All Forum Posts by: Sarah Lattanza

Indeed

The cash was a bit expensive, but for my first time it made a lot of sense to go with someone local. I don’t have all the numbers handy as it’s been filed away now for six months. Yes I have a crew that I typically work with because I’m also a real estate agent. I have different people that service different parts of the area. 

Investment Info:

Single-family residence fix & flip investment in Pittsburgh.

Purchase price: $65,000
Cash invested: $45,000
Sale price: $179,000

Marshall Shadeland

What made you interested in investing in this type of deal?

The deal had a great return.

How did you find this deal and how did you negotiate it?

Friend

How did you finance this deal?

Hard money, locally 100% loan and rehab.

How did you add value to the deal?

Real estate agent, designer, buyer

What was the outcome?

Sold in a week. Rave reviews.

Lessons learned? Challenges?

Hire all the workers, my time is more valuable.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just me!!

I once had a 3200 unit in Sacramento. CA though.....😉

Do you recommend your private money lender? Looking for one I can trust. Congrats! Looks great!

Originally posted by @Chris Puckett:

@Sarah Lattanza I wouldnt recommend it.  Why take on the extra responsibility of overseeing provisionals when you should be using that time to build your own business. If you do want to go that route i would stay away from the "major" brands that have a TON of provisionals.  You will spend 90% of your time trying to keep them from going to RE jail.  

 Fantastic advice. In fact I am looking at a firm that is only seasoned agents. However, you have a good point about taking my time away. Thanks for the comments.

Oh my, yes, I believe in doing business ethically! Thanks for the info. I'm thinking if I were to become a BIC for a local office brand. They are paying all those things (office, etc). So, managing the daily duties of the team would be the priority. So typical is all commission? Keep in mind, this is NC, I'm not talking about being an agent, broker, Realtor, I am that already. I'm talking about being a Broker in Charge of a firm. A little different here than SC I think? Thanks for the info. It all helps.

Originally posted by @Paris Beitel:

I watched a webinar by a famous author/investor on investing in small units. In it he said that you don't have to be a real estate agent to have access to the MLS. How is that possible? Agents pay money for the MLS as well as thousands for dues. Anyone know what he is talking about ?

Also, if you notice, several agent websites give you access to MLS through their website if you signup to get their newsletter. Not really a cool thing to do, but that is another way one can get MLS, for the most part. They can at least see the listings.

Hi all,

As you all know, being an agent in this industry "holds us to a higher standard", even for our own deals. Is anyone a current Broker in Charge in NC, and do you think switching to this role changes how you handle things? This may sound a little dumb to ask I guess, but I'm just wondering, how did your income change when you became a BIC and did all the new responsibilities keep you from moving forward in the investment world? Or perhaps it helped somehow? 

Additionally, anyone that can comment on the typical salary would be helpful as well. I have no idea what a BIC should make in this state and if it is all commission or some base. Any thoughts out there?

Thanks all.

So many great places for vacation rentals. Myrtle been hit hard by the past few years. I personally don't think it will bounce back very fast. I'd look at all your options in all places. If you want a vacation rental, try the Smoky Mountains, not just the beach. Personally, I like Bear Lake Reserve ( google it, awesome local). I know the Sales Manager over there and would be happy to get you a tour if your seriously looking. Or anyone else for that matter. Just be smart about the competition in the area. The more condos, the more competition. Go to the places you like and explore. Good luck.