All Forum Posts by: Andrew Thomas Vedder

Quote from @Christin Nguyen:

Quote from @Andrew Thomas Vedder:

Hi Christin, 

Of course you can ask. Weigh your options - does not getting what you want break the deal? Do your numbers still make sense (generate cash flow) without the buy down? If I were you I would write out why this is justified and ask your agent to deliver the short statement to the sellers. This will show them that this isn’t a money grab and they may be more inclined to give you what you want. All the best! Keep us updated. 

Unfortunately I did go bold ask for 3k to try and negotiate down but the sellers did not agree. I feel like my realtor didn’t relay my message in a way that I would have wanted. My primary focus was asking for help to buy down my interest rate and then I could close earlier, not just repairs. I wanted to incentivize the deal by focusing on quicker closing but I just felt like I wasn’t getting advocated for. But on a good note, I’m still getting the house with a little sellers credit from the original deal!

 Yes I’ve felt that way about past realtors. It’s important to put everything in writing and communicate clearly on what you need / want (and why!) from the other party. This will give your realtor an idea as to why you’re asking for. 
Best of luck with future endeavors. 

Hi Katy

What is your current commission structure? If it’s higher than 70/30 then maybe you suggest starting there. If your commission structure is supposed to give you more of a share of the commission after X amount of years working under that broker perhaps you make the split what your split would be after 4 years (maybe you’re 80-20 now but after so many years or X amount in total volume you’ll be at 90-10). Will your broker still be looking over your contracts as a property manager? Maybe working with him isn’t the best decision at all if he’s never been a property manager. Perhaps working under a current successful property manager would be best for your future. 

Just some thoughts. Best of luck to you. 

Quote from @Eliott Elias:

It depends on the city, if the only thing you are looking for is cash flow invest in multi family. You can cash flow in major cities, but need to use creative ways like Airbnb, rent by the room, etc.

That’s good advice, maybe a LTR/MTR in one unit and a STR in the other unit for a duplex.

Do you account for appreciation when you buy a property? How do you calculate expected appreciation in Austin for instance? Thanks for the reply. 

As we all know cash flow is becoming harder to find with interest rates going up. Has anyone looked into investing further away from established cities to find properties that will cash flow? Currently in Houston I cannot find a property that cash flows. But areas such as Bay City and Angleton have properties that will cash flow. 

They are outside of my targeted areas but for those who have invested in real estate that is one or two hours away from their primary location - how has your experience been? What do you look for when you invest in these smaller towns? 

Personally I take into account the current number of rentals available on the market and what jobs are available in the immediate area.
Thanks for y’all’s insight on this. 

-ATV

Thanks for the response. How long have you been an eXp agent? Have you represented any clients yet? If so, how did you manage to generate your leads? Did eXp help with lead generation? 

Quote from @Amika B.:

Quote from @Andrew Thomas Vedder:

Quote from @Amika B.:

Not every state will allow you to be licensed and act as a wholesaler... make sure you look into the specific rules for that in your state first. 

Very interesting question though! I'm a newer agent myself with eXp Realty. I never thought to align myself with wholesalers. In fact, I got my license to avoid having to go through wholesale! Good luck! I'll be following this post. I'm very curious to see what kind of advice you get :) 

 Thanks for your response. I actually just spoke to someone from eXp, how has your experience been so far? 

 I love it! There is so much available training and classes and their support has really been excellent. I'm a very strong self-motivated person so the virtual office aspect of the company works well for me. I might be able to put you in touch with someone if you're interested in learning more...

 Thank you! I’ve spoke to someone already and am currently weighing my options. I do like how they let you keep 100% of the commission 3x per year if you are buying an investment property for yourself. I may DM you later this week. 

Quote from @Amika B.:

Not every state will allow you to be licensed and act as a wholesaler... make sure you look into the specific rules for that in your state first. 

Very interesting question though! I'm a newer agent myself with eXp Realty. I never thought to align myself with wholesalers. In fact, I got my license to avoid having to go through wholesale! Good luck! I'll be following this post. I'm very curious to see what kind of advice you get :) 

 Thanks for your response. I actually just spoke to someone from eXp, how has your experience been so far? 

Hi all,

I’ve obtained my real estate sales license and I am looking for some guidance.

Information about me: Currently working a lot of hours on DuPont schedule (12 hour shifts rotating days and nights). 

I would ideally like to work for a wholesale brokerage because I believe it would allow me learn a lot about lead generation and deal analysis. It would also allow me to work more remotely than being a residential agent. 

I believe wholesalers also act as intermediaries and represent both sides - giving the brokerages more commission. 

Are these assumptions correct? Have any of you been my shoes and found successes doing something similar or different? Please share your experiences! 

House hacking is the way to go! I’ve ran the numbers on houston properties and house hacking is currently the only way I will cash flow on a property while getting out of my apartment. Perhaps cut your spending and save up money until you have two years at your current job to qualify for the loan. 

Best of luck, keep us updated. 

Hi Christin, 

Of course you can ask. Weigh your options - does not getting what you want break the deal? Do your numbers still make sense (generate cash flow) without the buy down? If I were you I would write out why this is justified and ask your agent to deliver the short statement to the sellers. This will show them that this isn’t a money grab and they may be more inclined to give you what you want. All the best! Keep us updated.