All Forum Posts by: Daniella Sanchez
Daniella Sanchez has started 2 posts and replied 64 times.
Post: Condo appraisal came out exact as contract price

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
I've had this happen before and I've only been in real estate for 2.5 years. I don't think it's too uncommon. I like to be present when the appraiser is sent out and I like to bring my strongest comps in paper. Some appraisers don't mind and actually want to see what I have. Others don't care and say no thanks. You get both.
Post: 1st house finishing basement apt to rent and move on?

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
It might be 5 years or more before you start seeing profit. Remember, REI is often advertised as "get wealthy fast" and "retire early", but truth is, it requires work and time. Just like you can't build a house in a day and the larger and sturdier you want the house, the more time it requires.
What does your mortgage look like? What do you think you will charge for your basement? Do you have to live upstairs? If its just you why don't you live for free in the basement and rent out the upstairs to cover the mortgage. There's a lot of different directions you can go.
But @Bryan O. is right. Every time you do the work yourself you are learning and profiting
Post: What to expect working with an agent

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
What you SHOULD expect, is a loyal faithful agent who will continue to stay in touch and pop up occasionally in email, social media or good old direct mail. If you don't hear from her after closing, that might be for the best.
Post: Do I have to pay closing cost?

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
Both sellers and buyers have closing costs. Think of closing costs as the cost of the transaction. Its typically about 3-5% of the price of the property.
Post: AGENTS--- What are your thoughts?

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
I'll keep this short. I'm a Realtor near Chicago IL and I've been a Realtor now for 2 years. Business is slowing down coming into the Winter and election year. I'm wondering what has worked for successful long-term agents during their slow months to keep surviving? Do your strategies shift? Do they remain the same? Any thoughts or suggestions are greatly appreciated.
Post: My biggest barrier is not knowing my market

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
Stick to what you know. Focus on the same areas you live or have lived in. But that doesn't mean you can't branch out. I'm a Realtor and although I target my hometown, I experiment with nearby areas that I'm not as familiar with but the goal is, one or two people from there may reach out eventually and then I get my foot in the door.
Post: Deciding to self manage

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
Originally posted by @Mitch Messer:
Hi @Marty G. I get that the lure of do-it-yourself management is strong. It also appears undeniable that your existing PM is incompetent at best.
But if your goal is to do more investing, remember that every single minute you spend building a DIY property management system is time you are not spending becoming a better investor.
If the good PM's in your area won't work with you because your holdings are too few, then why not instead focus on increasing your portfolio to the point that they will work with you?
I really like what @mitchmesser has to say. And in addition to that I think you shouldn't give up hope on an assistant manager. I know many people, including myself who are very loyal and work best when they're someone's right hand person. Hopefully someone like that comes along for you, and that way you can trust them and you won't have to pay a fortune.
Post: Will a bank loan on a house with an unsound deck?

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
Originally posted by @Account Closed:
@Daniella Sanchez
The house ended up being a bust anyway so I never actually approached the mortgage company about it
No worries you'll get em' next time!
Post: Will a bank loan on a house with an unsound deck?

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
Originally posted by @Account Closed:
@Daniella Sanchez just a conventional mortgage through a bank... no rehab loan or FHA or anything like that
It may fly then. Have you gotten any response from them since you posted?
Post: Profitable 1980's Easy Flip - Wallpaper & Tight Budget, oh my!

- Real Estate Broker
- Melrose Park
- Posts 68
- Votes 44
Looks amazing! Are you going to share more photos? I've heard that tip before too, updating doesn't mean changing every single thing. You can spend more money to alter each thing or you can spend less money and focus on a few important things, sometimes both of those will result in the same price the house sells for.