All Forum Posts by: Ryan Bakerian

Quote from @Daniel McDonald:

It's amazing how many things you can do to be a successful Agent, but there are also a ton of things that are a total waste of time. 

Looking back at your first year, what do you wish you DIDN'T do? Or spend so much time on? 

 17 Years in, the space is much different now than it was. WAY too many Agents who are unfprofessional, not trained or mentored properly and just doing this part time to write contracts without seeing homes. 

I wouldn't spend so much money on Zillow zip codes. That used to be a good place to find good buyers but now it does not seem that way especially with how hard it is for the sub 300k buyers. 

Quote from @Bruce Woodruff:

We are living in an age of scams.....it's a full time job just being vigilant to all the crap going on....

 Agreed. I feel like I spend a lot of time just weeding through bad tenant apps and fake docs. 

I heard about these but never had one yet. I suppose you could call the employer directly to verify? If you can't get anyone its probably a good guess its fake. 

Quote from @Alecia Loveless:

@Nicholas D'Andrea I use Facebook Marketplace and generate a ton of inquiries. However expect a significant decrease in the number of people that follow through and even less that will come to look at it.

Recently my market has gotten much looser with more rentals being available. I’ve been trying to rent a 1/1 for about 1.5 months but I expect a premium price because it’s a gorgeous apartment and the other tenants are paying a lot.

You can likely expect the rental process to take longer than it did even just 3-4 months ago.

I’d stay the course especially if it’s a nice unit. I’d rather get the right tenants who want and appreciate the unit as opposed to lowering the price and just getting any Tom, Dick, or Harry.

I also recently listed an apartment on Facebook. The amount of unqualified, or people who don't even bother to read the ad is insane. I think they just hit every is this available button hoping that someone bites. Most have pets, I say no pets.. most have them smoking weed in their profiles and my listings say no smoking. It's insane. Facebook is the new craigslist. 

Tampa seems like a really good market, I'd want to know how bad insurance is there however. 

It's no different than what I deal with I think with new Realtors thinking real estate sales is the "get rich make 100K" your first year game. I get 5 DM's a week asking for help and tips when I have been doing this for 17 years. There is no shortcut in anything with real estate. 

Good stuff Gino! I haven't graduated to the 100+ unit apartments yet but I hope to be there someday. I really like the small apartment market 5-8 unit buildings. They seem harder to find however. 

Seller financing is a GREAT option if you can get a seller to agree to this (which is not easy). Investment rates in the 7.5%-8% range makes seller financing at lower %'s a no brainer. Potential ways to spread their tax burden over years as well. 

I'd say go DSCR on this one but watch the rates, last DSCR quote I saw was 9%+

Quote from @Ryan Bakerian:

Someone want to tell me where these magic B+ neighborhoods of 20-30% cash on cash return are in this current interest rate situation (or the last 20 months).

 Edit- I didn't realize this post was 9 years old.. that makes MORE sense. haha