All Forum Posts by: Brian Van Pelt

@Mario S. Williams Jr.

. Partner up with a friend or family member.
. Offer the HML a better deal.
. Sign over your pink slip
. Win the Lottery

@Joshua Stratton

The fact that you are a licenced realtor elbeit a non practicing, one could argue you were practicing real estate and are being paid a commission. Call a broker in your state with a national Brokerage and have a chat or the RE attny at your local board.

If it Looks like a Duck, Quacks like a Duck ..... It's a Duck

@Jay Hinrichs

Exactly, The refinance is what makes it tough to BRRRR, although the idea of packing up and moving if you don't like your neighbors might make that R - Relocate ?

@Kim Rosinski

In most states it is illegal for you to collect a commission or charge a fee on a real estate transaction. It's called practicing real estate without a licence.

Most likely to ensure that you actually are able to sell the property. I certainly would have asked to see the same before putting down a deposit. You can just redatact the Seller  contact info.

If you start out being transparent, then be totally transparent, it's a good reputation to have.

@Taylor Knott

Your first investment property should be close to where you live IMHO. We are at the top of the RE market and in 2-3 years may see a swing in the market.

Mobile and Manufactured homes do not generally fit the BRRRR model especially in a park setting.



Mobile and Manufactured home parks are a different thing.

@Sean Cody

Should they provide comps
. Yes
and/or and ARV with each potential deal they offer?
.Yes
Should they know and recommend good areas to invest in?
Yes and No Yes they can recommend good areas and No they have to be careful not to red line clients or steer clients to areas.
Should they actively present me deals as they arise.
. Yes
, or expect me to sift through my daily search update emails myself for deals?
.Yes - Investors are a fickle breed, They change their minds on a daily basis, most of the time without telling their realtors.

What you need to do as an investor on a weekly basis  FOR your agent:
. Keep them informed when you are buying and when you are not
. Keep them appraised on what YOUR numbers are. If they don't know the ROI,acquisition price or area you are looking in,then it's like being a ship captain without telling the crew where you are going.
. If you loose a deal don't blame the Realtor, most lost deals are because of decisions the investor makes, YOU  make the decisions not the realtor.
KNOW YOUR NUMBERS, Don't expect your Realtor to estimate repairs for you, know what a contractor charges or what your lender will charge you for a loan.

You and your realtor are like a pitcher and catcher, if you are not communicating ALL OF THE TIME, the other team wins.

ROCKSTAR agents are a myth it's ROCKSTAR investors who make the decisions. Agents are a tool to use, and it only works if they have the proper information.

@Lucas Mills

Win the lottery for the annuity. 

@Chris Matheson

Either 
. Get a settlement extension of 1 to 2 weeks to give you time to evaluate leak
. Negotiate a low price based on estimated repairs
. Settle if seller willing to  Escrow all or a portion of Seller proceeds until you have leak evaluated.
. Be willing to make the hard decision if necessary.

Photos of the damp/wet basement are sufficient