All Forum Posts by: Joe Norman

The question is a little too vague so its hard to give a thought out answer - "desirable" is in the eye of the beholder. What is your budget? That will be the biggest factor in determining which neighborhoods to focus on. 

I know some people who do it well, but they all have experience and people leverage to support them. It sounds like you're looking to provide remote real estate services starting out, and that sounds like a recipe for disaster.

If its a good deal then pay your agent the commission they earned by sourcing it for you (generally around 3%). I'm sure you'd pay a 3% wholesale fee, right? 

This is a little aggressive don't you think? The OP's asking for tips on sourcing REI deals in an REI Educational Forum. Simmer down...

Since you don't have a listing agreement with a brokerage (which would specify the buyer's agent commission) you are under no obligation to pay it - its completely negotiable just like every other term in the offer. 

Whether you should or not depends on the rest of the offer, IMO.

Most MLSs require that any house that has a Coming Soon (or any other For Sale sign) hanging be listed in their database immediately. Not all syndicate Coming Soon listings to Redfin/Zillow/etc. but it should be in the main MLS that your agent has access to.

 Great, thank you sir!

 I'm currently doing a refinance through Direct Mortgage Loans - they're a national lender and have a strong local team in Baltimore. DM me if you'd like contact info I don't think I can post it in the forums.

Hello BP! I posted previously about key management systems, and I opted to go with the Kwikset Key Control Deadbolts. I love the concept of having one master Landlord key for all my front doors, while the tenants all have unique keys for each unit that can be easily rekeyed at turnover.

Here's the only problem I'm running into - copies of my master/landlord key don't work. Does anyone know if there is a special blank that has to be used for this cylinder? To my non-professional locksmith eyes the blanks all look the same but the copies of my master key aren't turning the lock. Copies of the tenant key do turn the tenant's cylinder which is makes it more confusing. Thanks in advance BP!

@Ken Dunn made some good suggestions for how to protect yourself in your initial contract next time, but in your case it sounds like you've already settled and the old owner doesn't have any obligation to you at this point. Personally I would talk to the tenant to confirm that they know their move out date and not rely on the PM to handle this communication for me. That conversation should give you a better idea of whether they intend to comply or hold over.

Side Note: I will never allow a post settlement occupancy to accommodate a tenant - next time just schedule settlement for after their lease is over.