WE DID IT!![]
1st positive cashflow deal over the line! 2brm heritage listed & vendor wants to stay on as long term tenant. We were gazumped on 1 other property, 2 we are waiting to hear & we jumped off the cliff & offered on a property that we saw only on the ‘net’. Due diligence proved cashflow + so we faxed our offer with customised terms & conditions to the realtor-who was so gobsmacked he said if the vendor accepts he’ll knock off the day.Vendor accepted but will run it passed his recently divorced wife & reply. The mid north coast is definitely the land of opportunity – why wasn’t I doing this years ago.
Thanks for the well wishes simon & 4walls.
To Sooshie, so stoked you’ve adopted the ‘No problems, only solutions’ motto[]
Brett
Congrats! By the way, I like to change my motto on a monthly basis, so they don’t get stale, but I’m glad you took notice of that one. I always believe things happen for a reason.
Hi Brett. Curious to know about the vendor turning long-term tenant. Was this part of the vendor’s condition, or was it just mentioned in passing?
Also, did you have the lease signed at settlement, or are you about to do this?
Any special considertation for a vendor-become-tenant deal? Kaye and I are interested in this type of deal.
Micheal&Kaye this was actually a deal we sourced from family encouraged by the spotters fee-so we were already aware of the vendor’s situation.Loves her home that she has completely renovated but due to financial difficulty wants to be elligable for rent assistance.The lease will be signed at settlement with the condition that we don’t increase rent for 12 months.Lease option didn’t suit as she plans to split when her daughter finnishes primary. Brett