All Forum Posts by: Terry R.

Hi Everyone,

My question is do you favor replacement cost insurance vs. rebuilding cost insurance? Also, if the property is destroyed and you have only replacement cost insurance do you rebuild or just sell the land at that point? Is it harder to sell just the land at that point?

Thank you both for your time. I put in 2 offers and the first time the seller came down $1000, on the second offer he came down $500. My realtor's advice "...if you are not interested in this property at something very close to the counter, I would just drop the issue."

So I am no longer pursuing because the seller is over priced and I will be finding a new realtor ASAP.

Hi Joel,

I will not owner occupy. Purely an investment. I offered 28.5K less than the asking pricing. When I apply my numbers even what I offered is way too high. So thank you this gives me much to think on in terms of this deal.

I'm fairly new to investing. I have found a duplex that I am interested in. My realtor cannot provide any comps as a duplex has not sold in the past 5 years. How do I know what price to offer? My realtor thinks the price I offered ($28.5K) less the list price was outrageous. Any tips on how to figure out what to offer would be of great help. Thank you all!

Hi Jon,

2 bed/1 bath goes around $800
1 bed/1 bath seems reasonable
efficiency seems reasonable

It's in the Richardson/Garland area.

Total novice here. Was reading on the forums about the 2% rule. I would like to know what everyone feels would be the max offer on the following:

Location: DFW area
5-Plex
Asking Price = 270,000

Owners remarks: Each unit fully remodeled w/stoves, refrigerators, tile, cabinets, appliances, showers & plumbing in 2008. Roof replaced in 2006.

(2) - 2 bed/1 bath currently at $670 ea;
(2) - 1 bed/1 bath at $650 ea;
(1) - efficiency at $475.

$5000 in taxes per year
$200 per month in utilities for gas & water
$325 per month for electric

2% rule = $155,750

I know that the first thing I would do is stop paying utilities. There are 5 separate meters so I don't know why the owner is paying utilities. Water may make sense since the units are presumable small and there is just one central heat/water unit.

Thanks everyone for your thoughts!

Hi, first time duplex/landlord owner. Searching for knowledge and advice on REI. Is it for me? what in terms of finances is necessary? how do I find my first property with little money down? The usual first timer questions.

I'm gonna read through all the blogs - I'm not much a poster just so ya know.