All Forum Posts by: Kyle J.

Why don't you ask your current agent? I'm sure he/she would/should know the answer to this.

Wow. I'm guessing he doesn't want to sell.

Lynn M. Thanks -- it certainly sounds like it's done differently in different areas. That's interesting. I know I wouldn't want to sign a blanket contract either which covers any real estate I purchase in the following few months.

I recently met with a well-known realtor in my area and wanted to work with her. She sounded eager to work with me too, but then after that first meeting I could NEVER get ahold of her, get her to find me any properties, or even get her to show me properties that I found. I ultimately went with another agent (who was great), and bought a house within a few weeks. If I would have had a blanket agreement with the first agent, it sounds like she could have made a claim for part of the commission for the house I ultimately bought without ANY help from her. I would have fought that every step of the way.

J Scott I just looked at the most recent purchase agreement I signed for the last house I bought, and the only thing on there where my agent is even listed is under a section titled "Real Estate Brokers" where the listing agent agrees to pay my agent (buyer's agent) a specified amount out of the proceeds. However, that is merely an agreement between the two agents. No where on there, or anywhere else, did I sign anything with my agent agreeing that he was my exclusive agent (or agreeing to anything else for that matter).

In fact, like I stated earlier, I've never signed anything with any buyer's agent I've worked with. And I've worked with a fair number from different offices/companies. That's why I was wondering if maybe it was a regional thing that they do in some areas and not others since it sounded like the original poster did sign something based on his post.

Interesting, I have worked with, and bought houses through, a number if agents. However, I have never signed anything with any of them. As a seller, yes. But as a buyer, no. Maybe that's a regional thing.

Jared - Did you sign anything with the original agent? If so, like Jon said, check your paperwork. If not, you might want to include the original agent who showed you the property in the interest of "doing the right thing", but I don't see how there's any legal obligation to do so. At least not on your part.

As others have mentioned, it depends on your comfort level. Personally, I would do it. The equity in your house is currently just "dead equity" and not earning you any money at all. You could pull that equity (money) out and use it to invest and make a good return/passive income. Plus you should be able to get a low rate and the interest would be tax deductible.

I just did a cash-out refi on one of my paid off rentals and bought another house with it, did a complete remodel over the past 2 weeks, and actually rented it this morning (after being advertised for only 3 days). It couldn't have went any better.

I would never use a contractor who didn't answer or return my calls BEFORE he got my business. You can bet he'll be even less responsive after you've agreed to do business with him.

Jake Kucheck In most of California, certainly in my area (northern CA) and in your area too, you can't really just "convert" a tenant to Section 8. First, the tenant has to be the one to apply for a voucher. The landlord can't do it for them. Second, the application/acceptance process is extremely long. Often it takes years to be accepted and get on the program. But probably most importantly, in most areas (yours included), a person can't even currently apply to get on the program because the enrollement period is only opened at certain times, and currently it is not open.

I recently bought another SF (detached) house, and when I was looking for it I saw a LOT of half plexes for sale. The biggest concern I had is that you don't own/control the whole building.

What if the person who owns the other half doesn't care about his half and it gets run down, needs capital expenses (i.e. a roof, etc) that he isn't willing to pay for, or doesn't care who he rents to and puts the tenants from hell in there? All of that is going to impact a half plex a lot more than if it was a detached neighbor doing those same things.

The numbers you put up sound decent, but I'd also do your research on the other half plex and it's owner and occupants.

In my area, Craigslist is my number one way. However, I also drive the neighborhood looking for "for rent" signs since not all rentals make it onto Craigslist. If I see a sign, I always call and ask about the property, and sometimes even take a tour so I can see how the interior compares against mine.