Thursday, September 08, 2005
Sometimes They Call Back
For some strange reason, the seller of the upside-down house I inquired about over the weekend is still calling me. If you recall, he was the first person I called back the other night and left a message on his voicemail, saying the numbers just didn't work for me. About 5-10 mins. after I left that message, he called me back and left a message, which I ignored, since he obviously hadn't listened to my voicemail yet. Well, yesterday afternoon, I'm in a meeting with my cell phone's ringer off when I get another voicemail from the guy. When I get home, I listen to the message, and it's obvious either he still hadn't listened to my voicemail, or he had and is pretending like he hadn't. Again, I decide to ignore it. I figure if I get one more call from him, I'll either answer it or call him back, depending on my situation at the time. I figure this guy is getting desperate, since the end of the month is right around the corner and he'll be faced with a $1,100+/mo bill to pay. My thinking - as is my wife's - is that this is another investor who is hoping to unload this property to a newbie investor. While I still consider myself 'new', I have enough sense to realize a bad investment. The only reason I would take over this house is if the market here was appreciating quickly with no signs of a let-down, and I would take over Sub2 and then quickly resell. But that's not happening here.
Subscribe to:
Post Comments (Atom)
2 comments:
This sounds like a motivated seller. You said you figured the FMV of this house to be $103,000 to $110,000. Why not offer a low ball offer? I know you said the total leins on the place were around $125,000, but, if this is an investor, maybe he'll decide to make up the difference between your offer and the leins himself just to get out of it. If you offer $95,000 or a bit higher, at worst, he'll turn you down. And since you'll have made an offer, he probably won't call you anymore. You never know what people will do and you can't get a property without making an offer!
This is true. I may do that if for no other reason that what you said: to end the calling. I want to start getting some RE assets in my pocket, because I have this underlying assumption that prices here are going to be going up within the next year. Thanks for the tip!
Post a Comment