All Forum Posts by: Dwayne Poster

Quote from @Michael Kusy:

It’s best when a client has a sense of urgency and eagerness to get a property under contract sooner than later. Also, listen to a Realtor and take their advice. 

 Well I guess there's that, play dumb and desperate.

Sure to 'excite' most Realtors.

Providing concise criteria, then executing the sale, when the criteria is met.  The rest is just talk.

Make hay while the sun shines. If it checks the boxes, you’ve factored in the holding costs, correct?

The real difference is that in one case you hold title, while in the other, you hold the note.  Both typically contain a down payment and cash flow over the term. In the case of a loan, which had a balloon payment at the end of the term, they would be almost identical. 

you are dealing with the wrong entity. Give it to the seller.

Quote from @Maranda Tucker:

Hello BP Community! 

In your opinion, what key skills does a Real Estate Agent need in order to best help out of state investors? 

Investors, how do you decide which agent to use/hire when buying out of state? 

Real Estate Agents, how do you position yourself as an investor ally?

Key skill is current market awareness. Deals don't last and if I don't get that call, I wont be happy to hear I've missed an opportunity. I ask my Realtor to refer me to the lister on distant properties. As an agent, my best value to an investor is to seek out properties to bring to market. Being a good 'lister' is in both or our interests. 

Ideally, your own. 

I look for an agent that is a good lister. I follow them closely. You should make listing a priority.

Sounds normal. If you use Realtor representation, you need to pay them something, and 3% is common.  These deals work like any other, except the listing agreement is replaced with a buyers agency agreement. 

One thing as a heads up. It is very common for Realtors to seek an exclusive listing, to bring forth an offer in a FSBO scenario. If you allow this, make sure your agency agreement adjusts the remuneration accordingly, as it will certainly affect the sellers final pricing. I expressly prohibit my representatives from such action.

I live on the Island, but most of my holdings are in Alberta. I would definitely suggest looking at the Edmonton market. Like any market though, you need to hustle, or have someone on the ground doing it for you.