All Forum Posts by: Catherine Emert

I think the appeal is that they would be able to use it to vacation as well, whereas if you are purchasing a property for a long term tenant there is no availability for you to use it. When you live in a place where everyone likes to vacation, like I do, you see it all the time. People want a place to stay when they come here as they have fallen in love with our area, the best way to do that and not lose money is to place the home into a vacation rental pool!

Observe many markets before making this leap. Being an out of state homeowner, even with a management company, can be very stressful. I know personally that not all management companies are structured the same and some are not there for the best interest of their clients. Talk with local homeowners if you can find them, read reviews on companies, talk with local real estate brokers (if you don't know one, ask a broker for a referral - as a broker we all have a network of brokers across the country that we can refer our clients to). Don't take anyone's word for it - RESEARCH and make sure that you feel confident in your purchase and the market you are investing in. Good Luck!

"Best" depends on where you are, your current credit and how much of a limit they are willing to give you. I would really recommend talking with a lender as they usually have great advice on how to build your credit correctly.

A tenant is usually only responsible for pests/rodents if they did something to cause it. Since it is unlikely that they caused Yellowjackets it's best to just hire an exterminator and get this taken care of immediately. 

You can only say no if they do not meet the criteria elsewhere. Be careful with this. You need to make sure there are very clear outlined qualifications that each tenant must meet and that you follow it every single time. If you slip up on this you can be in a position no landlord wants to be in!

I would hold off on Real Estate. The uncertainty of the business and when you will be paid next is a struggle for most in their 30s and 40s. I can't imagine being 18 and doing this. My advice is if you want to get into real estate try to get a job at a real estate office as a front desk assistant or transaction coordinator. That give you the opportunity to learn so much about the real estate industry and how things work while still having a steady paycheck. 

I always recommend using a broker - they have access to a lot more platforms than the average person. Plus most MLS systems syndicate out to thousands of sites.

@Marisol Quintanar. I used to do IT for our local association so I know how difficult it can be. But many IDX vendors work closely with you and the MLS to integrate the feed onto your website.

Here's a great article about buying with an LLC.

https://www.realtor.com/advice...

@Patryk Sommer well that makes things a bit different lol. I guess this would follow under what I do with my brokers then. If I’m handing them the deal then it’s 60/40 if they bring the deal it’s a higher split.