Contracts and Offers

So, I've got three properties I have been looking at for the past 2 weeks and it is finally time to DECIDE!! This is going to be the week. It has been 5+ years since my last purchase and so I am having some jitters but this is it. All three are priced to buy and will at the very worst provide a nice positive cash flow status on each after repairs. Just have to run the numbers and decide on which one is best for now. Wish me luck!!!

This house I have had under contract since April... Yes, the owner kept extending it! I had a call last week from a NY buyer who said she had someone in Greenville partnering with her and wanted to see it. He looked at it Friday and today she called me to make an offer. I had marketed it for $10K, then 9K, then 8500. I have it under contract for $6500 (price reduced 2x).. They offered $7200. I countered with $8000 and they countered with $7800. I said ok. I have to get the contract updated again tomorrow and the cash is already in Anderson so the closing will be next week. They are buying properties in this area and want me to find more for them.

Greetings DGs

I would like to know if anyone can advice me on how to do my comps. I got my properties emailed to me, now I need to know how to run the comps. Please let me know, thank you.

Deimen

I have the house under P&S for 60% of FMV. 16 day Inspection period. I did my inspection and the house was GREAT !

Now I need to get my buyer in to check out the house... The seller agent is being VERY dificult !

WHat should I do? How do you get your buyer into the house ??? HELP !!

This question is about the offer formula that Dean had talked about that, if Im not mistaken, Matt Larson generated. On the offer formula when deducting for "market adjustments, commissions, closing costs. etc etc.... What is the starting point? I think that I had read in there maybe in one spot where it said you want to start your formula at the LP (or asking price). Or was it the estimated value. I know that the estimated value is just relative but wasn't quite sure all the same. If anyone has read the book and knows what I'm talking about or just knows the answer, I'd really appreciate it. I'd hate to be asking for too much!!! Thanks again

I thought i had found a great investor friendly agent but today she sent me a Buyers/Tenant Agency Agreement which as i read it wants to tie me to her brokerage and her. It said that any signs or advertisements for properties being offer for sale we have to go through her. We are not allowed to contact the sellers agent or seller with out her. To me this seems designed for the retail buyer. So my question is how do i deal with this? I like the agent and she has already sent us properties we want to put offer in for but i do not want to be locked in. Has anyone had this problem?

Louise

We have put out probably 8 offers so far, and we got one accepted!

FMV, roughly $218,000, Got it under contract, $128,000!

We just got back from doing the inspection. Property is is FANTASTIC shape !

We have a 16 day inspection period. So I gotta start marketing this thing ASAP!

Bad news is its a short sale, the lady needs to leave town ASAP.... We are just waiting on the bank to approve it. Lets cross our fingers !!!

-SUPER psyched, Lewis & Sam

Hey, can you say FINALLY?? Got my first deal done today. It was an assignment and my profit was $2000.00!!!

Oh happy day!!! (music playing)

Shirley

Ive come across a gentleman that has apartment building with
6 until and on a lower level it has a laundry mat and a piece of
commerical front you could rent out also. I do not know
how to work the numbers here to find out if this is a deal
worth making. How do I go about this.
Where do I start? Please help I know there is a deal here.

Thanks,
Cecil

I have a solid lease agreement and purchase agreement (giving me the option to purchase the property during a specified time frame) but I can't find an option agreement anywhere. To make sure we're all on the same page, the option agreement is the contract that gives me control of a property without ownership so I can then lease it out to a tenant/buyer instead of just live in it myself. Could anyone supply me with one of those or tell me where to get one?