All Forum Posts by: Anthony Katsonis

And he's out of state... Beautiful. How'd you find out about this property,if you don't mind me asking?

@Shane C. Downs

Right on. Makes it a lot easier when they don't owe any money on the property, and they are usually more open to seller financing... Or at least you don't have to explain to them that, "Don't worry, the bank is most likely not going to call a due on sale clause and foreclose." 

Best of luck! Hope you get it! 

Another word of advise though if you go this route... Carefully read the contract if they make you sign one to be a part of their team. A lot of times they'll try to put all kinds of stuff in there about non-compete, minimum time commitment, ownership of all leads, etc. Just be careful before you sign anything is all.

@Conway Morgan

It would work with any brokerage that has a top producing agent that is running a team.

I would google "Austin Texas Realtor", see what names come up, then go on Zillow, and look up their name. It will tell you how many deals they have done in the past 12 months. Pick the top producers, and call them and ask them if they have a team and if they are in need of a buyers agent. Let them know your situation, and see if they would have time to meet for coffee.

Chances are if they have a team, and are doing a lot of business, they would love to have another buyers agent to handle the buyer leads that they can't get to.

@Shane C. Downs

Yeah the calculators are great. 

Is the seller willing to do creative financing? If so what kind?

@Cherise Black

Congrats on your appreciating duplex! Gotta love great timing and intuition.

Let me just say this first off, financial independence through real estate is within your grasp. It takes a lot, but one step at a time, one property at a time, it can be done. 

I like your plan on building a multi-unit portfolio to fund your retirement. My wife and I are on the same path. 

Are you working with a commercial real estate agent? They should be able to put you in touch with some lenders and help you through the process of obtaining commercial financing.

@Brad F.

Right on - Here's to a smooth close! Looks super clean - Congrats!

@Shane C. Downs

Welcome to the site! The first deal is the hardest, huge milestone! Utilize the tools, resources and other members on this site to help you through the process. You got this!

@Conway Morgan

Look into being a buyer's agent on a top producing team. I did that and it worked out good for me. It really put some experience under my belt and helped me develop more knowledge of the real estate sales industry. 

Granted, it was expensive... 50/50 split and then some, but I closed 12 deals in ~9 months. I almost certainly would not have closed that many deals that year had I not been on a team with my broker giving me leads. I learned a ton, made some money, and eventually decided it was time to part ways with the knowledge and skills I had acquired and go build my own brand and get a much better split on my own.

Hope that helps!

@Jake Roland

Right on. Yeah that's the way to go IMO. Reinvesting cashflow into improvements is where the compounding effect occurs. We do the same things. Of course it's nice when you can keep the cashflow instead of dumping it all back into the property LOL. But it's nice to not be over-leveraged on any given property and just have the property carry itself. 

Banks... They can be a challenge to deal with, that's for sure.