All Forum Posts by: Rob Hayes

Good luck with getting started in the business and welcome to BP!   I bought my first investment property at the age of 24 and wish I would have started even younger...so I would definitely recommend that you start ASAP!!!

Gotta love BP when searching for some of the wackiest of terms (MTGLQ).    So, a colleague/client of mine has been eyeing this vacant property for nearly a year now.  Turns out it is also owned by MTGLQ.  I have sent them a correspondence and am just waiting to see if I hear anything back.   I wanted to refresh this thread...and curious if anyone has had any success in acquiring a property this way?

@George Skidis how are you determining how much the bonus is?  I love the idea to incentive the tenant to do these things!

I suppose I should have searched for the thread first...  but thank you for the help!

So it's that time a year again.  I'm curious what people's experience has been with sending your tenants holiday cards/gifts.      I probably haven't done this for 10 years now but I use to make a point of sending a card along with a gift card to Walmart ($20-$50).  Earlier this week a colleague of mine asked about this topic... and naturally I thought of you all!

Thank you for your input and HAPPY HOLIDAYS (and NO... I'm not going to send you a Walmart gift card!!!)

Put the families up at an indoor water park for a day or two. You'll be a hero!!!    I always do my best to use as open of communication as possible with my tenants.    Most of them are very reasonable people as long as you talk to them respectfully.   I find that this is a trait that many PMs horribly lack!

If you find one that you like @Jonathan Spitz let me know... they are pretty hard to come by. I have one that I've been using for a couple of years now. I'm not 100% confident that he's an expert in the REI world but my wife and I have been incredibly happy with his customer service, speed and cost. He is out of Lombard.

I completely agree with @Peter M. and his post about time and family.   There's no reason to sugar coat this... but I think it's a really bad idea for you to get a license.

1. Getting a license and keeping it is expensive... my guess is you will loose money

2.  Finding a managing broker to take you on will be the easy part!!!   Finding clients who want to work with a PT agent that is married with 5 kids and is doing his own deals will be the REALLY hard part.

3. The Board classes will teach you virtually nothing about being an investor

4. The difference between the full MLS and realtor.com, zillow.com, redfin.com is getting smaller and smaller every day.

5.  You mentioned you want to begin investing in RE... do you honestly think "representing" yourself in a RE transaction is the wisest thing to do?   I strongly believe that the right RE agent representing you will NET you wayyyyyy more money than you going and getting your license and you doing this on your own.

I hope I don't sound like a complete jerk!

I'm curious why the owner brought this deal to you some 2000 miles away?   If he's that motivated and it's that great of a deal why didn't he fire sale it a local investor that's already very familiar with the specific market?

I completely agree with @Ray Johnson.   I see people all the time spending dozens if not hundreds of hours trying to save a couple thousand dollars a year... when they could have invested that same amount of time and done 2 or 3 more deals.  "It's all about the net!"