All Forum Posts by: Sherry McQuage

Some great suggestions! My husband and I are under contract to buy a STR in Beaufort, NC. Will need some work to get it ready, and I'm collecting ideas to make it stand out. The suggestion to have kids utensils, a cooler, and beach chairs is great!

One item I can add from being a guest at a STR...keep up on your pest control (this includes mice/rat control). We rented a STR in Hawaii and ended up buying rat traps because "that area is know for rodents". The owner/manager has been very responsive about calling an exterminator, but cleaning the kitchen counter of rat poo every morning is...memorable.

You're spot on about getting a good cleaner; they can make or break the quality of the guest's stay.

Keep up the good suggestions, and thank you!

Sounds like you’re learning, that’s great! Learn before you earn.

Again, I am not trying to be “mean”, just keep in mind that you don’t know everything the seller is going through…from your side of the table this may look like an “easy deal” or a no brainer good deal the seller should jump on…seldom is this true.

You probably won’t ever know what the seller is dealing with (could be multiple sellers, family issues, health problems with a loved one, and a hundred other things). They might also be a different personality type than you. Some people make quick decisions based on a few bits of information; others take more time and want way more information before deciding.

Neither personality type is good or bad…just different. That might be what is happening here…

The good news is that you are open minded to trying to buy a property, and are happy to learn (even if this one doesn’t pan out). Keep listening and learning, and please continue to let us know how things turn out.

Oh, and if you don’t get to buy this property, you can (after the fact) ask the agent (politely and respectfully) why they think your offer was not the successful offer. You will learn something, and you might be memorable to the agent if another suitable property comes to the agent’s attention.

Real estate investing is a marathon, not a sprint. You are doing fine.

Hello Jennifer,

I have probably driven by your house, as I live not far from there.  Would love to hear more about your real estate journey!

Warm Regards,

Sherry

Hello,

I'm not in Pennsylvania, yet I've seen this type of thing before.  The seller might trust the realtor more than a stranger that walked up at the job site.  Don't know if they have a previous business relationship or not.  

Regardless, we're all in real estate to make money, and to serve others.  As an investor, your primary goal is probably to buy at the lowest price (you make your money when you buy at below market value), fix it up, and either hold or sell/flip.

The seller might realize they "don't know what they don't know"....in general, investors sometimes come across as "transactional" (they ran the numbers, and just want a yes or no from the seller).  Sounds like this seller wants someone who will get to know him, HELP him, PROTECT him from aggressive buyers/investors.  Or, there could be some other reason that you may never know.

You might not get this deal. You might talk with the realtor and decide the numbers don't work for you. You might talk with the realtor and feel "pushed"....like the seller probably already felt when you approached him (maybe?☺️)...you might talk with the realtor and it goes on the MLS and it sells to someone else....or it might sit on the MLS for a while and you eventually get it.

My point is, as a realtor and investor myself, put yourself in the other person's shoes...they don't want to feel "pushed" or like someone is trying to take advantage of them.  You might be offering a generous amount (I have not seen the property or run the comps).

Real estate is a relationship business.  My advice is to do as the seller instructed and talk to the realtor.  The more you push, the less progress you'll make is what I have found.

You seem to know what number you need to pay in order for this to work for you.  That's good.  The more deals you do, the more you'll learn.  Even though the seller may not have signed yet with the realtor, evidently he trusts the realtor more than he trusts you.  Can't push the seller in order to "get what you want"...that just proves the seller does need the agent to protect him from getting taken advantage of.

I'm not trying to be a "butt head" to you, just giving you my honest opinion.  If you went to a car dealership to look at cars, would you want a salesman trying to push you into buying by offering you 3 options? 

Get to know the agent, be friendly and professional...if the property goes on the market and doesn't sell for a while, that agent will probably call you back.

You might want to send out letters/mail campaign to find your own off market deals.  

Basically, the seller told you to communicate with his agent (not to contact him directly), so please do that.  I don't think you're going to change the person's mind by being aggressive.

Yes, money is important...but it's not the only thing.  People want to be heard and understood, not confronted by an aggressive investor...you can only control how you react to what happens.  However this goes, learn from it and you'll be better equipped when you find the next deal.

Sometimes, when we don't get to buy a property that we really want to, it turns out to be a blessing. Besides, if the real estate agent is honest and good, be nice and professional with them...they might come across a "deal" that wouldn't work for them to list and tell you about it.  

Best to you!  Would love to hear how this turns out.

This post caught my attention....sounds intriguing!  I don't have experience renting to traveling nurses.  There is a hospital (First Health Moore Regional) near my location; I would think traveling nurses would want somewhere safe, quiet, and not too far away (easy drive) from the hospital they're working at.  

Conversely, some nurses might want to "get away" from where they're working and drive up to 30 minutes away in order to enjoy a more rural, quieter rental.

Safety, furnished, and ease of getting to/from work, closeness of restaurants, and "not like a hotel" types of properties are what I would look for in a rental.

Would love to hear more about your real estate journey as it progresses!

Hello!

In Pinehurst NC, known for golf and the US Open, we do have some STR that are often medium term...during the winter months when golf is not as enjoyable, we get medium term renters. Often, it's a soldier from nearby Ft Liberty that needs a place for a few months. Sometimes, people want to move to the area and rent in order to get a feel for what each area offers. There's limited STR in Pinehurst; with VRBO and AIRBNB it seems easier for someone to "scout out" what a property is like, versus looking in other rental (longer term) sites.

I hope this helps!

Hello Rachel,

I had been a stay at home mom, then went back to work when my youngest started Kindergarten.  Now, my kids are 12, 15, and 15 (twins), and I'm an active real estate agent in Pinehurst, NC.  Would love to connect and learn/share with other moms!

My husband and I have fixed and flipped one property about 3 years ago, and are looking for one to fix and rent out (and use for vacations) at the NC coast.  I love to learn and share with others to improve their real estate journey.  Would be delighted to join with other moms to connect!

In my part of NC, the MLSs are writing rules to ban wholesalers from listing a property with an agent.  I think wholesaling started out as someone exploiting a "blind hole" in the existing real estate process....eventually, enough people felt they got scammed and made some noise.

The handful number of deals I listed from a wholesaler were enough to convince me that I don't want to list a property brought by a wholesaler...they don't yet own the property, and they try to make money off the ignorance of the "owner of record".  With the expansive reach of online real estate data, more people can see more details about a property. 

At one time, wholesaling probably brought some value to some people.  Now, I think you need to figure out a different way to make money.  The market has changed; the amount of information available online has exploded.  "Improvise, Adapt, Overcome" has never been more advisable.

Best to you, and I hope this opinion helps in some way.  Maybe look around and see what "stumbling block" others are having and create a solution for that.  

Gave me a good laugh!  Unfortunately, sometimes people are ignorant of their ignorance.

 Good point about after August 17 it will be harder to start/continue in this business.  New agents in my office generally need 1-3 years experience (full time) to have the confidence to ask for a fair commission.  Sometimes buyers don't realize all the houses a buyer agent had to preview (in previous deals, and just agent walkthroughs) to get the neighborhood vibe and trend...numbers and data don't tell the whole truth.

I hope that after a year or two of the new rules enough buyers (who got burned) will see that having someone experienced represent and protect their interests is a darned great idea.  Yes, the good ones make it look easy...

Thankfully, I have always been constantly learning and improving my skills so I can prevent problems for my clients.  "You get what you pay for" is true.