nope nope nope. I'm out again
I took my 20% profit from the fetch buy and pulled right back out again.
I gotta stay focused on the property I want in County Clare. Just last night I floated my first all cash offer to the dairy farmer selling the land. I lowballed a bit, but offered all cash and quick close. And he knows full well that it's easily $300,000 to rebuild, and that's AFTER buying the half acre and 3 rundown structures. And there just aren't that many young irish folks who A: have the time and money to embark on such a project as a "starter home" and B: the property is essentially in the middle of nowhere, from an employment perspective. The ONLY people who would be interested in this property are people who don't need a nearby job, are retired, etc. And unless they work at Trumps' resort or one of the umpteen dairy farms (which are all small and family run anyway) there is nowhere nearby with an employment base. Even Galway City and/or Shannon are a solid hour away, and those aren't exactly teeming metropolises either. As the Irish say, there is Dublin, and then there is Ireland.
it's been on the market for at least a year and nobody has bought it yet. He may very well read all cash, 20% below his ask, and just say "sure, you and mrs subway will make great neighbors (a kilometer down the road of course)"
Or, i will have insulted a kindly old Irish dairy farmer and he will find a polite and charming way of telling me to feck off and come back with a real offer (to be fair, my "low ball" is still a solid number"
I took my 20% profit from the fetch buy and pulled right back out again.
I gotta stay focused on the property I want in County Clare. Just last night I floated my first all cash offer to the dairy farmer selling the land. I lowballed a bit, but offered all cash and quick close. And he knows full well that it's easily $300,000 to rebuild, and that's AFTER buying the half acre and 3 rundown structures. And there just aren't that many young irish folks who A: have the time and money to embark on such a project as a "starter home" and B: the property is essentially in the middle of nowhere, from an employment perspective. The ONLY people who would be interested in this property are people who don't need a nearby job, are retired, etc. And unless they work at Trumps' resort or one of the umpteen dairy farms (which are all small and family run anyway) there is nowhere nearby with an employment base. Even Galway City and/or Shannon are a solid hour away, and those aren't exactly teeming metropolises either. As the Irish say, there is Dublin, and then there is Ireland.
it's been on the market for at least a year and nobody has bought it yet. He may very well read all cash, 20% below his ask, and just say "sure, you and mrs subway will make great neighbors (a kilometer down the road of course)"
Or, i will have insulted a kindly old Irish dairy farmer and he will find a polite and charming way of telling me to feck off and come back with a real offer (to be fair, my "low ball" is still a solid number"
. I suppose i could take a 50k loan to meet his full ask easily, and then pay off that mortgage in a year or two. Right? Don’t people build humble real estate portfolios using bank money?
