All Forum Posts by: Virginia Marphis

I suggest networking. I’m an investor friendly Realtor who has an Investor’s Group who meets once a month the third Wednesday of every month at my office’s large presentation room. At 6pm this Wednesday. You and I can get together by appointment and talk further on your plan to see how I can help.

Join us and learn, network, share ideas. You do not need any prior experience in real estate to participate, just a strong desire to grow a profitable real estate portfolio and learn from other investors the best methods and tools to use. Let's do this!

Keep your Third Wednesday of every Month open to join us.

The Month of FEBRUARY will include the following topics:

- GUEST SPEAKER

- Market Report by Ginger Marphis

Please, if you have any expectations or requests, message me at least two weeks prior to the meeting, and we will do our best to accommodate.

We are looking for some speaker ideas or topics. You are welcome to submit those ideas so that we may engage this group in interesting, educational topics

We are looking forward to meeting you.

Due diligence:

My first course of Due Diligence includes Calculating Return :

1. Property Condition/Repairs Needed - Cost Associated

2. Comps in the area for Estimated ARV

3. Exit Strategies Calculated (Multiple are Good)

4. Double check my number with another & have a Contractor review the property

5. Make my offer

This is just the start. There are so many different aspects of Due Diligence. Luckily we have BiggerPockets, right?

https://www.biggerpockets.com/renewsblog/2013/07/2...

I agree with most of the comments from everyone else. Great advice. Support from the spouse to be is huge, however, it does sound like she's overwhelmed. Hell! I would be too. Planning a wedding is enough stress to put any girl over the edge! 😳 Audiobook Rich Dad Poor Dad. Discuss your dreams and aspirations together. Learn about each others wants and needs for the future. Help her dream big for your futures by writing a list of 100 Thinking big (no limits) items. Vacations, dream houses, Children, college, ability to help others, charitable opportunities, etc. Rich Dad has a three day initial training that's only $200 that talks about all this. Surround yourselves with people doing what you'd like to be doing. Working on her mindset in thinking big is the goal. DONT DANGLE THE 🥕 carrot. Treating someone with respect is important in a long term equal relationship.

Hire a good property manager who knows the laws In Your area and let them help you evict.

Nicholas,  you need someone on your team, locally, who can watch out for possible pit-falls for you, in my opinion. An Attorney does not typically to look at the property. Besides, on the west coast we use realtors, not Attorneys to represent us for transactions, unlike in Wisconsin.   Realtors are going to go check out the property for you, draw up an agreement that protects you with all the appropriate contingencies, etc. The only problem here is that YOU  would be responsible for paying the agent. Looks like the Seller does not want to compensate a Buyer's Agent. I always say, "Buyer Beware", when a seller (especially a rehabber) is telling you not to have an agent represent you. All too often Buyers get taken advantage of in these situations when you do not have someone in your court looking out for you.   If this is a group you have worked with previously, or you know someone who has had a good experience with them, then I would possibly consider it.  Your nervous feelings are probably your gut speaking to you, telling you there might be something not quite right.  I always recommend the buyer write the contract that meets THEIR NEEDS on THEIR TERMS!  

It's not unheard of for Sellers (Wholesalers) to not want to pay the commissions, but perhaps talk to someone who works with these sellers on a regular basis. 

Another good tip, if you do not work with a Realtor, is be sure you have a really good Title Company to work with. Make sure it's someone who is working for you and taking good care of title searches and ALWAYS BUY TITLE INSURANCE on any property you buy.

Good luck!  If you'd like to chat live, call me.

There are definitely opportunities out here in our hot Reno Market. Give me a call, JR. I'd love to talk about what you are looking for and see how I can be of help.

REO's DO look at rehab costs for their properties, however this only helps if there is no competition for the property, which is rare in my market. If you do have an estimate of. Rehab costs it is only relevant if a licensed contractor has provided this estimate.

My name is Ginger Marphis. I'm an investor who happen to become a licensed Realtor to fill a need for investors in the Reno Market.   I run an investors group where about 30-40 Real Estate investors meet once per month. I welcome you to Google Me "Ginger Marphis" and then call me. Tell me how I can help.

I refer all lower commission work to a junior agent. I also have a showing agent I can send to properties. Turning away business is not a good practice..... however, there are those clients who abuse their agents without giving them much business. I've had to cut loose a few of those in my career as a realtor. There's a point when an "investor" is really just treating "investing" it like a hobby when the agents are actually just trying to make a living.