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All Forum Posts by: Michael Stole

Michael Stole has started 70 posts and replied 208 times.

Post: Do relocation companies have their own real estate agents?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Do they hire real estate agents as their regular employees so they repeatedly use the same agents for their listings?

Post: Just moved to Ottawa, Canada

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Hi, BPers, I just moved to Ottawa Canada. Any agents or investors in this area?

I am looking for an apartment for myself, as well as investment opportunities. I plan to drive around this and next weekend. Which areas should I check?

BTW, it seems the condo market here does not qualify the 2% rule. According to my limited observation these days, a $200k condo can only rent for $1500 max.

Post: Does HUD take listing agents' suggestions on accepting an offer?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

I am wondering if HUD take listing agents' suggestions on whether to accept an offer or not. Any insider information will be appreciated.

Post: Quality control of a new construction

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks, folks. I also would like to know if I can put a inspection contingency in the contract, so if there is any problem found in the final inspection, I can force the builder to fix it or I can back out. Just like in a standard offer contact for buying a house.

Post: Quality control of a new construction

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Hello, folks. I am recently concern with quality control in building a new house. What could be measures of quality of a builder's work? And can I make the compensation contingent on these measures of quality in the contract? How to do that? Thanks.

Post: Moving to Ottawa

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

And will be there for at least 3 years. Is anyone from there? How is the real estate market over there? Look forward to networking with any real estate professionals over there.

Post: Pros and cons of condos

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Such problems as high HOA fee, delayed maintenance, and restricted rental rules, are problems only when you purchase one unit in a large condo.

When you can buy multiple units in a small condo, say 7 out of 10, then you can control the board of directors, and none of these problem exist, because every thing is now up to you.

Is this correct?

Post: Is the listing contract standard within a broker

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Thanks, J, it seems the contract is quite standard in each state.

Post: Is the listing contract standard within a broker

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

A broker usually owns several offices in different places. I am wondering whether different offices use different contract designed by themselves, or they are all using the same standard contract? Thanks for any information.

Post: Value of using an real estate agent in the deal?

Michael StolePosted
  • Real Estate Investor
  • Ottawa, Ontario
  • Posts 217
  • Votes 14

Hi, Craig, since you are a broker yourself, so I think you can do all these works yourself and most likely you can provide better services to yourself than the agent did. So why don't you do all these yourself, and represent yourself's best interest?

Oh, you wanna free yourself from the work, now I see......

Originally posted by Craig Grella:
I love Brian's study info. That must have been an interesting one to conduct.

I got my broker's license when many of my clients whom I had done financing for started to ask me to represent them with sellers. That way I acted as their broker too and got a piece of that commission. It was a smart and profitable play.

But for my own investments I always used a broker. Here's why it worked for me in my MF properties:

The broker was also an investor himself and had both owned and managed a few properties. he knew how to analyze deals and talk with sellers. He knew how to write a good contract and practically did all the work for me up to the point where i needed to do a final analysis and sign the offer docs. He also acted as manager for a few smaller properties and was all around a helpful guy.

If you can find an agent/broker like that, you will find alot of your time is freed up to do better things. Well worth the commission split.