All Forum Posts by: Larry Turowski

Here’s what I think will happen. Buyers offers will contain a contingency that the seller pays X percent to their buyers agent.

And the negotiations will go from there.

I do think real estate agents are over compensated. Heck, I’ve thought many times about becoming one because of this.

The barrier to competition has never been getting licensed. That is a very low bar. The barrier is the control of the MLS, and, in spite of assertions that compensations can be negotiated, that control coupled with collusion has created a sort of cartel effect.

What would be great is a national disruptor. A company that could offer a paid listing service together with 10 hours of training and a help desk. And maybe extra expertise for pay. Certainly saving potentially 10k or more would be worth the hassle to most people. A company like Zillow should be able to do this, to market intelligently, give people peace of mind, and have the data to back up that it works out better for the seller.

Real estate isn't rocket science, let alone and doctor level. And Realtors shouldn't be compensated like rocket scientists or doctors. Control over the MLS together with the anxiety that comes from a once in a lifetime huge transaction has allowed them to be.

I've done short sales in the past where I live using a local realtor who is an expert in short sales. I'll be working with relatives on this one. Any recommendation for help?

Awesome, thanks. DM’d you.

Any experienced commercial/multi-family investors willing to talk a little about their investing journey--like on the phone?

I'm an experienced investor, both flipping and buy-and-hold many SFHs and small multis.  In addition, I've done a couple of small commercial deals.  Now I am considering going big.

One of the things I found invaluable early on was talking with experienced investors and asking them to tell me their story.  How did you get started?  What do you do now?  What is working for you?  It really helped me shape what I wanted to do.  I have in turn done that for many new investors.

And now I'm in need it again.  Would you be willing to spend 20-30min on the phone with me?  Please reply or DM me.

I am capable of beating average stock market returns in real estate. I am not capable of beating average stock market returns in the stock market. Nor are most people.

You can search BiggerPockets for general questions like this, that have been asked thousands of times. Basically, it’s a great way to get started, and even to continue and thousands of investors have done it.

I’ve been using Rentec direct for a few years. Never heard of Innago before now. What I liked about Rentec when I was doing my search is the monthly fee was lower than others like rent manager. It had to pay near me integrate it so people can pay cash at various stores to pay their rent. It also has ACH and credit card pay the background checks for half the price of others and it just had better features. I also like the recording.

Concrete block is porous. The ideal situation is to seal it from the outside before it gets into the block. I think that is part of what the expensive solution provides. Drylock should hold up for 3-5 years for moisture. If you’ve got serious water coming in, it may not hold up long.

Since you say it is two blocks you’ve got a very specific issue and it is likely a gutter discharge issue in that area. You’ll need to investigate how to get water away from that area outside. 

@Alexandra Winkler I don’t know where your house is but generally it is not worth it. I get water in my own basement. I’d say more than 50% of older homes in Rochester do.

Here is what you should do in order of importance. 1) keep a dehumidifier running 24/7 in the basement, draining to a floor drain or put it up on a stand and drain into the utility sink. 2) install a sump pump. 3) get rid of the mold and dry lock (type of paint) the basement walls. 4) grade the ground away from the basement.

And I don’t know that I would do #4. It can be tough to accomplish on some lots.   oh and make sure gutter downspouts are extended to dump water at least 3 feet away from the foundation. 

@Nathan Gesner gave you the perfect answer. If you got sued for $1M and only had $500k it is not as if the insurance company is just going to pay out and you’re on the hook for the other $500k. They’ll fight tooth and nail to pay as little as possible, if anything at all. This is the one time we like how cheap insurance companies are. That $1M lawsuit, if there is any legitimacy to it, will probably get settled for $100k.