I am looking at another property, super close to the main transit line, which is #1 for the property I buy, which will become a rooming house. This first house has an overall "better" price broken down by room, and has parking and is on the main biking/walk trail through town,so I am interested to see how low I could get them. Doing two properties is not an option at this point. Suggestions please?!? --23.233.xx.xxx

I avoid a rooming house where a small apartment building is a better investment. Less problems and better quality of tenants. Will cost more upfront where over time will cost less to maintain. If all utilities are separated out like hydro, heat and water metered the value of the rental complex goes up where it is easier to sell. Right now in the province of Ontario vacancies are really low where only on new construction there are vacancies. Separated out utilities rents are more competitive along with avoid problem tenants as they have unpaid utilities. Usually people start off with four plex then move up. London for example has different areas where some are not good. Most landlords have the 25 per cent down than mortgage the rest. Where some take a risk then use CHMC insurance to have lower down payment which protects the lenders. So if buy a building then reduce all operating costs the building becomes worth more. The most abused utility is hydro where if they are paying no windows will be left open where no heaters will be plugged in. Rooming houses will require sprinklers and central fire alarm system along with constant issues. --216.110.xxx.xxx

First one to speak loses. I would tell them my offer still stands or send a lower offer. Patience and you will own this in about 6 months. --67.61.xxx.xxx

"I have a pending offer on a comparable property. Are you interested in discussing my original offer?" --134.238.xxx.xx

If they come back and it will work then decide which place you like best. --107.147.xx.xx

In reality it's only been a couple of weeks since your last offer. It often takes longer. It's sort of like picking tomatoes, if you pick it too soon it has a green/bitter taste instead of the sweetness that comes with a ripeness. --209.205.xxx.xx

What problem EXACTLY are you solving for the seller? Without knowing that, you are just guessing how to help them (and yourself) --174.131.xxx.xxx

You are also looking at a property that is higher price per room, and considering that purchasing that, so is there some real reason you could not come up a bit with your offer on the first place if you think that one fits your needs better? --76.178.xxx.xxx

Sounds to me like the seller has told his agent to do the deal. He didn't get a higher offer from a qualified buyer. --73.2.xx.xx

Let them sweat for a few days. --73.2.xx.xx

One other thought that is happening in the real estate market is the buyer thinks it's a buyers market and the seller thinks it's a sellers market. I don't remember where I read this article, but I would agree. --67.61.xxx.xxx

Oregon Woodsmoke, the first property is double the number of rooms as the second- so more $ flow, but way more turnover too, for a rooming house. I could come up, it no longer seems to be the one that best suits my needs, as the main transit is crazy close to the second one. Also thought they would drop more, if I came low, property is very "industrial"looking, so not much appeal to most people. --23.233.xx.xxx

THANK-YOU!!! --23.233.xx.xxx

--23.233.xx.xxx

It's over Johnny. --173.28.xx.xxx