All Forum Posts by: Dorothy York

Hi @Evan Spicer

Welcome to BP. Looks like you guys all bring something to the table, which I think is essential for a business partnership to work. To you question as to whether you should receive greater compensation for your work that increases the profit for the group down the line, I would say you should think about it in terms of the team. Considering that your realtor is sacrificing the commission that he should normally earn for selling properties, and the businessman could invest his money with any number of flippers and hold on to a much larger piece of the pie; you might not want to try to squeeze more out of the deal than is feasible.

Good point @David Krulac

One of my investors put in an offer and after a couple of counters, he was at 25% below asking and they were at 16% below asking. The buyer would not budge, so Fannie rejected the offer. The house was still on the market 1.5 weeks later and the buyer decided he would go for the last offer Fannie made. But just for laughs we resubmitted his offer at 25% below asking price and they just accepted it, no counters. So don't get emotionally attached and play the game.

@Aly W. Funny you should mention that about the lease. I just got a note from one of my tenants with their rent asking for another copy of the lease. Of course this is because I had to explain to them that they would be paying for the toilet repair when one of the kids put the toilet paper holder down the drain and stopped it up.

Congratulations on getting your license. Welcome to the team of real estate professionals.

I will make an offer of sorts. There is a multi-property deal I've been working on putting together, but need and investor to join me in the deal. I know the right person, so I will make an offer to them to join me in this endeavor.

I don't think it should have that great an impact on landlords since the actual eviction convictions will still be there. Also, in addition to using other evaluation criteria, I require prior landlord reference before renting. So if they have no rental history or bad rental history, I pass on the candidate.

@Dawn Anastasi

Great story. As we are both in Milwaukee, I'd love if we could meet up because I'd like to hear more about your partnership terms and structure. I have some out of state folks that would be interested in partnering with me on some deals (they have property here that I manager now), and have been thinking about how the terms should be done. I'm not sure how to send a request for connection on this forum... maybe you could help me with that too.

Congratulations on your first deal, and you're right. It won't all be perfect, but you have to start someplace. That first deal is always exciting and smart move on the PM. I am placing my properties with a PM to free up my time to work more deals instead of managing properties.

Congratulations on achieving the duplexes. From a numbers standpoint, it sounds like a pretty good deal. That's a lot to accomplish in just 5-months.

Hi Minnie,

Welcome. I just joined the site yesterday and have been unable to do anything else. There is a lot of information shared here. I already have investment properties and work with a lot of investors, but am still learning so many things. Now that you are here, explore. I'm sure you will find some very useful info.