All Forum Posts by: Denise Supplee

On market, generally means listed with an agent. Off market, is FSBO (For Sale By Owner). Now, I am a real estate agent in PA and I will tell you this. In a hot seller's market that we have had, FSBO's were selling pretty well and often were less money because the owner's were saving on commission. However, as a seller or buyer of a home, there are many tasks to keep in mind, ordering title, tax certs, dealing with money transfer, etc. etc. Buying a home is not like buying anything else... there is a lot of work. Having a licensed professional can save time and work.

Hello @Patrick McMahon, I have been licensed since 1985. I have been investing in real estate since the end of the 90's. If you are looking to earn money by selling, listing or managing real estate, I would say go for it. Otherwise, I would say don't do it, there is much more to it. For instance, I have to pay annual dues to NAR, my local assoc and the MLS as well as insurance. Additionally, you must keep credits up which varies by state. Another cost and more time. And to be honest, I could have invested without having my license.
I wish you the best of success either way you go.

Hello @Crismae Salamat, Great to meet you! I have been in real estate in many, many facets over the last 35+ years. And... I started out with house-hacking before it was even a term, LOL. First I rented a room out (And got child care in the deal as well). I then hosted an international student which was a great experience, plus paid most of my mortgage. You said you are near a University, perhaps you could rent rooms to students. I wish you the best success! 

Hi @Frank Pyle, Have you checked some of the larger syndicators in the field? They may be able to assist. I have heard of newbie syndicators doing that in the beginning. I invest in syndications with our co-investing club but we require experience in those we choose. Good luck, I hope it all works out for you!

Hi @Dawn Skinner - Love hearing your real estate goals! While I have not gotten involved in tax liens, I have experience in short term and vacay rentals. Nowadays, you can automate most of that, so it can be a great experience. It is important to be sure to have a great cleaning and maintenance crew. I have over 35 years investing and managing properties. I, sold all but one and now invest in the coinvesting club I have cofounded. We invest in all kinds of things such as vacay rentals, large apartment communities and land. It is passive investing and I am liking that aspect of it. I wish you the absolute best success in all you do!

Hi @Todd McLaughlin, Two things to be aware of. One, storing appliances for the long-term can cause issues. Especially with refrigerators. Secondly, I ran into an issue where I had a tenant who wanted their own refrigerator. Upon move-out, there was substantial water damage to the flooring where their refrigerator was. It ended up being a big deal. There was nothing stated on the move-in form, as I had let them move the my fridge to the garage and put theirs in. So, they basically said the damage was already there. So, make sure that you take pictures before they install their appliances, just in case! Best of luck to you!

Hello @Cheryll Trower, Welcome and I love your goal! This is a great place to learn and grow. I have been involved in real estate for well over 35 years. I am a licensed Realtor in PA with Long and Foster and now operate a coinvesting club for real estate investors. I have invested in, managed my own properties and managed for others throughout the years. Now, I invest in syndications with our real estate club. I got a bit burnt out dealing with some of the aggravations of managing property. Investing in real estate, to me, is such a great way to achieve a life like you want. I wish you the best and there are many resources and books out there as well. Not a bad idea to join some local real estate investor groups as well. 

Often, creating an LLC is fairly easy through state websites and the IRS EIN online. Many states offer speedy services for an additional fee but usually much less $$ than many of the services charge. There is a benefit in having a service that provides registered agent service. A registered agent is required in every state. The registered agent is responsible for receiving legal documents on behalf of the LLC. Using a service ensures provides protection in that you don't have to personally handle this responsibility.

Hello @Jason Braddock, Love what you are doing. I have been in the real estate field for over 35 years (I am old, LOL). I am a real estate agent and have helped others as well as managed properties. I love the business of real estate. Most recently, I have decided to sell most of my own assets and now invest with our co-investing club. We invest in large multi's, RV parks, land and so much more. And I no longer have to deal directly with tenants or toilets. I wish you the best of luck in your endeavors and look forward to hearing your successes! 

I have used so many from Buildium to Landlord Studio. I really like Landlord Studio and that is what I am using now. It is inexpensive and super easy to use.