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All Forum Posts by: Sharon Powell

Sharon Powell has started 12 posts and replied 142 times.

Suzy, your frustration is very understandable. When I first decided to invest, I knew nothing about real estate and joined FortuneBuilders. There was plenty of sticker shock for sure, and there’s no denying that it’s expensive. Having said that, it’s a great program with some incredible time-saving tools that I haven’t seen anywhere else, in-person workshops that give you time to talk through details and personal applications, not just the investing overview you received, people who are a phone call away to talk you through deals when you get stuck, and a great network of like-minded people. I don’t mean to sound like a commercial..I just get tired of the guru-bashing. The way I see it is that if someone is able to take the time to pull information for themselves, learn along the way, and build their business slowly, then that’s great. And if someone wants to fast-track and is able to invest in a proven business model that will help them build systems, fly out of the starting gate, and scale quickly, then this is a great way for them to go. There’s a place for both strategies in the world. I wish you every success in your investing and hope you get a ton out of BP. :)

Post: Needing help with first investment property

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
Dave Mukherjee Two ways to find properties when you’re starting out are to look for local facebook groups... fsbo, wholesaling, marketplace etc. Zillow, trulia, etc also can be helpful, but don’t rely on them to be accurate, because they aren’t updated as quickly as MLS. And the second way to find deals while you’re learning the areas is to work with a realtor. They can point you in the right direction to learn about certain neighborhoods, send you up to date listings, and many times, they have access to information on properties off-market or ones coming up.

Post: Newbie from Houston/Katy, Texas

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
Welcome! This one is bigger pockets peeps. https://m.facebook.com/groups/biginvestorskaty/ You can also check out Houston REIA and all the local investor groups online to see which ones fit your investing strategies. https://www.meetup.com/topics/real-estate-investors/us/tx/katy/

Post: Realtors...why don't they answer their phones???

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
I third the ‘customer service is dead’ concept that Mindy Jensen suggested, and so I’ve made above and beyond customer service the foundation of my own business. I will say- and this is just me- that if you need a fast response, to text. I won’t take calls or check voice mail if I’m with a client- that’s part of my customer service model, but I can see a text and answer it discreetly nearly anytime.

Post: New realtor having a hard time getting listings

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
I believe what will set you apart in the long run is your customer service mindset. Add The Go-Giver and Mr Schmooze to your reading list. When your focus is on how you can best serve each client before, during, and long after the transaction, the money will take care of itself. As far as finding buyers, it starts with your sphere of influence. Ask everyone you know. Visit builder reps. Put your cards on community boards and join local social media groups for things you enjoy (dogs, hiking, etc). Like the others have said, it’s networking and it really does take time to build an empire. People do business with people they know, like, and trust. Be that person, and above all, be consistent with your follow up. This isn’t my favorite solution, but if you have the money and desire, you could buy into Realtor.com just to get a jumpstart. Good luck!

Post: Newbie/Active Duty Military member in SA, TX

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
Welcome to BP, and this AF spouse thanks both you and your family for your service. Deciding your strategy is a very personal decision, but there is a wealth of knowledge in this community. When we came to SA, we bought, then kept our home as a rental when we PCS’d and that worked well for us.

Post: How do you vet your tenants?

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
I use Landlordstation.com to screen, check social media/online presence, call employers/last landlords, and this info I kept from another post on BP a while back. I think it was from James Wise... please correct me if you recognize it and it’s someone else’s system. “Rental process Here's what I did after playing the role of the Maytag repairman, waiting for someone to show up for their appointment and they never do.  I set up a system where I can filter out most people before a showing.  I used to like to have a lot of showings scheduled, but I quickly came to realize that tenant placement is more about quality rather than quantity. It all starts with my ad, within which are several questions I request be answered in their response to my ad.  Here they are: 1.) Your first and last name, email address and phone number
2.) Total number of people that would occupy the apartment
3.) Proposed pets (size/breeds)
4.) Monthly pre-tax income for household 
5.) Date you wish to move in 6.) Do you currently have enough funds to pay first month’s rent, last month’s rent, and a security deposit? Next, here's a canned email response I use for everyone who answers my ad with the aforementioned questions answered.  If they don't answer my questions, I know they have not read the ad and are just clicking and "tire kicking" or they lack the intellectual focus for me to have any business relationship with them.   Anyhoo - here is the email response: Thank you for your interest. We have a minimum income requirement to qualify for this unit (3 times monthly rent); based on your email, it appears you meet those qualifications. Regarding pets, we allow cats and most dog breeds except for the following: • -any breeds/mixes known under common parlance as “Pit Bull” • -Rottweiler • -Doberman Pinscher • -German Shepherd • -Alaskan Malamute a.k.a “Husky” • -Chow Chow • -Great Dane • -St. Bernard • -Akita • -Wolf hybrids Unfortunately, these are prohibited for insurance reasons. We require a one-time nonrefundable pet fee of $200 (per pet) that is good for your entire length of residency. We do not charge any “pet rent” beyond this initial fee. We typically like to meet your pets at some point in the process, too. Our tenants’ safety and the peaceful enjoyment of their home is important to us, so we do a credit/criminal background check on all applicants aged 18+. Big concerns are bankruptcies/repossessions/evictions and crimes against people/property. If you don't foresee any major stumbling blocks (or, if you do, and would like to discuss confidentially - we can certainly do that), I'd be happy to set up a showing for you. Let me know what you think. As a matter of information, smoking is prohibited inside our rental units. If you decide that the apartment would meet your needs and wish to proceed with the application process, a “deposit to hold” binder equal to a month’s rent would need to be collected at that time. This holds the unit for 5 to 7 days until the lease signing, and once the rental agreement is signed this becomes the first month's rent. At the lease signing, you will need to put down another $1650, which will be the security deposit ($825) and last month's rent ($825). So, the total move-in costs (not including pet fees, if applicable) would be $2475, all paid prior to lease signing. Also, we would need copies of the two most recent pay stubs and photo ID for all applicants aged 18+ (I can scan at the showing) to begin the verification process, which only takes a few days. Since choosing a place to live is a very personal decision, please feel free to do a “drive by” of the property, located at 123 Main St, so you can get a “feel” for the neighborhood. (I will ask that, out of respect for our current tenants’ security and privacy, to please wait until your showing appointment before walking the property.) If everything above is agreeable to you, let me know your availability and I'd be happy to take you through the apartment. Thank you, and I look forward to meeting you at the showing! Note how I reiterate the qualifying criteria as well as itemizing what the move-in costs will be.  I also suggest a drive-by so they are not unpleasantly surprised by the neighborhood when they to the showing, and just keep on driving by anonymously as I wait outside.  This email gives people yet another opportunity to self-select out of the application process based on my expectations and criteria before an actual showing in scheduled. If they do request a showing, I send them this email: Hi Sally, How about Thursday at 7 pm? If that works for you, please reply to this email to confirm and I will add you to my showing appointment book. Also, as a means of courtesy to both our busy schedules, please confirm via text or phone call at least 2 hours prior on the day of the showing to my cell phone (area code and number). I’ve also attached our rental application. I will have hard copies at the showing, but if you print and fill them out prior to the showing, this would save us both some time should you want to expedite your application in the process. I look forward to meeting you on Thursday! If they have not confirmed an hour prior to their appointment, I send this text to their phone (which was required as part of their contact information I required in the response to my ad): As I had requested in my email, you have not yet confirmed your apartment showing for this evening, scheduled for 7:00pm. If I don’t hear from you in the next 10 minutes, I will assume you aren’t attending and I will move on to my next appointment. Using this system as dramatically reduced any wasted time I used to endure as part of the showing process. I have all of these paragraphs set up so I just cut and paste as I get responses. (I have several versions based on how they answer the initial questions, but it's all at my fingertips for clicking and dragging into a response.) Hope this helps!  It really has helped me.”
Answer to your question is I see now that the 6 months you mentioned was just a scenario. Sounds better for you to keep it in-house. Is this short enough? :)
If you’re looking for minimal risk, I would suggest choosing properties near the bases. If you’re looking for sooner rather than later, now is the perfect time to get something under contract, because PCS season is nearly here and people moving here this summer are beginning to look. My personal strategy isn’t the most popular one, but it works for me. I’d rather pay more for a newer home, not have to worry about deferred maintenance, and then target military renters for several reasons. -There is some recourse if anything were to go wrong (their supervisor would get involved) -you can see what housing allowance is for different ranks and know who will probably be interested in your home -and if it’s a good home, chances are high that they could help find your next renter when they PCS out -no property manager is really needed because I do automatic rent payments, and maintenance isn’t much of an issue It depends on what type of properties you want, but your money will likely go farther in SA than Austin, and probably NB and Canyon Lake as well.

Post: Offer Amount, with Owner or Agent

Sharon PowellPosted
  • Realtor
  • La Vernia, TX
  • Posts 153
  • Votes 124
Offer, offer, offer. The worst they can do is say no. If you’re getting a lot of no’s (which you will as an investor!), look at the pattern and learn from it... figure out what the market is demanding and make adjustments.