All Forum Posts by: Alex Deacon

@David Gonzalez You may be wise to start with a good agent and be on their team. 50/50 split would be fair. You can also go at it alone with Keller Williams. You are on a 70/30 split till you reach a certain level of sales then you go to 100%. You would keep all of the commission.

@Eric Siebert The use of  Zillow and other sites can help you evaluate market values and rent prices to get a general idea. But to use those values as the basis of your investments and rent ranges are not going to work. Rents and Sales prices can vary from one zip code to another and from one block to another. In my market a home one street over may be worth $300k and the next street the same home because its a busy street or there is on street parking or the rest of the homes are not as nice will be only worth $200k. The only way to evaluate pricing is to learn your market. Know it like the back of your hand. Talk with other agents. Drive by some of the comparable sales and similar square footage homes to see why one sold for more than the other. There is no substitute. 

@Krystal Wilbanks  Yes thats the starting bid. Sometimes they will have a buy it now price. This will avoid the auction. if there is a buy it now price and its a good price I would go ahead and make that offer. i have got quite a few that way avoiding a biding war.

@Mindy Jensen Send me a PM and I will have my assistant email you a copy.

@Naoise M. I buy homes every month as my own agent representing myself. Just treat it like a regular sale. dont complicate things. just make sure you disclose that you are a licensed agent in the agreement of sale. 

Hi Everyone,

We will be hosting our monthly new investor workshop at the Keller Williams Office at 1500 Oxford Dr, Suite 300, Bethel Park PA 15102 on June 10, 2017 at 10 AM. 

This month our topic will be how to find and BUY the best deals in the Pittsburgh market. Where to look, when to look, and WHAT to look for will all be covered. Which areas are hot and which areas are not will be a special topic.

I look forward to seeing you there and as always refreshments will be provided and there is no fee to attend. Just great information at a great price (free). 

This meeting is held on the second Saturday of each month so if you can't make this one keep tabs on the meetings on our meetup website: https://www.meetup.com/Alex-Deacon-Team-Real-Estate-Networking-Meetup/

Please RSVP on there if you are attending. 

Simply put the numbers don't work. I think you are being fair on all your costs and the bottom line is that the property loses money.  The rent doesn't cover the expenses its that simple.

If you manage and rent it yourself then it would make a small profit. Have you considered that. If so make sure you screen your tenants very well because one bad tenant would kill this deal and potentially cost you thousands in lost rent and thousands in repairs and damages.

@Amy Chen There are so many variables. I buy in great school districts for the stability of the investment. I buy in depressed areas for the promise of economic comeback and high appreciation. I buy in b and c areas also. You could spend a week driving around Pittsburgh and you would be more confused then when you started.  I suggest Setting some goals for yourself. Scheduling a time to come and visit the area and get your arms around the market. We can meet sometime and I can let you come with me when I am looking for properties and checking on my projects and you can pick my brain. Send me a PM and I will give you my contact information. I also have monthly investor workshops that are free and you are welcome to attend. Every second Saturday fro 10-1

@William S. I buy 4-5 properties a month and its hard to walk away from some deals. You just want to make them work. I do still make mistakes and buy when my heart says yes and the numbers say no. If you are a negative cash flow on a 30 year mortgage that's a sign to walk from the deal. The only time I would consider such a deal is when I see significant economic change happening in the area and higher appreciation than the average. I hope that makes some sense for you.

Could this be a possible flip for you? Maybe turn around and Make $10,000 profit and take that and reinvest it down the road.

@Scott Zach @Jack Henry I have to agree with Jack on this one. I just don't see the benefit. When you partner with someone they should bring something to the table of significance. Either Money, expertise, the deal itself etc...  Perhaps the agent would help you sell it with no commission also on their end. They would offer a buyers agency commission so essentially your selling commission total would be 1/2 of what it typically would be.