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All Forum Posts by: Dell Schlabach

Dell Schlabach has started 10 posts and replied 872 times.

Post: What was the best 'Thank You' gift you ever received from an agent?

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

Cleveland Indians tickets a couple times, apple pies, last christmas 250.00 in gift cards to Bone Fish Grill, Starbucks etc. 

Post: Seeking motivated sellers

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

I have a couple too!!

Post: Wholesalers 'Contingency' Approach Evades Financial Qualification & Commitment

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

@Account Closed 

 Most competent wholesalers are doing direct marketing to owners whose properties are not listed on the mls.

There are a few, including myself that wholesale quite a few properties from the mls.  We do not put ANY contingencies in our contracts, except the occasional well and septic inspection. 

We also provide proof of funds so we are taken seriously.

The scenario that you are describing, wholesaler tying up an mls property and trying to resell with a second contengincy prior to the original closing, don't think you will find any successful wholesalers using such a strategy. 

Post: Wholesaling... and Zoning Question

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

I agree with the others, get it in writing. We bought a two acre property on two acres.  Was told by the listing Realtor and someone from zoning that we could split the lot into two one acre parcels. 

I didn't get it in writing, they would not allow it when the time came, due to the access drive being an easement across another property. 

Trust but verify, in writing. 

 35,000 lesson

Post: If wholesaling how much do I pay a realtor for finding deals

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

@Kenneth Z. 

 You have Realtors that bring you deals, that you then negotiate directly with the seller? Are these off market deals? Houses they cant sell for list price and you negotiate short sales?

Can you provide a scenario or two of deals like this that you have done. Seems like I am missing a strategy. 

@Account Closed 

If the Realtor is looking to get both ends of the deal, they get the listing agent and the buyers agent commissions. You are suggesting you pay the Realtor part of your profits yet on top of that? Do you do that? How much do you typically pay your agent above the commissions he already received? 

I believe in helping those who help me as well, my realtor made roughly 140,000 from us last year and I didn't pay him any bonuses above the comissions. 

Post: If wholesaling how much do I pay a realtor for finding deals

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

Realtors get paid by the seller, not by the buyer.

Am I missing something in your question?

You want to pay the realtor a bonus for bringing you a deal? 

@Frederick Freeman 

@Account Closed 

 You pay a realtor part of your profits of a deal? How do you structure that, what %do you pay them? Do you pay the broker or the realtor? 

Post: reliable website

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

If you are looking for listed homes, the mls is the most reliable. You can get a realtor to put you on an automatic email setup, so every listing gets mailed to you the day it gets listed. 

HomePath will only give you their listings, they are also on the mls, but not vise versa. Hudhomestore will give you all the HUD listings, again all the HUD homes are listed on the mls as well, but not vise versa.

Loopnet is designed for commercial listings, so not the source for single family. 

Post: Investor from Akron / Canton, OH

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

Welcome to BP, great site!

You are welcome to hit me up for prices we pay for projects, sub items or any questions relating to rehab. Have a bit of experience there :-)

Post: MAYDAY! Contractor sucks!

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

I have to agree with @j scott, its one of the first things that was drilled into me by my private lender, former rehabber, when I started doing rehabs.

Any time I complained about a contractor I didn't get any sympytathy from my "mentor". The questions were always along the lines of; who hired him, whose responsibility is it, why did I let it go this long. Either the contractor doesn't understand or is incompetent. 

If he doesn't understand expectations its my fault for not communicating them clearly,  if he's incompetent its still my fault for hiring him and I need to dehire him quickly, and hire someone more competent.

Post: Replacing electric baseboard in flip house

Dell Schlabach
Pro Member
Posted
  • Investor
  • Canton-Akron, OH
  • Posts 915
  • Votes 474

Couple things to consider, I recall the first hotwater heat system we decided to keep, boiler was newer, appeared in 

good condition, wanted to save some money. But when we tested the system water lines were busted everywhere apparently 

not to well winterized, after two weeks and two different heating contractors about 4,000 later it was up and running. 

For the next five years I always replaced them with a central system heat and air. This summer I bought one with hotwater heat, . Good condition, house didnt need a lot of work decided to keep it, about 15 people through the first two weeks, two didnt like the busy street, the other 13 liked the house but not the fact it didnt have central air. 20 some people through in four weeks, ended up selling for 8k below original list. If I had central air, it would likely have had multiple offers the first week. 

Our typical costs to install new central system with ductwork, high efficiency furnace, central air is under 6k, most convoluted system to date cost us 6,500 some. We have done at least 10 in the last 5 years, I wont put another house on the market without central air, your market may be different. But here anything over 100k I would not put on the market without central air.,