All Forum Posts by: Shiv A.

All - thank you so much for your quick inputs. And I understand the points raised here. As an investor, it is hard to give away so much on commission when this is supposed to be a "as is" property with little to no showing. I agree, maybe the standards of agent service will not be as professional and efficient - but my question is - are there any creative ways I can work with the agent to work something out that also gives me a break? Also, any tips on FSBO if out of state?
Just trying to gather information and develop options so I can maximize return on the investment.

Again, thanks for the pointers here! Appreciate it.

Hi all - looking for recommendations for a seller agent who is well versed with real estate investing or has invetor portfolio. Also, looking for commission range between 1-3%. Thank you.

All - would love to get a PM recommendation in Detroit. I haven't seen a latest update on any past forums so asking here.

Appreciate it. Thanks.

Thanks, @Andrew Postell - thank you for your response, and you are so correct! Not only they forgot to tell me about it - they also kept forgetting that I had submitted all supporting docs and still kept asking for them later in the process. Such a strong relation to the type of company and team when they err on such simple things. Something to always watch out for!

All - we are getting two of our investment properties refinanced, and the mortgage company has offered us an attractive rate as part of their investors program. However, one of the requirements of this program is a "full appraisal " - which includes in-house photos as well. Has anyone had experience with this? We just found about it and I am little frustrated because now I have to coordinate times with the tenants.

Is this a common practice for refinancing? Would love some thoughts/suggestions here. 

Yeah, we have kept it around 5K because our premium becomes manageable then. Thanks. 

Hi Connor, these are some important questions that one tends to forget in a frenzy of buying a property. So, here is how we dealt with it. Out first property was a duplex too but one where both units had tenants. So during the buying process, here is what we asked the agent to get details on:

- current lease with the tenants (detailing whether one year renewals or month to month)

- any sort of agreement made with them  (on utilities, landscaping, etc)

- security deposit paid and how much for each tenant

Our first instinct with the property was to get it delivered vacant because one doesn't know what type of tenants we would be inheriting, and it also is an opportunity to get the property rented at current market rate. But, as you know there is a cost associated with vacancy etc So we agreed to get the property with tenants (when our agent did a showing, he met with the tenants so as to get a feel on the type they were and gave us an update on that). We had the tenants for about six month (they moved out on their own) and then we got the units rented at current market rate. While we had the old tenants, we ensured that we were very communicative with them and ensured we heard them and took care of anything.

Also, during closing, we had the security deposits credited to us as part of the closing costs. 

So, @Connor Kerr what you will see is that there are opinions on both end of the spectrum - do what feels right for you but make sure you understand the cost and benefit of taking either route. 

Hope this helps. Good luck!

I am still debating to go or to not go. Besides networking (which I am not very comfortable doing) - what are the other benefits of this conference (rather new(er) to the  BP community)? Do we have to attend all three days or could we pick a day or so? Thanks!

@Chinyere Orie sorta' late on this post, but what is the best way to get access to off market homes - drive by? or are there any contacts here in the BP community I can reach out to. thanks!

Just adding a follow up question here: is there a recommended deductible range for investment properties? Thanks.