All Forum Posts by: Jennifer Lee

I am an investor that got my license.  I didn't mind being an agent ;p 

Like you I wanted to use the license as a TOOL.  The key to find a brokerage that fits u.

Here is my 2 cents. You can read my posts through my journey, BP was my catalyst. I am on my 4yr as realtor and 15 yrs in investing.

I will list the UNEXPECTED BENEFIT of my license:

1.  With BP and my License, I went from transacting 1 property every 2-5 yrs, to 1 a year and 3 last year. With more experience, come faster decision making and less fear. 

2.  I am a cash buyer, so when I run out of funds, I used to have to discipline myself to STOP looking (Opportunity Cost).  But now with my license, if I can't do it myself, I try to pass it on to my investors.  And run the deal analysis with their eyes. 

3. I am very conservative, but my investors runs the gambit.  So with my license I can be involved and see the decision making of investor with more risk tolerance, with bigger fund pools ;p  This is PRICELESS part of being an investor friendly agent.

4. I Became a Foreclosure Specialist and Commercial Agent.  My Network of vendors and specialist grew exponentially.  

5.  I learnt to VET my investors, they are all different, so there isn't a lot of instances where they will bid the same property. OR even anaylsis the deal the same way.  IF they are interested in the same deal, it's usually a NO BRAINER, and ALL OF PITTSBURGH is bidding on it ;p  

I say ask, because  sometimes they won't send til you see the unit.  information for serious buyers only.

so ask ;)

HI @Cliff Loya,

I am an investor friendly agent in your area. I am an investor that got my license. 

I suggest you interview agents and see if you guys make a great fit ;p  

@Stephanie Dobbs Brings out a great point!!!   I am not sure if those types of  questions are for the listing agent. But definitely questions for you and your buying agent to answer ;p For sure  you need to research, talk to township, county, tenants, neighboring business ;p

Just keep in Mind there is more moving parts with 6 units. it's is larger than 5 units, so it will be considered, usually, as commercial transaction.

you need to not just look at the bldg, but rent terms and numbers. CAM cost and deferred  maintenance, AND if utilities are separated, parking spots, landscaping and snow removal, sprinkler system and elevator (maybe)

OR see if ordinances changed and make sure things are grandfathered in ;p

if it's under valued why would u wholesale it someone else?

unless u can't secure the financing today.

I think u need to do due diligence to find out why it's under valued. and why it hasn't sold if it was such a good deal ;)

I don't know much about wholesaling. sorry... I work with them, but I don't know the details

but for the net worth part, buy hold is the answer :)

my 2 cents

instead of flip, you have passive income ;) and equity.

to flip to $1M, means u have to keep upgrading to 1 $1M house in your model. and have flipped enough to make $ to live on. you are living in your net worth.

if you leave a trail of homes, 20k, 50k 100k, 200k....with passive income your net worth at $1M is accumulated with assets and income. monthly cash flow, while u live in you mansion ;)

I'm happy to hear that u are considering the financing options ;) I think u should find a good mtg broker to give u the details.

I find my next project, always depends on my next find.  then i figuring out how to acquire it..

if I'm can't buy, it takes all my discipline to STOP looking. that's why having my license is a great thing for me. if I can't do it I give it to my investor who can.  I'm still in the deal;)

but before my license I would just stop and figure out the financing or funds and hit the ground running when I'm can buy.

the difference now is I used up my capital, we need to look into financing now. so having a good lender in your backpocket is a good thing.  I have a good track record with him. so when I find something he will help me figure it out.

stop looking doesn't mean  stop learning the market.  I mean if u want the 6 unit. u need to figure out the market price, what a good deal is. so when u are ready, u just pull the trigger. 

Wow that was very useful thanks @Joel Owens, I learnt a few new things on here!

I like the 2 lane road idea, the annual sales is interesting too (for tenant protection, no necessarily good for land lord)  good points for me when I nego tenant side lease...

I think it's more beneficial tax wise if you move every 2+ yrs, its called live in flip.

then you can take the 250K as a single or 500K as a married couple filing jointly capital gain tax exemption.  if you sell under 2 yrs you will be subject to capital gain tax.  you have to live 2 yr out of the last 5 yrs to qualify.

besides if you plan to BORROW money to do this, most loan would want to stay at least 1 yr

house hacking, is more u buying a multi unit, and having other tenants pay for your mortgage.  Or have roommates that pay you.