The roof
It's probably the most critical part, if it's fucked the rest will follow
roof + basement are both nearly perfect.
House is relatively cheap, but perhaps I want it too much.
Guy says he already has an offer. Not sure if he is lying or telling the truth.
Markets are down. I expect them to continue to go down. But Dear God I love this house, it is so perfect, a well-maintained shit-hole, and both the houses on either side are abandoned and up for sheriff's auction...
I want it and I don't want anyone else to have it. But that is my weakness.
Maybe I should wait. But should I wait if I want something that badly?
If you pay in cash, now that's an argument
He may have another offer... But under which conditions? Hm...
Anyway
I would say do what you "desire"/feel like doing, not what you should do
What's for sure is that real estate is going to crash https://www.investopedia.com/investing/next-housing-recession-2020-predicts-zillow/ Updated Oct 2, 2019
>The housing market in the U.S. could enter a recession in under five years, with online real estate company Zillow predicting that it will happen in 2020. In a research report in which Zillow polled 100 real estate experts and economists about their predictions for the housing market, it disclosed that nearly half of all survey respondents said the next recession will commence in 2020, with the first quarter of the year cited the most as to when the recession will start. The main culprit for the housing recession: monetary policy.
And that was before the corona effect
...
So yeah it's going to lose value, eventually, what won't?
On the flip side, you have guys desperate for cash, selling anything. And guys desperate to park their cash somewhere, anywhere, buying anything
You don't buy it as an investment/asset, but as a liability right? Liability as in you're going to park your ass in it, that's not made to be sold again 2 years from now?
The one thing that really gets me on this property is I actually want it, to live in and use. The basement and backyard are perfect, the location is really fucking bad in terms of crime, but so good in terms of being near industrial space.
But I guess that is my weakness in negotiating. I fell in love with it too soon.
On the other hand, I know that the guy that is selling it is dying. He is attempting to exit all of his properties.
He is one of those smart guys who plays dumb and nice, which makes him an exceptionally good negotiator.
He asks so many innocent questions, things that seem benign, but he is actually just constantly probing for information.
My one advantage over him is that I am way dumber and nicer than he is.
oh and also we are entering a global recession so that should help
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