All Forum Posts by: Cierra Seay

@Joe Villeneuve wow 4 in 48 hours !!! And you wholesaled a HUD and bank owned property ???

Very interesting story today. Usually when super rich people start spending money somewhere they have an inclination of what's to come. 

http://www.detroitnews.com/story/news/local/wayne-county/2014/10/21/m-bid-placed-bundle-foreclosed-properties-detroit/17659389/

@MARK MULATTIERI  the law here in Michigan is the same a tenant can't not pay rent because of a repair issue. Rent should go in an escrow account and then be released to you once everything is rectified. If he's ripping out the repairs you can file an eviction for extensive and continuing damage to rental property or you can do a termination of tenancy since he's on a month to month and site it for another reason outside of the rent not being paid.  I would file either one of these if he does pay the rent. Do you have pics of the damage he did after you made repairs ?

@Rusty Thompson commission is usually 3% per deal every now and then you find a listing with a flat rate amount for the buyer's agent and that's usually between $500-$1500. Because I'm just starting I'm focusing more on building relationships and finding a few key guys who I know are going to buy properties frequently. I do plan on asking for a retainer fee in the future once I build my business and my reputation as a great investor's agent in my area. I still prospect traditional sellers because marketing a listing doesn't take as much time as working with traditional buyers but on the buying side I only deal with investors.

@Linda Quinton  the qualities I look for in an investor client is someone who knows the type of investment that they are looking for meaning they have specific criteria that they stick to, someone who's loyal, has integrity, and someone who's fairly consistent. Price point isn't a big issue with me if I'm getting consistent business from the individual. Putting in a lot of offers doesn't bother me but if they're not being accepted we have to take a step back and look at why they're not being accepted. I love working with investors.

@Rusty Thompson  that's unfortunate that it's like that in your market. Personally I am an investor's agent and I only work with investors on the buying end. I'm a fairly new agent so I don't have a lot of relationships anyway and my goal coming into this was to work primarily with investors because my long-term goal is to be a full time investor. My job is to help my clients make money not make friends with other Realtors.

@Craig Bowen Here in Michigan it depends I've had offers answered in 24 hours and I've had offers that took weeks to get a response. If they've already dropped the price once depending on how long ago that was they will probably be dropping it again soon if they're not getting offers. I would put the offer in but don't be surprised if it takes a while for a response. 

@Account Closed  this is kind of an agent rule but it works for investors as well and that's to continue to prospect. Make sure everyone knows that you're an investor looking for deals. Once you do that I would suggest to just keep educating yourself. I plan my days by time block and the two things that I do daily are prospecting and educating myself. Whether it's a social media post putting the word out on what I do, listening to an audio book, or jumping on BP and reading the forums. Hope this helps !

@Robert Leonard thank you for commenting I asked because in the podcast  the person speaking said they would buy a potentially negative cash flowing property if it appreciates in value fast. I understand that you can't predict appreciation just interested in seeing if anyone factors this into their purchasing decisions.