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All Forum Posts by: Account Closed

Account Closed has started 10 posts and replied 79 times.

Post: Small broker vs Big broker

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23

Congratulations Ryan on getting your license!  As a licensed Broker in IL since 2006, I have worked in three different offices over the years.  Everything from the small guy in town to the Red/White /Blue balloon guys (ReMax), back to a smaller office.  Here's my take on it.

Small office:  The pressure to sell is not there like in the big offices; the monthly dues are less (ALOT less); there is more of a family feel there.

Large office: You can pull from the brand recognition; established training is in place; more office space/private office availability.  

At the end of the day, I felt like the smaller office was the way to go for me.  The Broker is always happy to answer any questions you have, and the internet can get you all the training you need!  I've never had a client ask why I wasn't with the bigger offices in town.  All they care about is that I know how to sell their home...quickly! :)

Good luck!

Post: How to write off your trip to Disney

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23

Post: How to estimate a purchase price on a foreclosure fix and flip?

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23
Yes, you are figuring correctly. The amount of profit is up to you and the amount of competition you have. We use 30% for foreclosures. Good luck!

Post: Dealing with junk mail

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23
In Illinois, you simply tell the title company what address you want the tax bill to go to. As far as the purchase address, we use a PO Box. That helps tremendously.

Post: How we run our shop - a Technologist's infrastructure

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23

Thanks.  They just quoted me $80/month for the bare minimum and a $399 set up fee.  We own 5 buildings with 14 units and I didn't feel it justified the cost.  They tried to upsell me on many pieces of it as well.  We will keep using QB Online for our accounting and marker boards in the office for the rest.

Post: Buying Out of State - Newbie

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23

I agree with Steve.  There are a A LOT of things that you will want to learn how to deal with or have systems in place to deal with in your local market before I would recommend venturing out.  There are plenty of deals within 30-60 minutes of anyone's home.  Look at Brandon Turner.  He lives in a very small town and is finding deals :)

@Stacey Johnson:  As a licensed Broker in IL, we would "list the property" on the multi-family side of the MLS.  If the home could be retro fitted back to a SFR, we would also list is on the SF side of the MLS as well.  Comps will be based on other comparable sales as opposed to larger units 5+ where investors would look at based on the CAP rate.
Good luck!

Post: How we run our shop - a Technologist's infrastructure

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23
@Sergio Altomare: Loved Google Voice.  We outgrew it and now use Ring Central.  Give us a little more flexibility and can set office hours of when our phones ring, where they ring, multiple extensions, etc.
Sergio, what does PropertyWare cost a month?  I couldn't find that online without them contacting us...

Post: How we run our shop - a Technologist's infrastructure

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23

Thanks all for sharing details of your business with us all.  We currently own 5 buildings with 14 units.  We use QuickBooks Online for our accounting needs, but otherwise use marker boards in the office for our day to day details.  I am going to check out some of the suggestions you guys have used to see if it might make out lives a little easier.

Our tip to share: We do use multiple computers in our business.  Some on site and some off site.  We use SugarSync to back up our files online and sync them between each user's computer.  Very helpful and easy to use!

Post: Did You Ever Get the Feeling,,,,,,,,

Account ClosedPosted
  • Investor
  • Normal, IL
  • Posts 87
  • Votes 23
What happened Joe??