All Forum Posts by: Blake McWilliams

@Benjamin Carver is the guy! I know if I was local I'd be in attendance!

 My interpretation of the original post is that the sellers agent is asking for $3,000 as a flat fee.  She did not mention anything of buyers agent compensation, which is a disservice in itself.  $3,000 is 4% to one side. 

 Hey Caleb!  As a rural agent not near a metro area can you shed some light on your stance?  Has the metro inventory recovered enough as to where you're able to still charge a premium like 4% to one side as this inquiry refers to?  I do understand being selective on the type of buisness you take, but as an agent we still have a fiduciary duty to our clients to make sure they receive the level of service this price requires.  Thanks!

Hi @Eileen L.!  Three thousand as a flat fee seems a bit high.  I would ask them what services above and beyond the required broker services they plan to perform.  I'm an agent two hours East of St Louis and would be happy to take that listing at 5.5% total if I brokered there.  That being said commission is 100% negotiable.  I would stand tall at 5.5% and see what they say.  For most agents some income is better than no income.  

Hope this helps!

Cheers!

 I really am enjoying this thought exercise.  I have one market I'm highly excited about at this moment.  Mattoon, IL.  They are currently in the middle of a quarter billion dollar multi use zoning project.  The city is also making large pushes in zoning to incentivize investors and developers to focus on this community. Some examples are, adu zoning, lower minimum sqft., zoning exceptions for business in a primary residence, city lots for sale for under $15,000.  

As far as value add there isn't any one particular method I'm partial to.  I have some in-house laborers for any large projects but sometimes value add can even be raising rents to market or finding an off market gem.  More than anything I would like to see some form of upside so I don't particularly have to underwrite for appreciation, it's almost a bonus.  

Hey @Jason Matthews!  Interesting prompt, thanks for the post!  Firstly, I think this answer will be highly dependent on each investors current situation along with their long term goals!  

For myself, I currently look for buy and hold with long term appreciation.  That being said an additional $500,000 would not stray me from this path.  I would look at buying 5 properties using loans that have some sort of value add aspect in a market that I believe will appreciate at the minimum of the historic national average.

This may be a rather boring and unflashy answer but I believe it would be the best money spent in my current knowledge and expertise.  

Cheers!

Hey @Kylie A.!  I currently invest only in rural communities and small towns and its allowed me to scale to 24 units in three years.  It is not only possible but it is scale-able.  One community I invest in is currently adding a quarter billion dollar mixed use development the other is at an interstate insertion that 4x's the population with travelers daily.  I'm more than excited to give you more detailed insights if you have more questions! Feel free to connect!

Cheers!

Hey @Irving Robles Gamino!  First of all welcome to the BP Community.  I'd advise you to dive deep into the forums, there's plenty to learn!  As an agent, I've worked with multiple wholesalers, novations, subto, etc.  Working with this group seems slightly polarizing I either love the experience or greatly dislike the experience.  In the latter I've found many wholesalers who get a client to sign a contract with little to no explanation, leaving the client in a bit of misunderstanding about the process.  As the agent I typically become the face of the transaction.  When the wholesaler locks a contract up under false pretenses it not only lacks integrity but also throws the agent under the bus with them.  

On the reverse when I work with a wholesaler who has thoroughly explained the process and contract and leads with integrity and honesty.  I find all parties leave the transaction greatly satisfied.  There is a way for all parties to get what they want.  

My advice is simple always be honest with your clients!

Cheers and best of luck!

 Hey Robel!  I highly recommend listing to @Dave Meyer's most recent on the market podcast!  He breaks down what the fear of tariffs has currently done to interest rates and what future tariffs could mean for our economy and the housing market as a whole.  @Scott Trench Also had an incredible post on what this administrations proposed policy's implications could be for real estate investors.  

Hope this helpful!

Cheers!

Hey @Ian Hutton!  Personally, I would pay off the higher rate first.  With your primary, assuming its a fixed loan, a higher percentage of your payment is going towards principle pay down (less wasted dollars).  Honestly with an interest rate like that you could even not pay off your primary and put any excess capital in a high yields savings account and be financially further in the long term.  

All in all though whichever method you choose congratulations on the steps towards financial freedom!

Cheers!