OfflineO.k I am meeting with a very anxious seller on Friday to look at 2 properties. This man seems like he has been an investor for many years. he also seems like he is ready to downsize and has offered me 2 properties at great prices. (see my post "WOW what a phone call") If all goes well this will be the first time I have used a sales agreement and locked in a property let alone 2.
Questions?
When we agree on a price I fill out sales agreement. Do I tell him I am a wholesaler ? I mean apparently this man is not a rookie in the RI field. He will be expecting something from me that is concrete I am sure.
The investor is gonna want to see the properties before he will buy how do I arrange that with the seller?
What types of things should I be looking for when I take a tour of the multiplex? What questions should I ask that will help me in assigning this property?
I must be crazy!! I am getting ready to sign a purchase agreement on not 1 but 2 houses. I have no money, no credit and well... nothing!
I keep asking myself "Are you nuts" and I keep answering myself " I can do this!"
NO GUTS... NO GLORY!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
Carol Stinson
You are TCB babay! Takin care of Business! Go girl, you're right, you can do it!!
Psalms 118:23 "This is the LORD's doing; it is marvellous in our eyes."
What types of things should I be looking for when I take a tour of the multiplex? What questions should I ask that will help me in assigning this property?
The seller will probably have a sheet showing the rent, expenses, cash flow, etc. I would think that info would be important for the investor to know. I know the bank wants to see it on rental properties I'm asking to borrow money on. (sorry I forgot what it's called).
Rina
P.S. Make sure he shows you every unit before you offer. Not just say "The others are just like this one." Not all tenants treat apartments the same.
P.S.S. Good job!, by the way, and good luck!
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
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"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
Thanks Elena I needed that!
NO GUTS... NO GLORY!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
Carol Stinson
Have a checklist, the roof, the plumbing, the electrical, the heating, the cooling. All the big ticket items of course. Sorry, I forgot to answer that on my last post.
Psalms 118:23 "This is the LORD's doing; it is marvellous in our eyes."
just wondering how this deal has progressed for you? Are you proceeding with it?
Laura
Just think, not long ago I was telling you what a thread is. Great work, lets make sure you write a post on a great deal that you went crazy over....Jan