All Forum Posts by: Joey Dwyer

@Account Closed Hey Michael,  

 We don't have any multi units in our inventory right now.

We mainly focus on SFR's for rehabbers in all of L.A. county. If you are a cash buyer we should be able to create some $ynergy.

 If you are interested I can connect you with our acquisition specialist.

Thanks, 

@Linda Asato   Hi, Linda

I belong to a great Reia in Torrance. We meet once a month at the Double Tree on Hawthorne Blvd. If you're interested our next meeting is monday @ 6:30 PM. We'd love to have you.

I'd like to attend but I noticed it's a hipster style cafe. I might be the opposite of hip. I don't own any skinny jeans or wear a beard or a handle bar moustache. Would I still be welcome?

@Adam Bartomeo  Looks like you have struck a nerve here. I do know how it feels to have a bad experience and blame a whole industry. I also agree on other comments about how the requirements to become a realtor are too easy. But my transactions have all been positive ones. I'm not saying this because I am a licensed Realtor. I've only been licensed for a year now. I have been investing for over 15 years and I've used many realtors. Some have even become friends. 

I used a realtor in AZ to sell an out of state investment property last year. She went above and beyond her job description. She lined up all the contractors, paid for photographer and gardener out of her own pocket, and when I got a notice from the HOA for over grown weeds she went down and pulled them herself. My brother was 5K short for his downpayment and his agent put up the money as a gift just to get the deal done. (of course he did eventually pay her back) but my point is... the 99.9 % number might be a little on the high side.

 I truly hope your future transactions are positive and may the wind be always at your back.

Hey @Tim Neighbors I sometimes fear the same thing. But Real Estate is what I understand so thats what I invest in.  I have a few in Texas as well,and they've done very well. I would say as long as you have enough reserves in the bank to cover any repairs and vacancies and you find a great deal... go for it. Just don't over extend yourself. 

  If you just bought those 2 in Austin maybe give it a year and see how it goes. You will get a much better feel for what kind of expenses will come up. And you should get a better tax refund next year with the new write offs. maybe use that as your new down payment.

Just a thought, Good Luck!!

@Account Closed Hey, both great ideas. I ended buying them a Keurig coffee maker with a 20% off coupon and gave them the gift receipt from Bed Bath and Beyond. I did think of the Lowes card but they had to gut the house so my gift card wouldn't have put a dent in their project. 

 They did refer me to a friend and we just closed on another one actually on the same street. I got them the Keurig too and they were totally expecting it. I take my 8 year old daughter with me the first weekend in the house and let her give it to them. It works out nicely but I will absolutely look into the Lowes program along with the gift.Thanks!

@Ryan Dossey I agree on joining a team. You can spend your first year really learning the business from someone who succeeds when you succeed. They will have a vested interest in you and thus you will have more opportunity to really get a good education. 

   Especially if you don't have an established network yet. Remember, people hire an agent they think they can trust. If you are part of a team who is already established it gives you credibility with a name they have heard of.

  You can have the Team name and company on all of your marketing while getting your name out too. I'd pick my farm area and hit them with flyers, door hangers and postcards. Once every 3 weeks. Door knock and meet people.

 As far as a budget... as much as you can afford. Don't go too small because you won't see the returns fast enough.

@Christopher Abernathy Have you thought of a 4 plex? FHA 203k is available for up to 4 units. That way you can offset your vacancy rate a little better, by losing only 1/4 of your rent while vacant. Of course it depends on how much you have for a down payment, and how comfortable you are living so close to your tenants.

@Ernad D.  Just remember your offer price does not have to be the price you pay. If you offer over your max strike price and they accept ,thats ok. You will always have time to negotiate that price down after inspections. The advantage being ... you are the only one in the game. 

 They are more willing to give concessions after you are under contract because they don't want to start over. You will have a 17 day inspection period where you can back out for any reason and your ernest money won't be at risk. (please check with your realtor) in Illinois.

 You always want to get your cap rate from existing rents and not the pro forma. Sounds like you did. And it wouldn't hurt to see if they will carry any portion of the loan if it is all paid off.

Good Luck! 

@Tatiana R. Welcome to B.P. !