All Forum Posts by: Alex Larcheveque

Hey Edwin, 

Congrats on your new purchase! 

If you want your tenants out, you need to wait until their lease ends. Provide a 30/60 day notice before the lease ends, and just be transparent with them what you plan to do with property and why they need to leave or pay more. 

After their previous lease ends, you can write up a new rental agreement with new rent and can start charging for washer/dryer use if you please.

Basically, you can't change anything until their lease ends. After that, you write the rules on what you want to charge.

1. Why they don't know or not willing to tell there is an open agent?

Open listings are pretty uncommon to see. That being said, your realtor definitely should have known what open listings are and should've been able to explain it to you. 

Not willing to tell you is a different story altogether. If he was not willing to tell you, it's because there's a vested interest in the realtor to have an exclusive listing. After all, if the home sells, your realtor wants the commission check. 

2. Does it really that much work and spending to list a property? 

Yes, there's a ton of work to market your property properly. Staging, marketing materials, holding open houses, attending private showings, doing research for comps nearby, listing the property at the correct price. A realtor will do this before getting paid, so keep that in mind.

3. What is the pro and con for exclusive and open agent on this marketing situation now?

Here's a good link that lists the pros/cons of both exclusive and open listings. You'll probably be using an exclusive listing 99% of the time.

In California, you also need to be a full-time licensed salesperson for two years before you can start your brokerage. There is a way to circumvent this requirement if you have a 4-year degree with a major/minor in real estate. 

Similar to what others have stated, if I were you, I would: 1) become a top-producing agent 2) start building out your team internally within the broker you're working at 3) once you're client base is large enough, starting your real estate brokerage can be beneficial.

Software Engineer at a startup in Santa Monica, CA. Newbie for now, but learning every day :)

@Jack B. Where's your compassion? I disagree with you 100%. Many of these individuals that are now unemployed are not "lazy" nor "dumb." Some, if not most, are extremely hardworking but have just gotten unlucky with COVID-19 affecting their business in an unprecedented way. 

Hello Bigger Pockets members! My name is Alex Larcheveque and I am a UC Riverside student that will be graduating in two weeks with a B.S. in Mechanical Engineering. After listening to most of the BP podcasts and reading David Greene and Brandon Turner's books, I have been eager to invest in real estate to gain financial freedom for myself. I am particularly curious in investing out-of-state, and would like to learn under an experienced investor in this field. 

Please introduce yourself if you live in Southern California, as it would be great to meet some of you! Thanks.