All Forum Posts by: Carly Young

Pillar to Post hands down for both Cincy & Dayton. Reliable & extremely helpful.

Hi John,

I just saw your post regarding Dayton, OH investment properties. I'm an agent in the area and enjoy working with investors. Let me know if I can help you in any way.

Quick Tip: Kettering seems to be a hot spot for buy and hold investors - definitely a working class area.

Cary

 I agree with Mayank. Having a team of locals that you can trust is very important when you  are an out of town investor. I can't speak for Indy, but Cincinnati seems to be growing in all directions right now. There are redevelopment plans for several neighborhoods downtown and in the suburbs so you can get in before real estate values skyrocket. Feel free to reach out if you have any specific questions about Cincy. Best of luck.

I agree with Nick - speak to your lender (or a new one) about renovation loans. There's the FHA 203K or Conventional and lender specific programs available. The home does not need to be in disrepair to use this type of loan. However, it is difficult to get the lenders approval to do the work yourself unless you are licensed or can prove that you are experienced in that line of work.

Pre-offer work:

If you plan to use a contractor for your desired future upgrades, I have found it convenient to have a contractor on call that can give you a quick estimate on a property that you plan to purchase. Even though you will be financing the repairs into the mortgage, the estimate still affects your monthly payment. Oh, and ask your agent to pull before and after comps so you know that you are making smart choices in choosing upgrades. 

Good luck!

Have you spoken to your agent about this before? I work with a small group of investors as an agent, and am currently looking for a property for a personal investment. What I'm looking for is different than what they are looking for and they know that. I would hate to lose a client because they think we are in competition. 

Communicating is important - hopefully, this can be resolved by a conversation. If you're happy with your agent but still feel it's a conflict of interest, he/she will most likely have another agent they can refer to you so you don't have to start from scratch.

Best of luck,

I agree with Jessica & Kim

The most important aspect is trust. 

I'd look for someone who is familiar with relocations and who has positive online reviews. I personally would shy away from the local mega producers with 200+ yearly sales. Since you are going to be new to the area you may require more time than most mega producers can give. 

Realtor.com requires reviewers to prove that the agent helped them buy/sell a house. Some other sites have the same requirement, but not all.

Wishing you a smooth transition to Oregon! I hear it's a beautiful place to live.

Hi @Kelly Choate

I've been in real estate for 3 years and boy have I learned a lot. I'm still fairly new to the game so this list is a work in progress. My 5 year goal was to make the top 3% of agents in my area -I reached that half way through my second year. As I reflect on my first few years, here are a few tips that i have picked up along the way.

-Communication is key. Answer your phone, texts and emails. No agents know everything about real estate, so don't hesitate to tell your clients that you will get back to them with answers to questions. (And then actually get back to them with answers.)

-Learn, learn, learn. Listen to experiences from co-agents, engage in as much training as you can and go on appointments with multiple agents. Everyone is different so it's important to see a few different ways for listing presentations. Take what you have learned from all of them and develop your own style.

-Don't be afraid of rejection. Just get out there and do it. If a contract falls through keep your head up and learn from it. Focus on getting your next win. Your not going to be paid while your mourning and no one will want to work with you when you're bitter. (:

-Build strong relationships within your brokerage. You will need someone you can call for real estate help at 11pm on a Sunday. Having close relationships with a title company, lender and home warranty company will also come in handy.   

-Don't spend too much time with tire kickers. Let them know you are available, but set the relationship from the get go that you are not here to waste time. Your time is extremely valuable.

-Be willing to put in the time and effort. Kiss your weekends goodbye and adjust to the real estate lifestyle sooner rather than later.

-Experienced agents will try to intimidate you with their 25+ years in the business. They're not afraid to tell you how long they've been in the business. Don't let that intimidate you, you are new and un-jaded by the industry.Your drive will outweigh their experience. 

-My biggest struggle as an agent has been learning that you cannot make decisions for your clients, even when they are clearly making an irrational one. Follow your fiduciary duties and do what they ask, and try not to take it personally. 

-Lastly, build meaningful relationships with as many people as you can. Let people know what you are about and they will want to help you succeed. Their referrals will keep food on your table and a roof over your head. 

Good luck on your test! It sounds like you are going to be a great agent!! (:

Hi Rich, 

I'm an agent in Southwestern Ohio and we do not have that sort of market, but it sounds like you are dealing with the challenges that the market presents to you. We have done incentives in form of visa gift cards - (This way it cannot be split between agent and company).

Have you considered doing a 3D tour? It's a great way for a potential out of town client to view your home without being present. In the 6 months that we have launched the tours at my company we have had several full price offers from buyers that hadn't actually visited the home. 

Here's a link to one of my listings (that recently sold) as an example.

https://my.matterport.com/show/?m=J1YWEweuJNi

Your agent is probably familiar with a local company that provides the 3D service. It will help put your home in front of buyers. They'll be able to do a self-guided tour even if their agent avoids showing your home so it may help you get around the resort agency that is controlling the area. If a buyer likes the home they will not care who represents the seller - they simply want it. 

Hope this helps - 

Carly Young

Berkshire Hathaway HomeServices

Hi Max, 

There are tons of options in ohio. Check out pleasant ridge in Cincinnati, and Kettering in Dayton. Best of luck and let me know if there's anything you need a locals' opinion on. 

Carly 

Bottom Line: Use an agent you trust. 

If you don't have an agent that you trust, take the time to find one and build a relationship with them. They will become a valuable source to you and your investments.  

By the way, that would be very unethical for the agent to do and it could cost them their reputation and/or license depending on the details.