Guest Brad Girling Report post Posted March 25, 2003 Michael my names Brad Girling and live in Canada. I would like to thank you for the quick delivery and for the knowledge and information in the manual. I enjoyed it, learned a lot reading it and like the point that it was straightforward. No crap about rambling on and on about absolutely nothing like what you did yesterday and what’s your plan for tomorrow, like a lot of the stuff I have read so far. But I have a few questions unanswered still but cant think of them right now. But I do have a situation on the other hand?Here it is? My buddies are renting the upper part of a house, and the downstairs is rented by two other guys, but one of the guys downstairs had sort have mentioned to the landlady/owner that he is interested in buying this house. But I know pretty darn sure that he probably couldn’t get a loan from the bank. I was wondering how should I go into this deal and work things out? Thanks everyone Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 25, 2003 Hi, Brad. I appreciate it when someone takes a moment to comment on my book. Thank you for your kind words. I am most happy to hear that you found The Naked Investor to be "straightforward". That was my intent to begin. To cut through all the BS and, instead, lay out a guide to take a novice from reading about real estate to doing real estate. To strip away all the fluff and nonsense that is out there. Thus, The Naked Investor was born. As for the duplex you are considering, much of what you might do depends upon what you want from this property. In other words, what are you looking for with this investment, Brad? Do you want to buy and hold long term? Do you have the cash on hand? Are you able to qualify for a bank loan presently? Or, are you looking to buy and quickly sell for a profit? Is your approach going to be a creative one? A lease purchase or seller financing? What is your exit strategy if and when you get this property?If you can give a few more details about your plans, we can offer some opinions.BTW, why not register and become a member on the board? It isn't required, but you'll find a friendly and helpful group here, willing to help and share. Share this post Link to post Share on other sites
Bradley 0 Report post Posted March 25, 2003 I guess I was looking for more of fast cash, but I was thinking of maybe a lease or subject, I was thinking that taking this step to get in there Im talking to a lady and a man in his mid 20's, I was tyhinking to talk to them what be a whole lot easier. I do know that this guy has asked her or was considering to buy this house. And she was up for selling it Im pretty sure. I think the guy has lived in the house for three years now downstairs. Im pretty sure that the guy prably would like to move upstairs and keep the downstairs as a rental, I was thinking of a Lease strategy would work fine. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 25, 2003 Brad, rather than speculate on what the homeowner might be willing to do or accept, why not contact her directly? Feel her out for her interest and motivation, suggest some possibilites as to what you might like to do, and gauge her reaction.Once done, you'll have a much better idea as to whether or not anything might come about, and we can go from there. Share this post Link to post Share on other sites
Bradley 0 Report post Posted March 25, 2003 sounds good thanks, Ill get back Share this post Link to post Share on other sites
