All Forum Posts by: Denise Supplee

Hello @Haneef Porter, welcome and excited always when I hear of someone getting ready to invest in real estate. I have been an active investor most of my life and now I enjoy passive investing. I manage a co-investing club where we all get together virtually and vet deals together, choose them and then invest. I love it because each investment can be anything from large apartment communities to even a steel manufacturing plant. I also love it because I do not have to do the hands on tasks any more. And with the minimum to invest as $5K per member, it makes diversifying my portfolio much easier. Anyway, the best of luck and much success to you!

Many banks turn away from lending to an unestablished LLC. Many property investors will use an LLC for protection. I have done this myself. However, banks want to be protected in case of a non-payment issue. It is very difficult to go after an LLC and frankly, there may be no assets except the prperty in question. Therefore, most lenders will require a personal guarantee. And even that arrangement may be hard to come by. Sage Grubbs operates in Alabama. I have worked with him before. He is the principal at Sage Legacy. Look him up :)

Hello @Emily Ryon! Welcome! I have managed properties from small multi's to large communities on and off for over 30 years. I am in Pennsylvania! Wish you much success!

Hello Jacqueline! My husband is a contractor and that made things so much better when assessing properties. Consider yourself ahead of the game! Excited for you and welcome to BP!!

Good morning @Jinglei Shen! I had the same occurence, however I was the Realtor for the seller. In PA, where I am licensed, you must choose whether or not you want to include an appraisal contingency as a buyer. And you must set the pricing in the appraisal contingency. Some will use the mortgage amount, and some will use the sales price. I usually will use the sales price. This means that the appraisal must meet the full sales price. And if it does not, the buyer gets to leave the contract and retain their deposits. Look at your AOS and see what it says. I truly hope this works out for you!

There are many options, now. It is important to consider the fees charged. Some can be very high. I have used Paypal, Venmo, and Landlord Studio. Property managers use many of the same options available to all of us such as RentRedi, Zillow Rent Manager, Avail. There are so many. Just make sure you check them out, look at their reviews and ask them about issues with fraud. That has been a huge issue all around but there has been an increase in the rent collection sector. 

I live on a very busy street as well. I can deal with the cars, but we have huge semi's that make horrid noises. The back of my house is completely wooded. I have gotten used to the noise. It took several months. I keep either music on inside my home or the TV. And I will go outside, and when I hear the noise, I will look at the home itself and start listing the things I love about it. I know that sounds crazy, but it helped me. Now I laugh at the loud bumps and weird noises of the tractor trucks. I hope that it works out for you. I know how difficult it can be! 

Hello Rachel,

I am a Realtor in Pennsylvania. Commissions are always negotiable. It is important that real estate agents do more than many know; much in the background. Many believe that they put the sale together and then off to the closing table. However, there is more. They basically not only find a buyer or find a buyer a home, but there is alot of coordination that goes into a sale.  Additionally, there have been many changes in commissions and how they may be advertised and structured in the summer of 2024. Each state also has their own legal criteria. Your agent should be explaining this to you. I hope it all works out for you! 

Hello Brett,

It is important to take all costs into consideration. Routine maintenance and unforseen maintenance costs; insurance rates (they are increasing all over), property taxes and vacancy rate. Then management of the property. And if you choose to save the cost of a property manager (I have done this), there is the aggravation factor. I have owned and managed properties for over 30 years. I finally have decided to let all but one go and now invest with others in syndications such as large apartment communities, trailer parks, and even a steel manufacturing plant. I wish you the best of luck and please, put your numbers through an ROI calculator to assess your investment. The worst feeling is investing in a property only to end up losing money and your peace.

Welcome, welcome! I too am a Realtor in Pennsylvania! Nice to meet you! And much success, Fana, in all you do!