All Forum Posts by: Terry Tokash
Terry Tokash has started 1 posts and replied 3 times.
Post: What are you doing about the incoming market change? (NAR Settlement)
- Posts 3
- Votes 4
I just looked at my brokers contract and there’s no way I’m signing it. The wording is in such a way as to lock me into that broker for the duration even if I don’t use him. Also worded such that commisssion is earned upon entering into a contract to buy, not at closing. A couple other things I took issue with as well. That may not be the intent, but lawyers don’t care what intent there was. It’s supposedly the standard form the national association of realtors put out so everyone will use it. I’ll see if he’s willing to change it and I’ll look around, but as of right now, it looks like I may be just going the RE lawyer route to purchase. Read your contract carefully and I hope y’all’s are worded better than what I just saw.
Post: Almost 2 years in and haven't made any money (via cashflow)
- Posts 3
- Votes 4
Quote from @Bruce Woodruff:
Quote from @Nicholas L.:
thanks for the transparency. i don't know if you should sell or not, but what I do know is: you didn't do "horrendous."
So true! At least you got out there and did something, unlike most people. We've all had 'less than great' properties and deals.
Your investment is a sunk cost at this point. If someone came to you and offered this property or the cash you could get from it, which would you take. The answer probably depends on what rate of return you could get. Run your projections. Would the market return you more? Another property? Or is this one likely the best? If it’s not this one, you should sell and reinvest into something with a better return.
Post: Should I list on 4th of July weekend or wait?
- Posts 3
- Votes 4
Should I list a property over The Weeknd of 7/4 or wait until the following weekend? More people are off, but will they be busy and the listing get lost in the sauce of festivities?