All Forum Posts by: Bob Collett

Hey Caden

Since you are posting in an “investor” platform… as an agent myself, I will say the best way to get a couple of buyers is to have and work a listing. The best way to get a listing is to buy a house to fix and flip. Not enough agents believe in themselves enough to actually invest in real estate themselves.

Someone else posted “put your license with a property management company”. This is great idea. As a property manager myself… I find that my clients typically want to either buy more properties or sell what they have. I typically don’t have time to work with investor buyers, so would be happy to refer out to a “buyers” agent.

Most brokers do not really understand property management, or want anything to do with it…  

Another related source of business is the rental market. A property management company always has rental properties to show. It could be a small but regular source of commissions.

Best of luck.

Bob

I am looking to make an investment in the Hendersonville area.  I would appreciate any thoughts you are willing to share.  I am active up north as a licensed agent and PM.  

Thanks

@Jennifer Lombardo I am living in Cleveland and do property management here, but I am looking to purchase a property in the Asheville-Hendsonville area. I would love to hear your thoughts on investing in the Hendersonville area... or other communities that you might suggest. Interestingly, I too have a condo on the west coast of Florida near Port Charlotte.

Curious... which suburb.

@Elena S.  I would not buy this property unless you are an expert in foundation issues (you are not), or unless your contractor is an expert and also a long time, trusted friend.  If a wall is bowed... the entire house could come down.  Move on to the next deal.

Sorry

Bob

@David Young... Wow!  The residential property disclosure is required by law for all real estate transactions in Ohio... with a few exceptions (attorneys handling an estate sale is really the only exemption, aside from sheriff sales and foreclosures).  I might even guess that the listing "agent" is not even licensed.  If he goes around refusing to give RPDF... he will probably not be licensed for long.  When the Broker gets audited... the entire Brokerage could go down for this type of violation. 

There must be more to the story.  

@Jared Smith ... I assume you mean the Tremont neighborhood in Cleveland.  If so, I can recommend a pest control guy for bugs and rodents. PM me. Whomever you use, make sure you get someone who will seal up the holes and points of entry.  Also, inspect the tenant units.  Kitchen grease is "super food" for mice.  You will never control them if the tenants leave out pet food, uncleaned dishes in the sink, and grease in a pan on the stove.

In most states, a property manager is typically an independent contractor, billed out as an expense, and is required (in most states) to be a licensed real estate agent.  However, if you hire an individual and pay them w-2 wages, part time or full time; then it is an employee who does not need to be a licensed real estate agent.  Example: Ohio & Florida.

@Bonnie Low these are good areas to own rental properties. Yes, I am PM

Bob

@Geoff Pettis it seems that the solution may be in your hands… literally. Perhaps tell them that you need to be allowed to fully manage the property or respectfully resign. They can expand your decision making authority. If they don’t trust you, then they should find someone they do trust.

In this case you take over all decision making, except perhaps the decision to sell. Make sure you have a good PM Agreement that defines your role.

Or just step down. This job is hard enough without owners’ disagreements making it impossible. 

Just food for thought 

Bob