All Forum Posts by: Ravi P.

I have someone I can recommend. Send me a pm if you still need someone. Not sure on his availability.

@Leslie Frieze I have 2 guys I can recommend. If you are still looking for a tile guy shoot me a pm.

@Tiffany Allen. in order to avoid capital gains tax you must love in the home as your primary residence for 2 years of the LAST 5 years.So it would go back 5 years from the year you sell.

@Konrad Lightner I am not an attorney, please don't take this as legal advise. One thing to consider is that anyone can sue anyone for any reason. so the former tenant can sue everyone involved. based on what the Attorney is stating, your contract with the PM may have an imdemnification clause releasing the management company of any liability, or the attorney is bluffing, and hoping you will sign a hold harmless letter removing the pm company from the lawsuit. One thing I would like to know is how involved you were with the management of the company. Did you have to approve of these repairs. Or did you empower the management company to take care of these issues. If you have no prior knowledge, I think you should be able to sue the PM company in the event you lose the case with the former tenant. but more importantly, if these deficiencies were corrected and documented you shouldn't have anything to worry about. consult an attorney independant of the pm company and do not sign anything.

@Gil Or around Chicagoland, you can find someone for @ $65.00, check Craigslist. $294.00 is outrageous! I know Roto Rooter have a 300.00 minimum they like to charge. but that is by no means what you should try to beat. Or better yet go the the local plumbing store and buy an auger and clean it your self. It is pretty simple. After that tell your PM to send you all their clients that have the same drain issues. You can clean the drain line for half the amount they are charging. There isn't really any barrier or licensing requirements to clean drains.

@John T. I am not sure what you are trying to accomplish and what numbers you are basing your decisions on. According to my back the envelope calculations, if you owner financed $135,000 @ 5% with a five year ballon amotized over 30 years. You can collect over $25,000 in interest payments. this is much more that $5 k premium that you plan on charging.

@Tim Wong From what I have explored regarding cost segregation, the minimum value most firms look for a $500,000. More importantly, it would depend on what assets can be depreciatedon an accelrated basis.

Originally posted by @Ryan Murdock:

Originally posted by @Ravi P.:

@Redgy Saint-Germain @Jay Hinrichs @Matthew Olszak @Russell Brazil

The original poster stated he already bought a property with this agent for $252K at 2.5% that is a +-$6,000 commission check. The 2nd property was much less and would net him a $500 comission check. Thats $6,500 on 2 properties. Would you guys happily show and sell 2 properties that would net you 2 commissions checks for $3,250 each? Still netting you $6,500. This is pretty interesting discussion regarding Realtor Psychology. What's the difference in two scenarios? I can reapect his and your choice but the OP was not wrong to rely on him and feel sour about his response. Especially when this particular Agent does not seem to be adding value.

Flawed logic and flawed math here. Ravi, if you bought a property that netted $6k/mo would you then buy another one that lost $2k/mo and be satisfied that you're still ahead by $4k/mo? Twice the work for less money? No. You'd rather use your same valuable and limited resources (time and money) to invest in another profitable deal instead.  

Also, you, like many, seem to believe that the entire commission amount ends up in the agent's pocket. After agency splits and office fees etc the agent often ends up with half of that amount......then they get to pay for all of their own advertising, gas, and other expenses from that. Whatever's leftover at that point is subject to a hefty self employment tax. The real net amount is usually a very long way from the number printed on that gross commission check.

 @ryan murdock

No offense but I think your missing my point.  While the flawed math in my example may not have considered the commission split the point is the agent is still netting the same amount of commission.  Would you sell 2 homes, with 2 avg size commission checks? You would be netting you the same commission.  

As for my flawed logic, my example is about the Realtor commission not the cash flow of an investor.  No Investor goes into a property knowing they are going to have a negative cash flow, unless they have another angle in play. Such as, redevelopment oppurtunity, appreciation, and or some other value added oppurtunity. Occasionally an Investor may purchase a bad property and things may not have worked outlike they planned but that is a risk an Investor's make.  What's at risk for the Realtor? 

 I feel there is not really a right answer to this situation. Anyone can operate their own business how ever they want.  If I was a realtor, I would feel like the OP deserves a better business partner (agent) considering the scenario he mentioned and his intentions.   But I don't see a difference, considering he purchased a property with him before. 

@Redgy Saint-Germain @Jay Hinrichs @Matthew Olszak @Russell Brazil The original poster stated he already bought a property with this agent for $252K at 2.5% that is a +-$6,000 commission check. The 2nd property was much less and would net him a $500 comission check. Thats $6,500 on 2 properties. Would you guys happily show and sell 2 properties that would net you 2 commissions checks for $3,250 each? Still netting you $6,500. This is pretty interesting discussion regarding Realtor Psychology. What's the difference in two scenarios? I can reapect his and your choice but the OP was not wrong to rely on him and feel sour about his response. Especially when this particular Agent does not seem to be adding value.

Sorry for all the typos and I ment you put them there. Anyone, know why the BP app in Andriod does not allow paragraphs? Anytime I try to enter a new paragraph, the post just truncates all the lines.