All Forum Posts by: Adam Aschoff

I’m interested to get some people’s thoughts on using the listing agent of a potential real estate investment property to also be your agent (dual agency). They know they will make the potential 6% commission from you AND can work in your favor to negotiate a better deal knowing their commission will be higher % wise than if the buyer went with their own real estate agent. I am a potential first time investor looking for best way to get in to first deal.

@Justin Thorpe

I certainly wish it would be that simple. Do you think everyone will take the vaccine? We can’t even get people to wear a mask at this point. Say 50% of people take it. Besides the fact that flu season is coming which will blur the line between COVID and the flu so hospitals will be overrun by both.

The vaccine is not going to bring back jobs quite so easily. People are working from home AND are more productive needing less labor. But the real people who will lose are the hourly workers making just over minimum. Those were the jobs that were lost. The people that were just scraping by.

Even after the vaccine is released and the market goes sky high only to realize the vaccine did jot save our economy will we see the major correction everyone is waiting for.

@Jonathan Bombaci

Hi John. Thanks for your consideration. I sent over the information please let me know your thoughts on our property!

@John Mocker

Awesome John, thanks for the insight! In looking at the numbers right now this may prove more difficult than I originally thought...

@Jonathan Bombaci

Our loan is conventional and we purchased in March of this year. $1700 is with taxes included. In just running it again, it looks like comps for rent in our area are $1850 for rent.

The problem is lack of equity in the house. We would stay local and most likely manage ourselves. The other option is to try and sell as the market here in Plymouth for a house that we bought for around $312k is very slim but we would want to try and recoup a lot of the money we already put in. The property however is move-in ready for a tenant so that’s ideal.

@Frank Hinck

I wish it was. That's what I would want to get into eventually. I see your point. Would it make sense to pay down the principle to lower the payment then I could use HELOC to purchase another property?

I have a unique situation. I purchased my first house outside of Boston and have a huge interest in starting a real estate business. I understand the 1 or 2% rule, 50% rule and am looking at how I can turn my house into a rental. With my family expanding we will need to look at upgrading our house but would like to turn this into a rental.

Now the numbers:

- our mortgage is $1,600 per month at 3.25%

- according to Zillow, we could rent for $2,400.

- I have some money set aside that I could pay down and refinance so our payments would be smaller

- Selling the property would recoup little, if any, money potentially even lose $

I am looking for some insight so any information you can give me would be greatly appreciated!

@Alex Keathley

We didn’t even get Dave Ramsey videos so you should consider yourself lucky!

@Theresa Harris

Don’t you want to keep the money for each property separate for tax purposes? Or do you have a business entity that you operate through that makes that easier?

@Jay C.

Hi Jay

What type of liquid assets do you keep your money in? That’s smart so you can move fast on some deals. What type of rentals do you look for?