All Forum Posts by: Jack Bobeck

@Gene Fish They were shady with me a couple of weeks when I was chatting with them on Lines of Credit. Would not suprise me if they cleaned house or had a CPFB investigation going on. 

@Joel F. Here is the list of what is permitted in the State of Florida with and without a license, as it pertains to Real Estate. 

@Kurt Stein I would not waste the money on an architect, drawings, plans, that will add up quick. I know I've used them for properties. Besides, you don't know if you are going to buy the property. See if the work was done right, before you go through the time and money to change the sq ft of the property. 

@Iggy Smith Best way to learn about being a landlord is being a landlord. Tenants have the best stories. Get into a local Real Estate Investors Association and learn there with locals doing the landlord thing. Take em to lunch, they will share with you. 

@Frank Inman What is your real estate investing goal? What is the goal for this property? What would you do with the money? If the deal matches your goal, I would recommend you do it. You can never do wrong by taking money off the table. 

@Kody Veit - this is a perfect Lease Option solution with Work for Equity. You take over the payments and then find a lease with the option to buy at another payment level. The Work For Equity allows the new prospective owner to lower the purchase price by doing the work. You are there to help facilitate the deal, make sure the work gets done and keep the payments going to the seller. 

Best part of the Lease Option is that if one person backs out, you get another to put down money and do the same program. Its perfect for properties not easy to sell where the owner wants to be done, but cannot afford to fix up and sell. You can always get a rehab loan or note against the house, if the seller wants a quick sale, but negotiate it as if you were buying with you own money. 

Yes, get a real estate attorney involved, but learn about Lease Options as well. Its a powerful strategy to own properties. 

@Jasmine Williams I have never met a successful part-time agent. I don't know any Realtors who lead their company in sales, transactions, units who are part-time. If you really want to be the best Realtor, you need to commit full time. Create goals for yourself for each month, year, week and day. If the goals do not scare you, they are not big enough. 

My wife is crushing it in real estate so far this year with the help of the Ninja Training method. You can google it, but its a complete real estate solution. There is a book, maybe even groups in your area doing the same thing. So many books out there, no wrong solution, but you really cannot ever be the best, by doing this part-time. I know its scary to branch out on your own, but it will also be the best decision you will ever make......you are the only one who can make it. 

Getting people to work with you as their Realtor is all about trust. Its the largest transaction a person will make. They want to make sure they have the right Realtor in you. So you plant a lot of seeds, water, touch people, touch, touch, its all about the referral and not making mistakes with time wasters. The more deals you do, the better you will get and the more fun you will have. Its a great profession! Best of luck to you! 

Besides having reserves, make sure you have properties people want to live in. A 3 bedroom house is better than a 2 bedroom house, just as a 4 bedroom is better than a 3 bedroom. Kids these days do not want to share a room with a sibling, they want their own privacy. Gone are the days of the 2 kids home living in a 2/1, as now both parents/partners are likely to work.

The cost to have a 3rd bedroom is negligent over 30 years, but can really affect what you can charge. Having had 2 bedroom units, I would never go to a 2 bedroom again. The problems and issues are similar with 2 vs 3 or even 4, so why take less rent? 

@Kurt Stein When you have a professional inspector review the property, you can see how well the unpermitted work was done. You can always get a quote from a licensed contractor to fix/repair any issues, they can pull a "repairs" permit for some of the items, and this also allows for the cost to be rather low for the permit. 

See if you can get a quote for insurance on the property as well. See what the insurance person, sometimes they send an adjuster to review the property, says about the space. I'd want to make sure that the city knows that the space is heated and that you can get insurance for all heated space. You don't want to buy a property that cannot be insured. 

You do not need any rental/landlord license if you own and rent out the house, yourself. Its a great area and your unit should get rented soon. You really will not know about the space until you get the inspection done. Everything can be fixed for a cost. 

Walk away from 2 bed homes. Not enough rent money, look for 3+ beds.

Taylor Nunn the signs you see are called “bandit” or “snipe” signs. Illegal most everywhere because cities want businesses to pay permit fees for signs and these do not. Usually wholesalers, but occasionally buy-fix-flip investors. Never hurts to call and see what they offer.