mamasanta25 0 Report post Posted March 24, 2003 Hello Michael, I e-mailed you, but I know it takes like an hour or two to get there, so I wanted to let you know, the rental rate for the particular ranch for 175,000 would be $1200-$1500, no surprise, right. So, everyone else, I am dealing with a seller who is either playing games with me for fun, or simply confused. He told me he wants $2700 for a monthly rent on a property that would not rent out for more than $1500. He was taking me in circles during our phone conversation. Specifically, he told me that he had people lining up to buy his home, and that if he hasn't closed a deal after awhile, he would need me. I told him, okay, well, it sounds like I can't help you at this time then, and he said, oh, well if you can get it sold quicker, then yes, I need your help. He was saying he knows more about l/p's than I do, and I told him, oh, well, then I could just simply provide you with the contracts and go from there, and he was like, NO, I don't want to deal with anything, I am busy enough. So, I was trying to find out where we could go from here, but in the end, he let me go to another call, and told me to e-mail him the faq's and he would be in touch. But he claims he DOES need my help. We shall see. Share this post Link to post Share on other sites
JerseyJeff 0 Report post Posted March 24, 2003 Samantha, Sorry to hear about the potential runaround. Look at it this way, all experiences, whether good or bad, are learning experiences. You are better off now then you were yesterday. Simply stay within what your Comps state are true, and make him an offer if asked. If he laughs and says he can get twice as much in rent, wish him good luck, and tell him if he would like to speak with you at any time, just call. This way, if he is playing games, you won't waste anymore time, and if he is serious, he'll either accept your offer, or he'll call you back, in which case, you would now he really needs your help. If it doesn't work out, it wasn't meant to be. It's better to walk away, then get involved contractually with someone who is playing games because that may turn out to be a nightmare. If that happens, like MC says, that bad experience might end your real estate career before it ever began. Good luck and keep us posted, JerseyJeff Share this post Link to post Share on other sites
-Tony- 0 Report post Posted March 24, 2003 mamasanta25, if you think he is playing games. Why not do a short offer form up with what would be fair for you and him and email it to him. this way he will know you are serious and only give him 24-48hr to respond. I don't know for sure how MC would say but I would bid bellow what your willing in case he counters that would give you a little cushion Tony Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 24, 2003 No surprises there, indeed, Samantha. Without wasting too much more time with this homeowner, I would tell him what your research uncovered as far as the market rent is concerned.Ask him how he arrived at his rent figure, and if he is willing to accept a $1,500 monthly negative cash flow. He won't, of course, but you'll have let him know you don't suffer fools gladly.Then, leave him your contact info and don't look back. JJ is right. All experiences are valuable ones, although it may not seem like it at this time. You are wiser today than you were yesterday as a result of all this.Tony's advice is fine, too. You have nothing to lose and experience to gain. But I would really low ball this wise guy. You won't get the deal, but you will get some satisfaction knowing he's going to be ranting about your offer . Share this post Link to post Share on other sites
-Tony- 0 Report post Posted March 24, 2003 MichaelC, you are evil lol. What was that 80's movie? Hackers "mess with the best die like the rest" Tony Share this post Link to post Share on other sites
mamasanta25 0 Report post Posted March 24, 2003 Thanks for your advice guys, much appreciated. Michael, do you think it matters if I e-mail him that response and question? I sent him the faq's, so he has my contact info. I could e-mail him letting him know what I found, and if he would still like to formulate a deal. If you think that is sort of cowardly, feel free to tell me, I was just wondering if that would make any difference. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 24, 2003 No, Samantha, I don't think it matters if you email the reply I suggested, because I don't think this guy is serious. Or, if he is, then he is very ignorant about the local real estate market. Either way, you probably won't be doing business with him immediately.Personally, I would prefer to call for the fun of it. But, that's me. You, on the other hand, should call for the experience of it. Share this post Link to post Share on other sites
mamasanta25 0 Report post Posted March 24, 2003 Okay, I will call him instead of e-mailing him. I will say, "I just wanted to make sure, did you say you would ask for $2700 in rent? OH, okay, I just wanted to make sure I had that right, because that is clearly high for this area. The most you could realistically ask for is $1500. Would that cover your monthly payment?" Let me know if that will work. Thanks all.Samantha Share this post Link to post Share on other sites
