All Forum Posts by: Dusty Warner

Im working with a buyers agent that's providing me with mls access to an area im interested in investing. I was contacted by her by requesting info on a truila listing. She told me that the listing agent sent her my contact information. I was wondering if this is normal practice or if I have to worry about the fact that they are somewhat working together. I guess im just worried she wont be as inclined to negotiate the best deal because of this. Am I being paranoid or should I consider submitting my offer with an agent that does not have any sort of relationship with the listing agent??

Thanks Guys!!... Years ago I had a rental and I didn't know anything about how to screen tenants or legal ways of going about problems, which is one reason im here. I've had to "kick people out" on a few occasions because of the total disrespect of my property, so in that case it did not bother my sense of ethics in the least, but I understand what your saying Stephen and Ill be sure to try to use the proper wordage next time:) Thanks,Dusty

If I were to buy a duplex with the intentions of rehabbing and raising the rent, but both units have renters in them for the past 5 years what is the best option?? I was thinking of maybe informing them of what I plan to do and possibly have them renovated while the tenants still lived there, but if they do not agree to this is my only option to evict them or is there some legal protection that allows me to kick them out when I acquire the new property??

Welcome Kelly!.... Im new here too. The Podcasts here are awesome!! I think ive listened to 5 or 6 of them so far. I have a couple hours of driving to do everyday, its a great way to keep from falling asleep on the road:) Good Luck!!

Awesome Joseph! Then your a lot further along than I am. I was listening to a podcast the other day here on BP. They mentioned something I thought seemed like a pretty good idea if all else fails.... something along the lines of going to the local Home Depot first thing in the morning and find the contractors that are up early to get their jobs started. The ones that show up later are "the lazy ones or the ones that forgot to buy enough material for the job". I thought this was funny, but makes sense.

If your working with a realtor that is familiar with working with investors, he/she should be able to help you find a good contractor. The Agent im currently working with is JJ Gorena and he has access to some good contractors in the SA area. Or so he says, I haven't actually closed a deal with him yet.

Hi Chad, I was looking into that too.... If I run across anyone that can help ill fwd you the info. Btw, I noticed you had a post looking for a new agent. Have you ran across any investor friendly realtors in th SA area??

Its actually priced a little high. There are a couple more sfh's I have my eye on for around $80k. This neighborhood is a little run down, but its by no means a ghetto, just old. Im not too sure how much the property will ever appreciate, but it needs rentals. I personally know a co-worker renting a newer 3/2 down the road for $1900/month.

So, I think Im going to put an offer in tomorrow!! I found a duplex built in 2003, List price is $110k but has been on the market for a couple of months now. I crunched the numbers and if I buy at 105k and put 17k in repairs and rent it at a total of $1300/month
cashflow=$5634
cash ROI=13.87%
total ROI=16.78%
CAP=10.17%
COC=13.868%
Seems too good to be true, so Ill keep yall posted!

Thanks guys... Shaun, the contract does not mention an up charge for maintenance, but I'll be sure to ask from now on...

I agree Rick... the only reason I'm considering a PM is just in case I find a good deal on a side of town that's too far or in a shady neighborhood.