All Forum Posts by: Richard Martin

Ed- I know many here use Zillow or other sources for Comps. I have suggested it before but why not hire a Realtor to run the Comps. When I say hire I mean hire pay them a fair hourly wage or a per CMA. Realtors have a new tool that allows them to do it even quicker than the past. So even if you are buying properties away from their home area they can now help you out wherever the property is anywhere in the country. Treat the Realtor like you would any other contractor that you want on your team.

Tommy- Why not hire a Realtor to do the search for you. When I say hire I mean hire. Pay them on a per search basis.

Similar to what the others said. Talk to him. It sounds like you are getting discount service for the discount commission and this is not what you expected or want. Since he seems to know how to sell a house there is a misunderstanding here. If he doesn't correct the situation immediately then fire him. It's his job to know what you want and to explain what he will and won't do.

Chootar: Suggest you go back to your Realtor. They should have them in their forms library. I give them to my buyers all the time. In California I can then ask for advise from our legal hotline if my client has any question I can't answer.

Hi Mitch: You should check out IPE. It's a very hard wood from Brazil if I understand it right. As I am told it does not need to be treated. It is so hard you need to drill the holes for screws. Yes it is more expensive but this is for your home and your deck doesn't llok too big. I find redwood to be more work than I want to do. Are you really going to prepare and restain every couple of years? I am not a fan of the composites either. Maybe there has been some great improvments in durability but have you seen them when they are 5,6,7 years old? I was appalled at one I saw a couple of months ago. Leaves had stained it and weather had discolored it.

I agree with Scott and Joel. Sell it. It's Mom's house and you will always be tied to it emotionally. If your Realtor says it's not worth what is owed then come back and ask the forum again. Best wishes.

Many of my tenants don't have checking accounts. I have all tenants deposit their rent directly into my checking account. I sell this to them that they get a receipt from the bank confirming date of deposit. Their rent is due on the 1st and late if not received by the 5th. If the bank is closed on the 5th for a Sunday or holiday I give them until the next business day. I have been doing this for 4 years now with no problems. My tenants love it. I love it.

Ryan: Sounds like you are doing many things right. Let me add my two cents to this discussion.

Consider having three jobs.

1. Get your real estate license. As a bartender you know how to connect with people. You know how to treat people. What you learn to get your license won't be very helpful but if you join a firm that educates you about the market you are ahead. Use your access to scour the MLS for deals you could be interested in. See what others are paying. Use your key to access properties often even when pending. Pay attention and you will know what is really happening in your market.
2. Be a great bartender. Work someplace where you get a chance to meet local people, not tourists. Tell everyone you meet that you are a Realtor but with the market the way it is you need two jobs. Ask them for their name and email and phone number. Keep in touch with them. Your real estate business will grow.
3. Real estate investor. You now are seeing the industry from the inside. You will soon learn who the good lenders are, which contractors to use, which inspectors to use, where to get the best price on carpet. You will learn this from other realtors and your clients. Always remember this is your primary job. This is where you can make money.

Like the others said sell you condo.

I have had real good luck with Sec 8. In Salinas CA they are my preferred tenants. That said you will hear a lot of horror stories. I am beginning to think that we can not generalize. In Salinas it takes 2+ years to get a voucher. Once they get one they just don't want to do anything to lose it. Again in our area they are treated as any other tenant. They have no more rights to a non-Sec 8. There is an annual inspection but that is fine. You do need to maintain the unit but that is fine. I have units in nice areas and in gangland but I follow all the rules and expect them to follow them as well. I visit them every three months or so. If I could I would have 100% Sec 8.

Hi Jason- Absolutely show the house before its completed. Now if its a high end house my answer would be different but I don't suspect that is the case.

I tell my workers to let people in when they are there. Have some flyers with information on the counter.

Now about showing before you own. How can you do this. Who gave you a key and permission? Don't go there as it's not yours. Unless you are a Realtor and the house is on the mls you would likely be trespassing. I know there is frequently an open window or door. But stay away from this one.

Good luck.