Study: More 18- to 34-year-olds live with parents than anywhere else

I should clarify that I'm more interested in flipping than renting. Doubt I'd want to put up with the hassles of property management for some asshole college students.

 

Some do. And some insist the seller meet them in the middle or they'll walk away (seller has something at stake, too, and it might be worth it not to have to put the house on the market again). Then again, part of a buyer's real-estate agent's job is to have a pretty good idea what the appraisal will say and get the buyer the house for the lowest possible price (which typically means coming in with an offer below the appraisal).

 

Don't you have to do a most of the work yourself to have a chance of making money?

 

It's easy if you have a twin brother.

 

Left at 17. They gave me a hundred twenty five bucks for a washing machine, and I ain't looked back.

 

Not if you can find undocumented immigrants that will do the work for a low wage.

 

I looked for two years before finding my current house, making several offers during that time. Each offer included an appraisal contingency that allowed me to walk away if the appraisal was not at least as much as the contract price. I used this with one house to get the sellers to come down on their price. I was confident the appraisal would come in low and then the sellers would have to either come down or I'd walk. They did come down, although I walked for other reasons.

I also inserted language that started the time running for things like the inspection from the date of the appraisal so I wouldn't sink money into inspections only to find the house didn't appraise and we weren't able to agree on a price or be jammed on time to get this stuff done.

The appraisal contingency language came on a standard form. I wrote in the timing language.

 

We used our escalation clause probably more than we should have, and ended up getting the bid at $7,000 above asking. The appraisal then came in $5,000 below asking, and the seller came down by the entire 12 grand immediately.

I'm pretty sure we didn't have an appraisal contingency, either. Maybe we were just lucky to avoid drama.

 

Not even Hulk Hogan, apparently.

 

That has the makings of a Johnny Cash song. Or at least Kris Kristofferson.

 

I'd rather hear Johnny sing it, than Kris. He's Dylan-awful.

 

Don't look back, son
Don't be seen
Here's all our money --
for a washin' machine