All Forum Posts by: Marcus Auerbach

@Christian Benitez it depends on your target audience. It's actually very simple: you have to be where they are looking. We play in the upper medium segement and get the most/best quality leads from postlets, now zillow - which also posts on hotpas and trulia. Last time I checked our mix was about 45% Zillow, 30% Trulia and the rest between hotpads and CL. CL tends to yield more lower end tenants. Also be sure that your marketing matches your property and your target audience in termes of quality, style and appeal. A Realtor might be a good choice for a high end property and if you have someone who specializes in rentals and has access to your clients - otherwise probably not your first choice.

@Laura Scherr Russel is right - top performers are too busy to mentor. Why would they take time when they are already struggle to make time for their family? 

But turn that on it's head, it's also an opportunity - just offer to help out. Just ask if there is anything you can do, run errands, do research, whatever they need and you can do.

@Selena Dunn I belive most banks will have policy in place to not allow investors to make offers before the property is listed on MLS to assure they get the highest amount possible on the open market. Thats what I would do if I would be a bank. What I dont understand is the complete lack of urgency banks seem to have to get these liabilities liqidated and off their books. Maybe someone who has work at a bank can provide some insights here..

@Matt Ward when you get to Austria say hi to my old home! 

This question I would definitley answer with a yes, unless you are investing in real estate based paper assets like a REIT. I have bought a property for a good old firend who lives back in Austria and looking back at the last three years there were several incients where a small issue can become a big problem if untreated and without boots on the ground. Do you have a good friend in Georgia who is a go-getter and you can trust. Even if he/she is not in real estate just having someone on the ground you trust makes things possible.

Mat, I think you have found the right place for your question. There is no other platform on the Internet where you will find that much support from the comunity on your RE plans. Most people here will help you every way they can and the only thing they will ever ask in return is to share your experience. But at the same time I would encourage you to be careful and do your duediligabce, you don't want to be taken for a ride, and it may happen even without bad intentions.

I think you should try to read a lot here and make up your mind about what specifically you are looking for. Most passive investors end up with a larger mutifamily syndication, because it's scalable and most of them are run professionally. But it's really up to you, the amount you are looking to spend and for how long you want to be invested.

You should be able to yield anywhere between 6 and 15% as a passive investment depending on the criteria i have mentoned before. A good deal will also have the potential for some equity gain. If you want returns on the higher end expect to be a little bit more involved and also carry a higher risk. If you change your mind and want to be involved a little bit more you can also expect higher returns, perhaps in the twenties. You are definitely in the right place to find out what it would take. Good luck!

Don't let anyone else tell you what your strategy is. Every strategy has pros and cons and I am sure your banker is right, but he is not thinking about the aquisition or anything else you have to consider when you look at the big picture.

@Ronald Washington try this, BP has it's own forum for wholesaling - https://www.biggerpockets.com/forums/93-wholesalin...

@Account Closed I used Wix (frankly just because Brandon Turner likes it and I did not have the time to investigate any other sites) It took me a good Sunday morning to put the site together and get it online, you can check it out at www.bluedanubeproperties.com

I found it pretty easy to use. I would not wory about the design too much. Go with what you like, you can always change it, but at least you have something online.

@Tyler Dillenburg I would just call the larger local brokers and ask for an agent who has experience working with investors. Usually the receptionist will know and can tell you.

But, also ask yourself: are you an agent friendly investor? After broker split an agent typically gets to keep about 1 - 1.5% of the purchase price in commission and that's before expenses and tax.  The math works on a 300k home, but try that math on a 30k rental and ask yourself how much you would do for that..

@Arnie Guida Do you use the lease from Legal Blank? I don't think it has a provision about keys, I'd have to look, but it is basically the same situation as if the tenant would let someone in. The lease states very clearly they are responsible for their guests actions. Seems like there is a high level of trust between the tenant and your visitor. 

I would be more worried about having an illegal resident, than about the key. What could happen is that your tenant decides to move out one day and the guest stays. Then you have a new tenant that has not been screened, approved and even worse, you don't even have a written lease. Good luck with explaining that to a judge!!  

There is specific language for guests that you can enforce.