All Forum Posts by: Ivonne Pinedo

I am closing on my second rental single family home this upcoming Tuesday and need advice on the title company fees. The first company just charged title insurance $472 and title settlement fee $125.

Comparing to this company:

Survey fee $300

Title copy fee $55

Title courier fee $65

Title erecording fee $30

Title Lenders insurance $620

Title Settlement fee $250

Are these negotiable? Is it too late to change title company if they would not adjust prices? Thank you for your time and look forward to your responses.

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@Kris H., thank you and I would really appreciate a copy of the list.

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Originally posted by @Danny Webber:

@Ivonne Pinedo. See if A broker or agent will allow youbto become their assistant on the mls's so you can search for your own properties.

Find wholesalers

make weekend trips and drive for dollars while looking at properties

Contact prop mgt companies to see if any owners want to sell their rentals

Or...

Hello Danny, I love the idea of offering to be an agent assistant. I had not thought of that! I work full time but can manage to fit this in. Thanks!

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Originally posted by @Jonathan Greene:

It sounds like you have done some good prep work, but also a lot of this doesn't make sense. How do you have teams set up in different areas without ever having bought an investment property, but also no boots on the ground? How solid is this team if you have not been to the areas?

Hello Jonathan, thanks for your input. I apologize if it seems all over the place. I really feel that way. I have been learning and following advise to network, form relationships. Basically have first a "personal, amicable" introduction and disposition before hitting the person or company of interest with my needs. The solid team I have so far is the lender, and contractor/handyperson, a few relationships with property management companies. No boots on the ground yet but actively looking and visiting the places my self. Have not made the 6 hour drive yet but have driven 4 to Orlando and surrounding areas. Maybe I am naive thinking I will have their services when I finally have the property?

Why would you get your RE license if you are interested in investing out-of-state? You can only write offers within your state and with the areas that you have MLS access. The RE license is your best idea and you should use it to find the best place to spend your money locally. There are spots where you can spend the money effectively near South Florida.

I am only focused in writing offers in Florida. The reason I want to get the RE license is to have access to the MLS, get comps, write my own offers. Be one of my core 4, at least to start. Can you share or pm the spots you mention?

Also, are you saying you have 100k cash as a downpayment or your buy-in, with a mortgage, is 100k? You aren't going to find a ton of agents grasping to take your business with no verified deals and a 100k budget. With that said, you sound like you have a vision and that's what you need to sell them. But I think you think you are closer than you think. How many properties have you seen in person?

My buy-in with a mortgage is $100k. We have a preapproval for $300k but I don't want to go over said amount. And you are right, there are no agents willing to work for that price range (main reason for getting the re license. ). I have seen about 20 for sale by owners. Due to my previous homebuying experience (my primary residence) I don't visit the homes I find on the MLS but call the listing agent, but they have not responded either. I know it is strange, to the point I am losing sleep because no matter what I do I feel unheard. Still, among all the other things already expressed I have to read " So Good They Can't Ignore You". Thank you again.

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Originally posted by @Will Fraser:

Hi @Ivonne Pinedo! It sounds like you are working through this in a wonderfully systematic way -- great work!

The scenario you're describing here is really frustrating! I've seen both sides of this conversation enough times that I thought I would pass along a few tips in getting the most of out these agents:

You would not believe how many people reach out to most agents with investment understanding with Big, Hairy, Audacious Goals . . . I am a small fish in my local pond yet I am approached weekly, often daily, via calls, texts, and emails from people who "live in an expensive market and have identified ______ as an ideal Long Distance investment location and will be buying ____(insert audacious number of homes here_____ in the next year." And to date I have seen ONE actually buy a house . . . at all. So, scale this up and what's probably true is that every agent, lender, title officer, and PM has heard a similar story over and over, with a lot of flash and no sizzle.

Because of this, when people come to me with the following it is shockingly affective in getting the best out of me, and I would think this would work with any agent worth working with:

- A plan . . . a realistic plan. Then they ask for my feedback on their plan. #Honored

- A home . . . already picked out. - THE single best introduction you can have with the agent (starting with lower end homes) is a layup for them. If you come to the agent with a property in mind, and all of your other ducks in a row then they will see you as far more of a professional than the other few dozen people they've talked to in 2020 so far, and then you will start getting their first round of attention, not their last round.

- An attitude of gratitude - gratitude really is the greatest attitude (that's why they shoved the words together to make a new one, right!?) When an agent is in demand and has, let's say, a dozen active clients at one time it is remarkable that people ever think scolding, yelling, and otherwise being a turkey to the agent is the way to get the best of the agent. I am constantly amazed at how "light' it feels to work with clients who are sincerely grateful for my efforts.

When someone comes to me with these qualities about them then I KNOW they are probably worth my time. Without these qualities being true, though, it's something like a 5% chance they will pan out, and I don't like those odds :)

Thank you for such detailed response, Will. I am often told I am too straightforward with people, too strong. For this reason, I would not tell the agents I have approached I already had a property in mind. I am going to try this in my next conversation. Regarding my plan, I think it is realistic, I have told agents I am not expecting a turnkey, already rented property. Your response made me rethink my strategy. I really appreciate it!

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Hello BP! I am a new investor looking for properties under $100k to buy and hold in Florida. At this time my main goal is cashflow.

The market in my area -South Florida- is out of my price range, so long distance investing is the way to go. Thinking about my core 4, I have the lender, contractor, and have property management lined up for the different areas I am looking into, no boots on the ground yet. The issue I have is actually finding an agent willing to work with me. I have contacted agents found in the network section but have not been able to really get started. I understand commission on properties under $100k might not be much but it is my starting point. I have financing ready, I am ready to submit offers, I know what I am looking for and communicate it. I just feel stuck to the point I already enrolled to get my own real estate license but I don't want to wait until I get my license to start submitting offers. What am I missing? Long distance investing requires a team to work. How can I improve? Any and all advise is welcome and appreciated! -Ivonne

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HERE! New investor, ready to buy. Looking for deals, learning daily. Jumping through all the hoops to break into this, also in South Florida. Working on getting certified as a remote online notary and thinking about taking the real estate course so I can write my own offers and navigate more efficiently through the system.

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Good morning BPers,

Does anyone have an investor friendly realtor in Jacksonville? Someone that will visit the property, communicate via video chat etc? Thank you

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@Russell Holmes, thank you for explaining. I would understand if the realtor would tell me the offer is unreasonable but I also consider other factors that would support the offer such as time on the market, this house I am referring to is vacant.

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All Forum Posts by: Ivonne Pinedo

Ivonne Pinedo has started 11 posts and replied 52 times.

Post: South Florida Meet up

Post: Negotiating Title Company's fees

Post: Looking for advice. Need to review my strategy.

Post: Looking for advice. Need to review my strategy.

Post: Looking for advice. Need to review my strategy.

Post: Looking for advice. Need to review my strategy.

Post: Looking for advice. Need to review my strategy.

Post: Where are all the female investors and real estate agents?

Post: Jacksonville, Fl investor friendly realtor recommendations

Post: Newbie recommendation request