All Forum Posts by: Todd Mason

@Jake Cohen awesome thank you so much!

@Jake Cohen is there anyway to watch these webinars about managing and furnishing? Is there a link where I can watch it now? Thank you

@Marcus Auerbach, thank you this is great advice! The bones are newer ( plumbing, hvac and electrical) but yes the roof will need some repair in the near future. I thought the same thing with the $103 and ask for closing costs. I understand that ceiling affect. It has been listed for 3 weeks and I am the first offer so I don't feel rushed to accept. They don't even have it on the MLS. I have been looking and analyzing a lot of deals but this is my first offer. I would rather counter and them reject and come back later than get into a bad deal

@Bob Woelfel Thank you for your reply Bob. I have asked the same question as why the seller would not have raised them himself. The price is low for my area but still the numbers are tight you are right. The property has been listed for 3 weeks but they are not putting it on the MLS and I am the first offer that has come along, so I do feel like I am not in a position to jump on it, but to counter and see. I have budgeted $6k for reno of cosmetic but that is a variable

Hey everyone I could really use some help with this one.  I have offered on a duplex with the figures below and seem to be up against a stiff necked seller.  Rents are low and current market does allow for an increase of $100-$200 per unit.  This would be my first deal and in my surrounding area prices like these are non existent.  Just wondering if I should really play hard ball or take the deal to gain experience? Any advice as how to counter back would be great!

List Price: $105,000

Down payment: 25%

Unit one (2/1) Rent as of now: $500

Unit two(1/1) Rent as of now: $350

Total :$850

My offer: $90,000 and seller pay appraisal fee

Seller Counter: $103,000 and would pay appraisal at closing as long as deal goes through

I ran all my numbers at max pay $95k and would cash flow after all expenses $224, the variable would be at those numbers I'd have it professionally managed. I can basically get the same cash flow at the $103k but would have to manage myself, which I was highly thinking of doing anyway but my COC would be 7.61% which I think is good for my first deal

Agent says this is as low as he will go, and would not advise a counter to this. But I want to counter!  Thats it in a nutshell I think, any help would be great thank you!