All Forum Posts by: Mark Albini

@Joshua Bryant it depends. Is the cemetery a nice one or run down. Is there a lot of superstitious people is your town. Is the deal good and will provide you your money for rent or fix and flip. Lots of factors there.

@Aaron Steinfeld a typical buyers agent fee for a FSBO is 3%.

In my market it's not typical to cover more than that. However, an agent may have a minimum. Meaning 3% or $1500. Which ever is greater.

If you sign an agency agreement agreeing to that or more, then yes, you are responsible.

Hey Josh, 

While I don't invest in the IL market, I have seen that IL can be a not so friendly landlord state. Do you have any contacts there at all?

If not, I would suggest maybe looking where I invest. Evansville, Indiana. Im a licensed realtor here and moved here from Oceanside, CA. I used to invest in California, but yikes! those down payments are killers. I work with many investors from California to start building their rental empire here. Most SFH between 14-75k that cashflow on average between 20-30% Annually.

I'd be more than happy to discuss your goals and any questions you may have! 

Hey Paul,

An agents responsibilities are whatever they want them to be. Many will set up on a auto emailer and if you express interest, will do some more homework on it for you. 

Also, most of your agents out there are not an investor style agent. I personally sign my clients up on the emailer, but also put together an email when one that I believe works for them pops up. That includes the property, cashflow whether financed or cash, what I think it'll rent for.

In addition, when you close, most agents will just give you the keys and say good luck. I personally snag the keys and go throw it on a lockbox and forward the PM the information to get it rented. I try to provide my clients with a turn key service, from offer to rented. 

You need to find an agent who does that in your market.

My market is Evansville Indiana, we have turn key rentals from $14k-75k that cashflow on average between 20-30%. I'd be more than happy to talk with you and discuss your goals and see if investing in the midwest is a good fit for you.

Yes, you can do it that way, or you can even talk to an agent to do the paperwork for a small fee.

Hey Mason,

I can completely understand your reasoning, as I used to live and invest in Sandiego county. Coming up with 20% down for investments there was rough to say the least.

I have since moved to the midwest. Evansville, Indiana to be exact and I have taken many investors portfolios and helped build them here. The cost of acquisition is cheap, you can get in and started investing with about 10-15k, and the return on investment has been great for me. 20-30% average. 

I have helped many out of state investors like yourself start and continue to build their portfolio here. I'd be more than happy to answer any questions you have.

I am licensed in the state of Indiana

@Denny Ramirez Hey Denny, welcome to the investing club!

I would also recommend looking at Evansville, a few hours south of Indy. 118k population. Great rental returns. I have personally gotten around 50% ROI annually on them. I typically shoot for 20-30%.

Let me know if you have any questions. I'd be more than happy to help. I'm a licensed agent in Indiana.

@Kenny Yoo if you purchase a home, you can resell right away, that's your right. However, for the first 90 days, it'll have to go cash or conventional. At 91 days it can go FHA, VA, USDA and you the seller has to pay for a second appraisal.

@Eshmield Ruberté I completely understand your situation. I was born in raised in CT and invested a lot in CA. I was so tired of investing in 400k plus homes. So I researched hard and moved to the Midwest. I am in Evansville Indiana where it one of the easiest places to start your empire.

I stay mostly in the 30-75k market where returns are typically 20-30% ROI annually. Add that with the low cost of acquisition and it's a win in my books. I'd love to discuss more with you if you'd like.

@Jason Polykoff I have done this multiple times with a VA loan. All cosmetic of course so it can pass appraisal when I bought it the first place. Upgraded it. Cashed out an additional $30k @ 80% LTV