, we were both happy. As a seller I wouldn't let anyone tie up my property that I wasn't AT LEAST 90% sure would close (not wanted to close, not said they would close.) and that number is probably closer to 95%.

TLDR: if you offer a couple months of “rent” as non-refundable earnest money you’ll probably get the deal. Add getting the inspection done prior to going pending and you should be fine. Good luck. 

Have 11 MT rentals. I started using FF years ago and it has been mostly reliable. You do have to wait for people to look and then engage them yourself most of the time. Typically the tenants are good because they are 99% travel workers on there. I have had an issue with one person in 4 years. Last year I had to start doing 30+ day listings on Airbnb to fill some openings. Have used FB groups for travel nurses and college rentals as well but with limited success. If you are a pro member and get access to Rent Redi you can also list on multiple sites for very cheap. I have had a few tenants come from the Zillow listings. Keeping one full is pretty easy. The more places you have the more lines you need in the water at all times. 

UMortgage is great and a national broker.  @Tyler Hodgson would be the best resource.  

@Tim B. pm sent! I'd be happy to help!