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All Forum Posts by: Darren Sager

Darren Sager has started 66 posts and replied 1764 times.

Post: Out of State STR Investing -- HOA Proxy?

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

@Katie Miller we never invested in any property with an HOA. When we moved to Tampa, we specifically made sure we didn't even purchase our new primary home in one, or one with CDD fees (kinda like more fancy HOA fees that are tax deductible) for all the reasons you're having issues with. I will say that understanding them more since being here there are "pass thru HOA's" I'll call them, that only charge a few hundred a year. They're like a tiny dog barking. Those don't have the means to really enforce the bylaws and are usually lax in their rules allowing for short term rentals, etc, things us REI's can usually work with. Hope your situation gets resolved.

Post: Real Estate Agents Can Now Get Paid on Mortgages

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

Real Estate Agents, Realtors, Real Estate Team Leaders and Real Estate Brokers,

We’re having a live webinar that will show you how you can legally get paid out on mortgage origination (fully RESPA compliant) WITHOUT adding extra work to your already busy real estate schedule. And most likely, if you’re like me, you could already be doing the work necessary to get paid.

What? I can get paid on mortgages? I was told that was impossible. How do I sign up to find out more? Easy, just scroll all the way down and you can easily click the link to register. Need more info? Keep reading:

Were you aware that we (agents & brokers) generate most of the business for the mortgage industry (outside of refi’s). An agent on our team just spoke to a lender friend and they said more than 90% of his business came from agents. Doesn’t matter if you’re serving some of the hottest real estate markets right now like Raleigh, Tampa, Austin, Charlotte or Nashville. Most likely you’re the funnel out there that’s creating business for the mortgage industry. I know, I was for many of our lender “partners”. We’ve all made them a LOT of money. The funny thing about lender partners is they do everything in the world to get business from us, and then they do very little afterward other than ask for more clients.

Now for years we've all heard that technology is going to "eliminate real estate agents". Look at Zillow. Its founder put thousands of travel agents out of business with the creation of Expedia. Pundits called out that the same thing would happen to us. And yet the number of agents has actually grown quite dramatically over the last decade to their highest level ever in 2022 according to the NAR.

Yet few pundits have been focusing on the mortgage industry (on a side note Steve Brown, the Bald Futurist has and you should check him out. He predicts that technology will decimate the industry). Most people don’t shop for a mortgage first. They shop for an agent, including here on BP thru it’s Find An Agent platform (located on the top of every page). And what is the next step that the best agents take once they have a new client? We find out what they can afford on the lending side if they haven’t proven to us they can pay cash. We send them to a number of lenders that have made us feel great about working with them. They issue a pre-qual or a pre-approval. We get to work. Then they “help us” get to the closing table so we can get paid. It’s win-win. Or is it?

Now there are absolutely great lenders out there. Very hard-working individuals. I’ve known plenty over the past 15 years of having my real estate license. Yet despite me filling their plates with clients, I can say it’s been a pretty one-sided relationship in most cases. Can’t say I’ve ever once gotten a qualified buyer from a lender. Few give them out. Why? Most don’t generate their own business. Again, it’s coming from us agents in places like Nashville, Phoenix, Jacksonville, Atlanta and Orlando. All top selling markets currently in the United States. The most we’re getting is a year-end gift. And just so everyone’s aware that’s reading this. Lenders aren’t legally allowed to compensate agents for driving their business. It goes against RESPA compliance. You can read about all that here if you want.

But what if there was a way that we could get paid out? Legally & fully RESPA compliant. Isn’t that worth an hour of your time? We will be discussing the latest groundbreaking developments that now make this possible, increasing your earning potential. And if you’re currently a lender and want to learn how you can truly make those who drive your business your true partners, you’re welcome to attend and find out too what’s going on.

During the webinar, you'll learn how we've streamlined the mortgage process using AI (yup that new fancy buzz word), how you can now actually service your clients better because of it, and now earn commissions for originating loans for an FDIC insured bank that's been in business for 110 years.

When is this happening:

Thursday May 4th, at 1pm Eastern, 10am Pacific. Online.

YOU CAN CLICK ON THIS LINK TO SIGN UP

Some FAQ’s:

Does it matter what state that you’re licensed? No it doesn’t. You can be generating business in Orlando, Seattle, Philadelphia or Miami. Dallas or Pittsburg? Not a worry. From Los Angeles to Boston it doesn’t matter. This is available in all 50 states, even Washington DC.

Is this open to anyone with a real estate license?

There are some minimum production requirements for those licensed to be allowed into the program. We’ll discuss those on the webinar. And even if you don’t qualify yet, there are ways for us to work together until the production point is where you would qualify.

Is there a fee to attend?

No. We understand that your time is valuable enough, which is why we've designed this webinar to be informative and engaging.

Will this event be recorded so I can watch at a later time?

No. This is a live event and no recording will be made available. If you’re still interested in finding out more, register and we’ll follow up with you. Just let us know when you get the link to join that you won’t be there live in person.

What types of loans does the bank offer?

Conventional, FHA/VA USDA, Non-QM, Jumbo, and Investor friendly products including lending into LLC's. Join the webinar to ask all the different products available to help serve your clients best.

What if I have additional questions?

We’ll have plenty of time for you to ask your questions. The only thing we ask is that you mute yourself until after the primary presentation is given. Then you’re more than welcome to ask away.

YOU CAN CLICK ON THIS LINK TO SIGN UP

We look forward to seeing you there!

Post: rental arbitrage in Tampa/ St Petersburg

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

Funny you mentioned this. Check out the BP's Real Estate Events & Happenings area as there's an event this week which will be covering the topic in Tampa, for Tampa region.

Post: Making $$ w/Extended Stay Rentals- Al Williamson- Tampa Aug. 11

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

Hello again fellow BiggerPockets members from the fastest growing region in the Southeast: Tampa Bay!  I'm pleased to announce that we're having our 2nd Tampa Bay event 6pm on Thursday, August 11th so put it in your calendar! We're thrilled to have an OG  BiggerPockets Podcast guest, Al Williamson, will be coming into town to present to the group:

LINK TO SIGN UP PAGE CLICK HERE

Al Williamson is a professional engineer, full-time real estate investor and the author of several real estate books. He began investing in 1996. He is best known for publicly documenting his quest to create enough secondary income streams to cover the 1st mortgage of his eight-unit apartment building (which he accomplished in September 2015). Al is a proud family man who now spends his days managing his corporate housing company and helping others reach their financial goals using extended stay rentals.  Lastly, I'm proud to call Al a friend.  He's a great person to know and we're honored to host him while he's here.  

Join us to learn:

• How to set up Extended Stay Rentals that create 3x profits in "Non-
Touristy" areas.

• A secret way of running an Airbnb without breaking any laws.

• How to compete against local extended stay hotels so you can reach
your financial goals.

• A "twist on AirBnB" that helps you earn twice as much as what 90%
of other investors are doing!

• A simple 6-step process for making a boatload of cash off rentals
whether you own them or not.

Is this going to be a great event or what!!!!??

We'll start off the event with great networking for the first 45 minutes, then we'll share a market update as to what's happening in the Tampa region you may not know about investing wise. We'll also cover some ways we're investing through loans right now making some incredible IRR's. We have some appetizers to share at the beginning too so should be a lot of fun, and it's free!

Even if you're brand new to BiggerPockets, a first time investor or a seasoned Pro, money lender or contractor, wholesaler or business professional, be sure to be there and meet other members and those interested in Real Estate investing from the Tampa St. Pete metro area which includes Hillsborough County, Pinellas County, Pasco County, Manatee County and Sarasota too, and so many more great towns like Palm Harbor, Dunedin, Wesley Chapel, Carrollwood, Riverview and more!.

You must register on the sign up page located here :  LINK TO SIGN UP PAGE CLICK HERE

Post: 4X BP Podcast Guest Ben Leybovich Meetup in Tampa- July 18th

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

Hello again fellow BiggerPockets members from around one of the best cities on the Gulf coast:  Tampa!   I'm pleased to announce that we're having our kick off  Tampa event on Monday, July 18th so put it in your calendar! We're super excited to announce that 4X BiggerPockets Podcast guest, Ben Leybovich, will be coming into town to present to the group:

LINK TO SIGN UP PAGE CLICK HERE

Ben is one of the few real estate investors to be on the BiggerPockets Podcast more than 3X.  There's definitely a reason for that.  Perhaps it's his warm, fuzzy vibes he sends out?  Or maybe it's his like it or leave it persona?  Regardless Ben has a great message to share with the group on Monday night.  He's going to cover his insights on the market as a whole and why they've shifted into to Class A locations for their business model.  This is something that we all can get good insight from and should get a lot out of.  

We'll start off the event with great networking for the first 45 minutes, then we'll share a market update as to what's happening in the Tampa region you may not know about investing wise.  Full disclosure from me I do invest in 

Even if you're brand new to BiggerPockets, a first time investor or a seasoned Pro, money lender or contractor, wholesaler or business professional, be sure to be there and meet other members and those interested in Real Estate investing from the Tampa St. Pete metro area which includes Hillsborough County, Pinellas County, Pasco County, Manatee County and Sarasota too,  and so many more great towns like Palm Harbor, Dunedin, Wesley Chapel, Carrollwood, Riverview and more!.

You must register on the sign up page located here : CLICK ON THIS TEXT FOR LINK TO SIGN UP!

Post: RENT CONTROL QUESTION FOR NEW JERSEY

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685
Quote from @Carlos Pelegrina:

@Darren Sager we are checking at a 4 units in Maplewood, and the New Jersey Department of Community Affairs
Division of Codes and Standard Landlord-Tenant Information Service 2009 RENT CONTROL SURVEY
says;
for Maplewood NJ says "Based on CPI 3+" I am guessing this property is under rent control. how do calculate the rent increase considering the CPI? at first looked like a good of market deal but I am starting to doubt. do  you have any experience in Maplewood?

Maplewood has rent control on 3 units and above based upon the CPI.  I have avoided 3 units and above in Maplewood my entire investing career because they are very anti landlord from my experience.  It took a lot of work for us to get rent control removed off two family units many years ago.  Forget that ever happening on three and above.

Post: Cost of Replacing Boiler heating to HVAC system?

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

I agree with @George W..  Far too many variables that can have an impact upon the price.  Get a number of quotes.  You'd most likely want to do that regardless.  I will say plan on north of $10k as a min.

Post: What do I want to add to a standard NJ lease?

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

@Esther Seme I don't share my exact lease with anyone anymore since Josh Dorkin highly advised me against it for liability reasons.  Happy to share with you a good base lease if you like that you'll need to modify for your own use. That work?

Post: Feedback on Holton-Wise Real Estate of Cleveland Ohio

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685
Originally posted by @JD Martin:
Originally posted by @Russell Brazil:
Originally posted by @JD Martin:
Originally posted by @Russell Brazil:

@JD Martin Where are you originally from?

 Orange, NJ - next city over from Newark. About 10 miles from Manhattan.

Ah, Im from Boston. @Darren Sager is a NJ guy.

 Yeah I think he's from Summit or somewhere around there. That's a little further west from where I grew up but not terribly far. 

We're now down in Tampa area.  It's a bit warmer!  :)  

Post: Structural Engineer needed in Jersey City NJ

Darren Sager
Pro Member
ModeratorPosted
  • Investor
  • Tampa, FL
  • Posts 2,072
  • Votes 1,685

Hey @Sam Kay try Mike Potros at 201-981-1283.  We call him in on anything like this to evaluate for our clients. He's also a home inspector.