All Forum Posts by: Kevin Zimmer

For the MLS, give your realtor the exact criteria you are looking for and have them set you up for an alert. If possible, don't just let the alert come once a day, have it come as soon as it hits. Be ready for when the deal comes in. If it is a short sale you are most likely better putting the offer in through the listing agent, and compensating your realtor some other way (separate broker commission agreement, understanding that you will list any properties with them). Also, if it is a really good deal, don't be afraid to bid over asking or change your terms. Sometimes you need to create deals.

I work in south central NJ, so my comments may not apply all over.But my experience is that the banks use RE agents to do their BPO’s.No insult intended here, but in my opinion if you are a good RE agent you are buying and selling houses for clients, not working at an hourly rate doing BPO’s. So I take advantage of the situation by “helping” the agent out by meeting with them and providing them comps to make their job easier.

Working with your agent is a negotiation just like any other one in your business.You need be clear in what you want and ask for it.And if you expect your agent to be working hard for you, you need to be loyal to them. I am not sure what type of properties you buy, but have you considered paying a commission greater than what they receive from the sale?I do that with investors all the time.If they can find you the better deals (i.e. more profitable to you) why shouldn’t they share in that upside?

Hi Ray.  If you go to the "Analyze" tab there are a couple of reports that will show you the information you need.  If you become a "pro" BP user you can create pdf reports right from that area to present to investors.  But even if you are not a Pro user you will see the information that should be included/presented.  I'm not sure what type of deal you will be doing but there are calculators for fix and flip as well as rental props

My initial response is why would you want to hide anything.  I am always up front with the seller, letting them know I am a middle man and need to make a profit.  But if you really want to hide it make sure the contract is assignable and assign it to your end buyer for your wholesale fee.

This is another area where having a good investor realtor on your team is helpful.  They are always recommending inspectors for their buyers.  If you have a major aversion to talking to a specific realtor, try going to their company website.  Often a list of recommended vendors can be found there.  A lot of home inspectors that do residential will also do multifamily.  I am also a fan of using a local inspector.  They are familiar with construction and builders in the area should have inspected similar units.  

Good morning Jennifer.  I am familiar with the Trenton area.  I am not sure what you are trying to do.  Do you already own a house in Trenton and you are looking for a tenant?  Your question says you are trying to find a new place...to rent/buy/live in yourself?  Are you living in the current one until you find a new place?  Looking to find in Trenton/Hamilton or Ewing?

Hi Jesse, I am also an investor in that general area.  What type of GC are you looking for?  Major construction/renovations, or one off handyman items?  Do you have a current project or are you looking to build out your team?  As with all professions, the good ones are already busy.  Also, the people that use them frequently do not want to share their names because they want the GC to be available for them when they need them.  But you may be able to find someone that you can partner/jv with.  You need to get educated on construction rehab costs.  There is a decent book available for sale on the BP website by J Scott "the book on estimating rehab costs" .  There are lots of other resources for that information, its a matter of how much you want to get into the details. 

Good luck

I agree with all the recommendations above.  You should also have an investor friendly realtor on your contacts list that can recommend inspectors, title companies etc.  I am licensed, but I also use other realtors to find deals and move properties for me.  You cannot scale if you are a one man shop.  I say an investor friendly realtor because home inspections for typical residential buyers and investors are different.  Residential buyers buy used houses, but they expect them to be perfect.  Investors expect there to be flaws/blemishes (at a minimum) and make their offer accordingly.

Is there some specific language in the letter that concerns you?

I'm not an attorney, but the request in the letter did not seem unreasonable.  I used to work in software sales/distribution, and it is not uncommon for people to buy software to test drive and then return.  The seller does not mind, as long as buyer is really not interested in using it further. Better to have the opportunity to impress than not be considered.   When done properly it is good for both buyer and seller.