All Forum Posts by: Brent Bialik

damn I missed it. I'm in Tempe and looking to network with other real estate investors

The real reasons agents exist is primarily two fold. Agents are the grease that makes the whole thing happen, because in reality 99% of home sales wouldnt happen with buyers and sellers talking directly. Lots of fighting would occur and not much else. The secondary reason is to make sure the clients dont do or say something illegal. You wouldnt believe the incredibly stupid and illegal things that come out of peoples mouths.  

@Brent Bialik If you are going to buy from a turnkey company then you should expect that you are going to have to hold it for at least 5-10 years to avoid losing money on the sale. You are not likely to have much equity in it other than what you put down, and the appreciation you get over a long period. Turnkey and pulling money out quickly are nearly completely opposing strategies. Particularly in today's markets. You need to use a value add strategy - ie BRRR in order to pull money out.

@Brent Bialik So, I do think realtors do help with both the negotiation and 'prevent hurt feelings' aspect of it. I know when I'm looking at a property I definitely ask my realtor or property manager: What will it cost to fix ___? Can I raise rents? Is ____ normal? Is this property good enough to get an ROI on new cabinets? Lots of questions that can be insulting to a homeowner that might have made design or decorative choices that I wouldn't have. You might want to talk through comps that you've seen with your realtor and the last thing an emotional homeowner wants to hear is how you think their house is worth less than their neighbors.

Now can you sit down at a table in FSBO scenarios or other randomly in these cases? Sure. But the seller is probably going to have a realtor because they wanted to list the property, market it, bring in lots of potential buyers, assist with the transaction, etc. So your best case "no agent" scenario is that they have an agent at the table and you don't. Since the seller is paying for the agent, why wouldn't you at least want to have another set of eyes and ears?

I feel your pain it's the same here in my area.

Yeah turnkey will have your money tied up and won't allow you to rinse and repeat.

If you're open to rehabs I would definitely suggest looking for BRRRR deals.