All Forum Posts by: Matt Greer

That will be in the red for a long time and you need to always plan for a worst case scenario so if the best case scenario is you're good after 3 years if rates and rents move in your favor that is pretty risky. There's a lot that can wrong here. What if something goes wrong in your life and you can't afford the $2k a month due to unforeseen issues? Do you have the $72k already sitting on the sideline? What if you need money for repairs as well? There are plenty of opportunities out there that won't put you in the red. I'd look for something cheaper that will start cashflowing and and appreciate. This just sounds like a lot to bite off and chew.

My firm had been hired to sell someone's flip project. I wasn't the agent with the listing but I had clients that were interested. I took them to tour the property and someone had broken in and stole a toilet. Just a toilet. There was so much in that house that was of more value, but they stole the toilet. It wasn't that bad as far as being gross goes other than the hole in the ground leading to the sewer, but it still takes the cake for weirdest thing stolen from a house.

Roaches can be nasty! I agree with you though. The airbnb market is getting very heavily saturated out here and finding a good rental property can be hard if you aren't willing to put in the work finding a deal.

No but I have a couple good recommendations for the area.

Depends on where you are. In NC no one wanted a pool where I was. In AZ and Las Vegas everyone wants one and they add some value to a rental. No matter where you are make sure you have a pool fence and some sort of warning about the pool in the lease. Then make sure you have the proper liability insurance. 

We've seen less bookings but the good properties that are attractive to people on vacation and aren't charging absurd fees are doing great. I think knowing the market and your potential tenant is paramount in making a good choice with a STR.

He probably can't remove them. Some MLS's keep them so that appraisers can reference them in the future. You can also remove them from the MLS, but some aggregate sites like Zillow and Redfin store the photos on the site once they have them. I believe you as the owner can request Zillow to remove them, but the amount of other sites they could be on is pretty high.

As far as benefiting from the photos there isn't a whole lot. I keep track of all my listings and if a potential client asks me about what I've sold in the past I might pull up the pictures on my computer or have a pamphlet, but the last thing I'd do is direct a client to Zillow.  

No photos.... Is this a "discount agent?" even then that's pathetic. Also if she can't fully explain the contract and contingencies then that's embarrassing. See how she already has procured a buyer you're probably stuck, but I wouldn't go back next time. 

In my experience I've had to wait for a photographer to take the photos and edit them, but that is still pretty quick. When that happens I'd at least have a front photo of the house and put it on market as coming soon to start getting interest in the property and then I'd have it go live once I had all the photos uploaded and more people could see the listing.  

This should have been disclosed before you even entered a contract to purchase. 

I avoid dual agency where I am the agent representing both parties, because I can't fully do my job since I can't give either party an advantage over the other. You essentially become a transaction coordinator at that point. If I represent one side I can pull all the moves I know of to try and get my client a better deal.

Now that being said anytime there is a listing at a firm with the same broker and another agent at that firm brings a buyer that is also considered dual agency and would require a disclosure. In this instance the broker is the only one who could potentially have access to both sides, but both agents are solely representing their respective clients and can do what they need to do. You just need to hope you got the better of the two agents. In this situation it wouldn't bother me since both agents can act in the best interest of their clients, but the form should have still been given to you upfront. The only time I would avoid this situation is if the agent on the other side is that firms broker unless you have a very experienced strong agent maybe even an associate broker at that firm. 

A consumer notice wouldn't void a listing contract where you agreed to pay him unless it says you don't have to pay him if he fails to give you the consumer notice. Depending on your states laws you might be able to file a complaint and he could be fined, censured or have his license revoked. Withholding his pay only open you up to a lawsuit.

I've dealt with crappy agents before and that's why I got my license in the first place. Technically his broker would hold the listing so I'd reach out to his broker and a good broker would fix the issue and in some cases assign a new agent to take over. I've also seen agents severed from a firm for negligence, deception or dereliction of duties. 

I'd say your best recourse is to call his broker and/ or file a complaint. Also Reviews are a big deal for agents. Withholding his pay only opens you up to trouble and I've seen investors try and stiff an agent and then the investor could never get an agent again that had any skill. They were stuck with brand new inexperienced or desperate agents and that can affect you more than you'd expect for quite some time.