All Forum Posts by: Brandon Vukelich

Find out who is flipping the deals in the market you're working. For example, you could search zillow past sales for the props you can tell have been flipped (look through pics), use county records, skip trace the seller and ask if they want more deals. Not sure how the public records or MLS works in your area but in WA (I'm a licensed agent) and our listings contain the name and phone number of the seller, unless they sign a doc to keep their info private. I went through and searched all the flipped properties over the previous year, called the seller (usually the flipper) and asked if they wanted more deals. Nearly 100% of them said yes. It's not a tough conversation. "Hey, I saw your awesome flip that just sold. I occasionally have some off market opportunities, are you interested in more deals?" I built a list of about 80 buyers in less than a week. That was 2 years ago and honestly, all of my deals basically go to 1-2 top buyers that I know will close. You don't need a lot of buyers if your deals are good. Best wishes in your search!

Not sure what you mean exactly when you say "simple" way to analyze a deal and "good" is very dependent upon the investor. I use a "snapshot" spreadsheet from our office to run some basic numbers on small deals and a more advanced spreadsheet (provided by my mentor group) on the bigger or potential syndicated opportunities. I would say it's a potential good deal if it meets your criteria on ROI, Cash on Cash, CAP, growth, etc. Keep in mind, some "good" deals look good on paper but maybe the area, demographics, local laws, etc make it more of a bad deal in reality. Best wishes on your investing journey!

No, we already charge a premium rental rate so all utilities are included.  I'm sure every operator has a different idea on how to manage utilities.  We keep it simple for guests.

Here are a few tips I keep in mind.

1. Find them off-market opportunities.

2. Connect them with opportunities outside your service area (i.e. Eastern WA, other states).

3. Help them look beyond the financials for a deal.  Understand the job, income, population growth and demographics of an area. Also, knowing the anti- or pro-landlord policies in an area/city.

4. Assist them with due diligence and know how to be thorough about it.

5. Align them with solid vendors such as property management, if they are wise enough to hire one.

Also, owning your own portfolio of properties helps show that you have experience.  Best wishes on your journey as an agent!

DISCLOSURE: I'm not licensed to give tax advice.  But if you have lived in the rental for 2 of the last 5 years, you should be clear up to $250k/individual or $500k/couple before you're hit with cap gains. Here's a reference:

https://www.jonathanpond.com/h...

If exposed to cap gains, exchanging into another property is probably worth considering.

https://www.firstexchange.com/...

Regardless of the above information, I highly recommend you run your scenarios by your CPA or tax advisor.

Honestly, I wouldn't bother with spending marketing dollars on something like as a new agent. Any mail I get goes right in the recycle/trash. You are better off using whatever funds you have inviting people in your sphere out for coffee, a light lunch or beers/wine after work...or host a happy hour for a dozen or so people. Better for you to network face-to-face. Your goal right now should be to have conversations about real estate (buying, selling, investing, etc) with a handful of people every day. If you're not that social, focus on creating videos to post on Facebook, Insta or a Youtube channel. Not sure where you are from or what you intend to focus on but pick a neighborhood and instead of sending coupons for businesses, go out and shoot a video with local business owner to highlight them to your sphere. Share why you like the business, what they offer and why everyone in the "neighborhood" should check them out. That's free, just takes time and effort and that content will be out there forever. Best wishes in your RE journey! 

Agreed, sep metering is best but it may not be financially feasible for you for one reason or another.  Highly recommend implementing RUBS as allowed by your area, leases, etc.  There are plenty of 3rd party vendors to manage the process for you.

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https://www.synergyutilitybill...

@Jason Chung please heed the comments/advice posted here.  I apologize if I'm making assumptions but perhaps you haven't followed Seattle much over the years and don't own property in the city. Have you ever heard of tenantsunion.org? Look that up when you have time. I owned (past tense for a reason) property in Seattle and owned a property management firm there from 2010-2014. It is getting worse and worse every year.  Yes, strong jobs, good rent growth and appreciation in Seattle but do you understand how the city council and mayor run the city and their absolute intent to protect tenants to the extreme?  I no longer wanted my property taxes, rental inspection fees, etc go to support such an anti-capitalist, anti-landlord, anti-sanity city.  I refuse to help clients purchase within the city and encourage them to consider the many other great areas within the Puget Sound.  If you're here on BP, I'm guessing your values and plans to be a real estate investor do not align with Seattle.  But there are plenty out there that still feel the investment is worth it.  I wish them well.  Sorry...this subject always strikes a nerve with me as a person born and raised in Seattle and witness to the decades of decay in its politics.  So ashamed.  Best wishes on the direction you take in your investing goals!

@Barrington Webb if you plan to treat it as a legitimate business, invest a few hundred dollars in your own purchase & sale agreement and assignment contract, written by a licensed attorney in your state. A good real estate attorney may already have something they can offer you or update as needed, without reinventing the wheel. But you generally don't want to use legal docs from other parties without having an attorney review for your protection. Please keep in mind that you are not selling candy bars or an Xbox on Craigslist or something, you are transacting in real estate that comes with a lot of liability. Don't be cheap and look for free crappy docs online. Best wishes in your journey!

Good list @Don Konipol - I would emphasize numbers 2, 5, 6, 12, 13 and 20. You really need a good handle on market valuations. For me, the most difficult was estimating rehab but my strength as a local investor/agent was knowing the ARV. Also investing in "attorney-approved" documents, specific to our state, was well worth it. Best wishes on your journey!