All Forum Posts by: Jennifer Lee

@Ryan Dossey

I really like your idea! about the package and comps

One objection I get from seller: THEN tell buyers to buy new construction! (hahaha! that was last wk)

hi BP

I'm curious if any of us was ever successful on negotiating with a seller which won't move on price.

PLEASE DON'T  REPLY move on!

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I'm looking to see is anyone succeeded in

talking agent/seller to play ball.

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just because you are an agent doesn't make you an good investor.

investor friendly agent like me are around :)

i find we tend not to advertise we are..... here is why, in my opinion....

I got my license bc I COULDN'T find an agent like me.

I've have my license for a few yrs now. mostly to facilitate my own deal. and help other investors along the way

there are just different kinds of agents. just like there are different kinds of doctors.

if you need surgery you don't go to your gp. you go to your surgeon.

unfortunately agents aren't labeled unless they market themselves. luxury, REO, relocation.

investor friendly agent I found go by WORD OF MOUTH. 

I find eventually investor friendly agents can only handle a few pocket investors. 

because investors is a repeat business a relationship business. 

I like to joke that I have many "boyfriends", and its nice that they all are interested in different thing so no jealousy.

as I do a daily scrub. I can go multi for A, REO for B, and commercial for C

and most importantly there is not conflict of interest bc I also invest completely differently from my client

I have been to a couple of joe calloway's lecture, as part of our local REI group functions. I seem to always make it when he talks, and always take away something from him.

I like that he is an average "joe" like you and me! he makes REI simple and easy, and doesn't make it seem like it all complicated.

his attitude is IF I CAN, YOU CAN TOO.  There isn't any sales pitch.  I think he has been asked to these courses by popular demand ;p  

Hi Welcome to REI and BP

from a fellow investor/realtor in pittsburgh ;p

Jenn Lee

i like school district, AND location not just OR.

u can be in a good school and be on wrong side of the track or street of said school district!

families are picky. 

school and location and price...maybe that why it takes me longer to buy anything. but have had good rental history.

@Roy N.

that's why I run and garden! it's only 1 hr but keeps me sane.

also now I call everything an appointment. even my family day is appointment.

if I tell ppl I'm at an appointment they get it. bc I'm make business for all.

and I do treat my kids as appointment now. they have to be a priority;) and my health. my run is an appointment

Hi there

I know, take it a day at a time.  I also almost burnt myself out last month.

but you have to realize we need to prioritize. Sit back and say WHAT is URGENT and what ISN'T

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I property management myself and also a realtor now, and I feel I need to make everyone HAPPY right away.

i finally realized if I AM not HAPPY no one is.

You MUST, have to, take a few mins or a day to yourself.  It sound selfish, but it's not.

Pick up a hobby not related to real estate. Take a day off

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TENANTS

I m learning too, tenant wants things done yesterday!

if they are good paying tenant, I address issues ASAP and as best as I can.

If they aren't good paying tenants, I no longer have issues putting them lower on my priority list, bc they aren't putting my rental as their priority!!! unless emergency situations. 

I explain to them time line, I will address issues, but no til x day/s when y situation occurs, it will be addressed.  good communication is key

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CONTRACTOR

I am learning too, but you know what, use COMPETITION and FUTURE work as leverage.

I like my guy but when I use him exclusively he starts slacking! 

I finally realized if I am willing to bid others for his piece of the pie, he shapes up.

If the contractor give you issues, drop him. I realized I will test contractor with small jobs first. I also now sub-out, electrical, plumbing and Hvac to my trusted vendor, and I find i have more options to get things done and not waiting on just one GC to do it all!

and he appreciates it bc I sub to his trusted vendor and everyone  is happy.

also I involve my trusted GC in all my new project acquisition because he will know I need someone and that he will be my guy!

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hope that help, but really step away, don't let this consume you!  If it's not longer fun, what the point

lol, just needed a place to mourn. lol

not emotionally attached but just need to go through the motions. that's 4wks of my life lost.

the good is knowledge and experience and referrals and contacts gained

the bad is nothing we can do, unreasonable seller. period.

moving on....

@Jay Hinrichs

 @Steve Babiak

thank you for explaining that to me! 

for a newbie it felt weird :) I went on my own. no one to walk or talk me through it. I went with my clients and other investors. they are fun to watch ;) you do realize the same players bid ;)

these are my observations, this took place in a formal court house, 4 hours long :) 

1. most property are postponed or resolved, those up for bids mostly no one bids. and bank get it at cost. 

2. bidder vs bank, if bank out bids bidder.. bidder withdraws, bank buys at cost.

3. bidder vs bidder, bank waits til highest bid. then steps in, if bid higher than what they want winning bidder get it for end bid amount.

4. bidder vs bidder, bank wait til highest bid, steps in and if bid is under, bank bids higher. if bidder withdraws, bank buys at cost.

I think it's because bank wins most of the time. the unfairness I felt at the time was that bank wipes out the bidding and buys at cost.

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these are bids that stood out bc they were different

1. young couple with Realtor/lawyer? house come up, they bid with bank til bank said... if u bid $x more, you get it.... they were short by a few $, a fellow bidder gave them the cash to get house. they were only bidder for this house.

2. a Realtor? house came up, bid opens, she said $123,456.78 (I don't know it was an exact number) and bank accepted. I wasn't the only one confused that day. she was only bidder.

I am sure they all did proper due diligence ;)