All Forum Posts by: Chris Davidson

@Chris K. get a headset for all the phone calls from non-buyers and possible buyers... in all seriousness find a photographer to take good photos after you have completed a deep clean on your house.

@Scott DI Panni, There is a chapter in David Greene's book Sold on this. I would definitely recommend reading his book. 

All that said, the training is important, but you are responsible for doing it. Are you wanting to work on a team or solo? If on a team, then the splits of that team will matter, go talk to some team leaders. Do you have any agents you know and are crushing it that you could help out with simple tasks and learn from? 

At the end of the day just go talk to them, they will all sound like they have the latest and greatest IMO trust your gut, and look at the numbers.

@Bridget Pasternak you are on the right track. As long as your realtor writes the offer correctly you will be covered and could back out and get your earnest money if something came up during the inspection (either yours or a third party). It is not uncommon to see investment property showing contingent on an accepted offer. This eliminates the tire kicker types that want to look but have no intention of actually buying.

Best of luck!

@Evan Corbin If someone already had diversified investments (assuming IRA and investment accounts) and wanted to invest 250K in rental real estate I would suggest narrowing their style of investment down first.

Are you going to self manage or hire out? If self manage most likely in town investing. If hiring a property manager than out of town investments won't be much different once everything is set up. 

Are you looking for steady cashflow with lower turnover, or want max returns and willing to do short term rentals?

Some markets 250K may be just enough to get started with financing, while other markets it might buy two properties outright. 

Don't let cheap prices cause you to overlook appreciation. Long term wealth is built through appreciation and cash flow. 

Finally debt is the best tool against inflation. If you buy an asset with debt and inflation increases you win on both sides.

Best of luck mate!

@Felipe Stefanoni to start out I am not an expert in insurance, but all of my rental policies have been structure only. My homeowners policy has been structure and contents. I feel like a single policy would be fine, and make sure your future tenant has insurance to cover their contents. 

Best of luck getting in touch with an insurance agent, sounds like a good place for someone to expand their business in MD.

@Robert Madison can you provide more detail? Are you talking about interest rates or down payments? 

@Andrew Whytock are you selling your property and wanting to know how it will work with an all cash buyer?

I think sometimes people just group investors into one category. However, there are many different types. Some cash buyers are looking to flip, some are buying and hold (they may refi to get money out or not), and sometimes there are cash buyers looking for their own house. 

A lot depends on the property and who you are trying to market it to. Each group will value the property slightly differently. 

Finally, why do you want an all cash buyer, can the property not be financed, or are you looking for a quicker close? If it can be financed waiting 30 days may net you more money.

Hope that helps!

@Nick Schiele in meridian and eagle will be nearly impossible. What will be an issue is appraisals are coming in low, so if you are approved for 350, and you offer offer 350 on a house it may appraise low and thus you can't borrow the 95% of 350. If you are open to areas a bit further put like nampa and Caldwell things would look a lot more promising.

If you want to talk more shoot me a PM amd we can meet up and talk about different options.

@Kadejah Johnson Awesome sounds like you are on your way to a good deal!

@Kadejah Johnson How did the inspection this weekend turn out?