All Forum Posts by: Parker Shoaf

 I think it is always nice and is apart of building that core 4 to stick with the same person. I have found deals and the seller did not use the same agent because I could find a buyer who wants it and put my commission in the price so it made more sense for them to do that. Thus, with all things it can sometimes depend. 

Hi @Parker Shoaf,

If I find a good deal for an investor....I usually have the expectation that the investor will then at a later date use me to list it - whether on or off-market. I don't assume that.....but I usually have that conversation with them. Obviously we will negotiate a listing fee that would be a win-win....

I also take as a given that that same investor owes me no specific loyalty or obligation to always use me....and in fact, will probably use other agents to list properties that came their way via those other agents.

Investors generally love working with agents that can find them deals - we agents love working with investors who are on the move and actively buying - and that often will lead to relationships that are pretty constant - although not exclusive in any way.

Unless you are a pro at eyeballing the cost of the rehab (or have a friend/long term relationship with someone who does this for a living), pay a contractor to go to those 3-5 you identified to get a better eyeball estimate (and make sure your contractor is adding permitting and other fees). Than add a 10-20% contingency. Nobody will ever get to precise numbers until the job starts and you’ll have change orders for other unknowns throughout the project as well 

Once you’ve looked at a few dozen and obtained estimates, you’ll get better at eyeballing 😁

@Parker Shoaf the previous answer you have heard is correct, "When the property is under contract."  For all the reasons you stated.

Good Investing.

@Parker Shoaf The SA market has also shifted to a bit more normalcy, so negotiating within the deal can also help you save. You can start by underwriting the deal based on what you're comfortable spending on rehab and the ARV based on comps. As you have properties meet your criteria, you can start making offers and if any are accepted, use your option period to perform inspections and get a more precise bid. Some of these homes may not add up, and you'll be out a few hundred dollars for inspections, but it's money well spent for the education and to find the right property.

Have you had a Home Inspection yet? A good HI will uncover most thing wrong with the property and refer you to specialists for those things they don't know about. 

That is how a lot of people develop an initial Scope Of Work, then call in your GC to expand the SOW and give you a related budget.....

I have a scope of work sheet I’m happy to share. DM me