All Forum Posts by: Amy Martini

@Steve Morris thank you! Join a local group like a REIA?

I’m a newbie, still looking for my first small multi family to purchase. Trying to set up systems in the meantime, and looking at lease agreements. Should I use the lease agreement provided on the BP website? Or have one drafted by an attorney?

Thank you Steve!! I was thinking along those same lines, but I never hear anyone talk about this situation, so that’s good to know this can be doable. 

As to your recommendation about taking the commission out of the seller proceeds, why couldn’t the commission just be put on the buyer’s side of the closing statement? (Like as additional money to bring to the table.) 

Also, could I contact with a couple follow up questions? Email or something? Thanks again! 

Jerryll -

I started driving for dollars because of the hot market we've been in. I've been looking for a property for a year using the MLS primarily, but the number of listings on market are very low, and when something does come on the market, it goes pending within a day or two. A lot of times I haven't even gotten to see the house yet, or I get beat out in multiple offers. The last one had 17 offers on! So that's when I decided to try to find a property OFF market, in hopes that I'll find something I can bid on without the competition.


I want to try written letters because I want it to feel personal. We bought our primary residence 2 years ago, was having the same issues with many multiple offer situations, I wrote 25 written letters, got 2 responses, and bought the one we now own. So I’m hoping that process could work again.

What do you think? Any other ideas? Thanks for responding!

Amy

Thank you Mike! Very helpful.

Thanks Austin! 

If I chose to go that route and pay the realtor myself, do you think it would be best to state in the letter that I'll be using an agent for the potential transaction, or just wait until after they respond to the letter, and tell them once we chat?

Thank you all

I'm a newbie. I have started driving for dollars, and have a small list of properties I'm going to send hand written letters to. If I get a response and want to move forward with the purchase, I'd really like to work my realtor through the transaction. (I'm worried that I won't request all of the necessary information from the seller, ie: rent roll, bank statements, etc., or if I do acquire it, that I won't understand it; also that I won't be able to recognize what is normal/laziness versus sketchy.)

Is it appropriate to use my realtor on any leads that I want to pursue? And if so, how do I state that in my letters so that it doesn't turn a seller off, yet gives them a heads up?

Thanks for any advice!

Amy

I'm an aspiring investor looking for a multifamily property in Cincinnati, OH and trying to get all the forms organized as well. Where did you get your lease agreement? I downloaded the Ohio form on the BP website, but it is 11 pages long! I want to cover all the important points, but I can't imagine a renter is going to read this thing before signing. Is this the only legal form to use, or do people draft their own?

Hi! My name is Amy. My husband Marc and I have been interested in investing in real estate for years and years and we're finally at a point that we both feel ready to make it happen! Marc has done a little house hacking, and I was a real estate agent for a handful of years but that was all 15-20 years ago. We flipped (flopped) a house about 3 years ago, I flipped a couple of condos back in my RE days, but that is the extent of our experience. 

We now want to buy and hold properties for rental income/investing. We became serious about 4 months ago, and have been reading RE books, listening to podcasts, and networking with other RE investors to learn as much as we can. There are so many niches that are interesting to me, but we had to narrow our focus, and decided to target DUPLEXES within 15 minutes of our home. My goal is to purchase 2 duplexes by the end of 2020.

I am so grateful for this community. I am learning so much from others, and it will certainly be a valuable resource for the many unknowns in the future of landlording. Thanks for being here for each other. I welcome any and all nuggets of advice :-)