- Joined
- Dec 24, 2008
- Messages
- 106
Yesterday we had a great night at Calgary Rein meeting. Barry`s presentation about Condo management was very informative as well as scary in terms of how investors must obey Condo Board Rules.
Now, the situation is as Russell stated, some what universe is helping you once you tell everyone that you are in the business.
My Landlord (yes I know I should be one, but I am a newbee) called me and asked me if I am interested buying her place. I said "Sure", she told me she is asking 255K, and guess what I told her; is that the best you can do? She dropped 5K by the end of conversation and will come up with another asking price after talking to her sister.
And I asked her; Can you take your payments by monthly installments or you want cash now? She is ok with owner financing, no mortgage a little downpayment, and a fair market value.
My question is; With agreement for sale, knowing Condo Boards are cruel, what questions do I need to be asking that I am not?
My exit is to stay by end of 2010 and find a tenant or tenant/buyer.
Thanks in Advance
Now, the situation is as Russell stated, some what universe is helping you once you tell everyone that you are in the business.
My Landlord (yes I know I should be one, but I am a newbee) called me and asked me if I am interested buying her place. I said "Sure", she told me she is asking 255K, and guess what I told her; is that the best you can do? She dropped 5K by the end of conversation and will come up with another asking price after talking to her sister.
And I asked her; Can you take your payments by monthly installments or you want cash now? She is ok with owner financing, no mortgage a little downpayment, and a fair market value.
My question is; With agreement for sale, knowing Condo Boards are cruel, what questions do I need to be asking that I am not?
My exit is to stay by end of 2010 and find a tenant or tenant/buyer.
Thanks in Advance