All Forum Posts by: Brandon Vukelich

In the past, I've used the CE Shop and Kaplan, both serve NC.  There are others specific to WA that I've used but won't do you any good.  I'm not sure about NC but in WA, it is too easy to get your license.  Best wishes on your real estate journey!

Appreciate the effort to connect with other investors. I would love to attend but will be out of town. I'll watch for future events. Thx!

I can appreciate anyone looking to save money/fees. As Jon listed, consider his points. Not sure what your plan is for pics, video, staging, drone, etc. The stats generally don't lie, going FSBO doesn't really "save" you much when it's all said and done. Historically, FSBOs sell about 6-8% less than going with a licensed, experienced agent, plus the seller ends up managing their side of the deal. Honestly, if you're an experienced investor and sell multiple properties a year, you probably have the knowledge to effectively manage your side of the transaction. If not, there are many experienced, savvy buyer-agents that will have the upper hand negotiating the offer, getting through inspections, potential low appraisals, etc. I have no problem working with most FSBO sellers as I'm confident I have far more experience, knowledge and all to help my buyers but 2% wouldn't get me excited to show my clients your listing. I'm getting paid less and will end up managing both sides of the transaction. Happens every time. If its the best match for a client, I'll still review it with them but I know plenty of agents that won't show <2.5% listings unless we're talking $1mil + or something. Best wishes with your sale!

Thanks for sharing.  Not nearly as bad as we see in WA (especially Seattle) but disappointing policies for sure.  Hope this isn't a trend on where the state is heading but I've been worried with all the new residents coming from CA, WA, etc.  I picked Idaho a few years ago based on its landlord-friendly law.

Start by contacting a local real estate attorney licensed in the state you intend to do deals.  Use caution when looking for "free" or shared docs online.  There is a lot of liability in transacting real estate.  A good RE attorney should already have something to offer you or could draft one fairly quickly.  It may cost you a few hundred bucks but it's money well spent if you are planning to wholesale on a regular basis. A lawsuit will cost you much more than the money invested in a good PSA and assignment agreement. Best wishes!

It may be a "requirement" for their firm but it is not a state requirement. It's good to have one so it is clear about representation.  More info available at RCW 18.86.020.  Agents use them to get clients to show the client's commitment to the process as well.  Without an agency agreement, we (brokers) could spend months working with a client to help find the right deal, with no guarantee of income from a transaction, only to have them end up doing another deal (locally) with another broker.  I generally go on someone's word that they are willing to work with me exclusively and it has only burned me a couple times in the past.  Shame on me I suppose for being overly trusting.  When I do have a client sign an agency agreement, I let them know upfront that if they are unhappy for any reason with my service, we'll terminate the agreement.  No problem.  I'd never want to tie someone to work with me if they are not satisfied with my level of service or commitment to them.  Hope that is helpful.

When I had a property management company in Seattle, we started implementing RUBS for water, sewer and garbage on just about every MF property.  Not sure how large your property is but we outsourced it to a 3rd party billing company.  If you google "RUBS" you'll find a lot more specific info you're probably looking for to make a decision.  Best wishes on the deal!

Interesting thread, great feedback! I've been trying to get into Tulsa since last summer. I had a 16-unit under contract in July that turned out to be dud when I visited. Made an offer on a 8-unit while I was there but seller got cold feet. Prices and returns were more attractive to WA/ID.  I've owned in Boise since 2017 and Tulsa has that same growing vibe I got in Boise 5+ years ago. Research Tulsa's population, job, wage growth in the area. I also like that OK is a landlord-friendly state. 

I'm not concerned about tornados or crime much, it is what it is and there will always be pockets of rougher areas in cities that size. Again, do your due diligence in research. But one thing I learned is that bats can be a problem in the city and remediation can be expensive. That's not even on our radar in the PNW. I learned that by touring properties and talking to PMs. Best wishes in your REI journey!

Accept the fact that you won't likely hit a homerun on your first, second or even third deal but you will gain massive education through effective action.  I'm assuming you're looking at SF or 2-4 unit MF, not 100+ unit communities or something.  You sound like you've been analyzing deals, so you have experience running numbers or using tools.  You'll find it isn't rocket science on the small ones.  Verify income and expenses, what your financing terms will be, where are market rents, etc.  If the numbers work, submit an offer.  I have clients that have watched the market since 2016 and have missed out on hundreds of thousands (if not millions) of dollars in equity growth.  They always felt the market was too hot and stuck in their analysis mode.

1. How long did it take you to acquire your first property after beginning your education phase? - Less than 3 months.

2. What gave you the confidence to pull the trigger? - I knew that you can never "time" the market perfectly. Snooze you lose.  Markets will fluctuate but who cares if you're planning to hold long term.  If not, be more conservative in your analysis.

3. How would you recommend newbies shorten the time between education and deal #1? - Pull the trigger and submit an offer.  Even if you back out via a contingency.  Just get familiar with the process and understand that some deals will be dogs while others will end up being stellar opportunities.  Nobody bats a 1000 and that's ok.

Best wishes in your journey.

I'm not aware of any successful business strategy that involves ZERO dollars for startup or marketing.  Even if you intend to network, you'll want to budget a few bucks for a coffee or beer here and there.  Driving for dollars still involves gas money.  Starting and running a business involves a budget, even a small one.  This is one reason the wholesale space has become so crowded.  Many have the hopes of jumping in and growing a business without the need for any working capital.

As a sidenote to the discussion, I disagree with using publicly available agreements.  You're operating in the real estate space.  You're not selling candy bars or a used car.  There is a lot of laws and liability involved.  Only use docs specifically related to your state.  Ideally, hire a RE attorney to review or craft your purchase and assignment agreements.  Best wishes in your journey!