All Forum Posts by: Brandon Carriere

@Spencer Cornelia

Glad to see you got out unharmed..  You weren't right, like at all.. Zero..  But you got lucky that the market trickled up a little more for this property before its predictable death..  

People like @Casey Powers and myself deal with this stuff daily..  We KNOW what we are talking about..   Its unfortunate that most people don't listen..  I feel bad for the sucker that bought that place from you..  Thats going to get ugly..  

Congrats, and good luck on the next one..  

@Chris Morris   

As long as you hit your desired #'s, doesnt matter..  

@Account Closed

You can get deals in any market, but in a sellers market, the seller has all the leverage..  Usually there's very little inventory, meaning there's multiple buyers for every property and everyone is fighting over it, which is NEVER good for a buyer..  Prices are typically rising in this type of market.  

In a buyers market, inventory is typically quite high, meaning there's lots to choose from and buyers have their choice of properties and usually don't have much competition..  Thus, prices are possibly declining or very flat, in this type of market.. 

Depends if you're a buyer or seller, lol..   Its mostly inventory based, supply and demand

@Bill B.

Id say, knowing that nearly every duplex or multifamily in the greater Vegas area, is in a rougher area and typically not maintained well or even at all, Id be shocked if he had any cash flow..  A majority of those are old dumps..  It could take years to get out of disrepair..  Maybe he found the unicorn, unlikely though..  

That $500 wouldn't be "Cash Flow"..  You need to subtract all the variables, like Property management, Capital Expenditures, Repairs, Vacancy..   I'm guessing your cash flow would be negative after all that is done..   Is that property here in Vegas area?

@Ricardo R.

You’re talking in circles my friend. This guy NEEDS an agent to make it easier to transact and to protect his interests. He’s an out of state buyer and has no connections. Until he’s established, it would be insane to do anything otherwise 

I have multiple properties out of state and  still choose to pay an agent there to assist. They’re worth every penny.  

@Ricardo R.

 You as an agent definitely know that you're not guaranteed to get a better deal by going the route of the listing agent..  Unless the commission is variable in the listing agreement, its likely that the listing agent will get all 6% unless something else was agreed to prior to taking the listing..  Not only would a buyer not save anything by going this route, but now they have an agent making double the commission that has a fiduciary responsibility to the seller..  I couldn't imagine a worse scenario for a buyer who doesnt have experience or know everything about the process etc.. 

@Scott Anthony

Sorry to hear about your situation.. That was all too common here for years..  Not so much anymore but still possible.. Unfortunately, there's really nothing you can do other than save up the closing costs so you don't need to request that the seller pay them..  With multiple offers and possible appraisal issues, the sellers will likely never take your offer..  Wish I had better news..  Maybe look for any homes that have been on market for 30+ days and take a shot at one of those, but likely those will be overpriced or garbage..

And I second what Jacob just said..   

a 7 unit across the country, huh?   Seems like it would make sense to have the whole team involved. Im a realtor and always use agents on the other side when buying across the country, and typically pay them out of my own pocket..  Its so worth it to not have to worry about anything or try arranging things from across the country

Or, find an agent to help out for a small flat fee, maybe 2k or so..  If you let them know up front and make their task clear, I'm sure someone in Cleveland would be willing to help out for 2 or 3k..