All Forum Posts by: Eric Sullivan

I personally am an investor and have been for a few years. I have a pretty tight network I work with and it runs pretty smoothly. But outside of real estate I have been a business owner my entire life. I look at agents as their own businesses within a brokerage. Out of curiosity, what are the challenges you guys deal with every day either in growing your business or managing the operations. 

If you are really committed to doing this specific deal I would highly recommend an experienced partner. The best part about real estate is the creative aspect of putting deals together. If you have all the capital for the down payment and the secured financing you could bring someone in who has the experience to help fill that gap. Or split the purchase with them. But if you plan to go solo and it's your first deal, I would say you might be biting off more than you can chew. Also if you are looking at financing, banks may not lend too you since you have no track record for a deal that size and you would be outside their risk tolerance level.

I would go to this but I am in NYC on business. I will try to attend the next one.

@Jeremy Sharp first time I looked at doing this I paid the agent I use a few hundred bucks to help me put the offer together and send it over. He was cool with doing it as a consultant basically. Could give this a try if you have someone you work with.

@Julia Bykhovskaia I’ve tested this a lot and I’d agree in the 90% range is a good target. The other thing to be wary of is people who are looking for the lower priced deal I tend to find 9 times out of 10 complain a lot more. Better to price those people out of the equation as well.

@Mark Frattini also make sure to call your insurance company once you learn what type of dog it is. It may have impacts there as well.

@Kellen Canfield the devil is in the details. I’ve made made mistakes like this by not being explicitly clear. I’ll typically show pictures now, I have a folder on my phone of my expectations. Situations like this I’ll have an honest conversation and come to a middle way. So maybe I pay a little but to cover the extra work because I didnt explain in detail. Especially if they are a good contractor which is hard enough to find you want them to take your calls.

Welcome to the game @Gretchen Mather. I am up in Salem, it would be great to connect.

Thanks! Yeah I tried to change the zoning of the 3 fam we have now and even called in a favor and no budging by the town. Oh well can't predict everything.

Look forward to hearing from you.

Eric

@Blake Denman so the airbnb I currently have in salem is zoned R2. The 3 family I bought in July I just finished and we are condoing it and selling it which they will go on the market beginning of January. We are closing end of this month on a 3 family downtown which is zoned to allow Airbnb. And finally we are working on a big deal that yield us up to 24 units right near downtown of which I may structure the condo docs to do Airbnb for a few whenever we get to that point. I only look at properties that are zoned R2 or R3 when it comes to multis to avoid the issues with Airbnb. Long term rentals are great for some people but I would rather own less properties and make more money. 

But feel free to reach out anytime with deals I am always happy to look and have some capital to put to work with the sale of some other properties happening as well.

Eric