All Forum Posts by: Devin Deswert

Hey, While on a layover I read a article that apple bought workflow and it's now a free app. Sounded like a interesting app and I'm all for increasing productivity, I've heard of the app before today but this was the first day I've tried it. I Never wanted to spend money apps and programs never really stick. I usually end up going back to a notepad, photos and a bad memory. But while playing with it I found some good uses for real estate and non RE actions. The workflow: Speed dial I changed to RE contacts. So when I hit that widget I see only those contacts. Share availability this scans but calendar and finds free times and texts it. I always hate that going back and fourth with someone trying to find those free time slots that match up or double booking. Directions home. This widget just opens up apple maps and gives me directions home from my current location. I think it can be setup to use waze Remind me at home. This sets off a alert that goes off when I get home (set location) of something I inputted. I'm on a apple device so all I have to do is pull down or swipe right to get to the screen with weather/news/stocks and all these are neat little buttons. I played around with some custom workflows. One thing I did was for taking walk though photos. So I hit walk though pics button and the following happens. Opens camera at --> Stays open until I take 10 pic--> combine 10 pics and format into a grid --> convert to PDF --> text or email --> delete picks from camera. To do all this all I need to do is click the widget, click my shutter button 10 times, select email and hit send. As I learn it more I would like to be able to make it more complex with adding notes to the images, room measurements things like that, open up excel rough rehab estimate, proforma Calc. Basically put a full package together on my phone send it to review on my computer later and delete from my phone. So all walkthroughs are in the same format every time. Anyone else use this app that have some RE work flows?

I'm seeing the best cap in tayloesville, Murray and south salt lake and just ne of that. Lots of new shinny stuff going on in downtown but I just don't know how the rents will do in the area long term. Lots of backfilling going on and expanding on public transportation. There will always be a need for a downtown core I just don't see it as a draw like Portland or Seattle. Plus holiday has plans to revamp their downtown, south slc is adding one. Seems like the day break area draw more then I expected as well. I feel in slc that you need to keep at eye on the developing Urban centers and not the established ones. 

My general rule of thumb is no more then 1/2 mile from parks, public trans, freeway and grocery store, and a 7% cap rate. 

Hey,

I don't see anything really wrong with your plan. That's a lot of cash for one deal. Either you and your partner are excellent savers or high earners.  If your high earners you might not want to pay them off so fast, take the tax write off and buy two. Or a old downtown condo that needs updating and split it between down and remodel cost. 

But with condos a few things to point out. Keep in mind I'm not a condo rental owner currently but I've thought of adding it to my multi family portfolio. But I do own a townhome and sfh with a HOA. But from what I've researched is that you need to get to know the HOA. Do they allow rentals? Is there a cap on how many rentals for a property, are they enforcing their own rules, do they have a healthy reserve.

And if you have plenty of reserves to cover if they break lease or something else happens. Then why offer the discount and not use what you have.

It's time to diversify if you haven't. Either your first commercial property or a nice mix of index and sector funds.

Being able to do market research which takes a lot more effort then using the forum search function. I've seen this question asked a lot answered a lot and have even answered it myself in depth.

I started offering painting a few years back. It's been a request as long as I've been a landlord it seems. I was touring a few different new apartments and they where offering a accent wall that could be painted. They had a few choices and maintenance would paint it before move in. After 3 of the 5 apartments I toured offered it I decided to offer the same. It doesn't cost me anything so if the tenet is will to pay for it upfront and pay to have it changed on the back then I'm fine with it within reason as in 1 or 2 walls.

I'm a advocate of higher education less so of the instructions that provide it. But if you do I would recommend a more real estate focused MBA. Your alumni could be just as valuable as the degree.

Ya wait to see what the Realtor says. But remember something when talking to the seller. You are a motivated buyer willing to pay market price with financing in place and ready to close.About the next best thing is a as-is cash buyer. But you need to have a very straight foreword conversation with the seller. Saying if the number come in low compared to asking price not only can you not do it but the bank will not finance it. So you need to ask them how serious they are because you are dead serious on purchasing the home at a fair market value but can't pay more. Dipping your toes phase is over you have a target and financing and need to work on your ABC's. Always be closing. Basically use the cheesy sales tactics that work. Getting them saying yes; are they loving chile, great cost of living the US dollar goes a long ways, you have been a good tenet etc. Then roll into putting them in your place of would they over pay, would they want buyer commitment, full transparency, at what point would it be worth keeping. You don't need a hard number but you should be going for a soft commitment of fair market value for the property and condition. Then hopefully the Realtor comes back with numbers in your favor. If they don't then work them also. No offense to realtors but they are soft, human and often un educated outside of the RE exam. Comp's are opinions and close approximation(a guess) the difference between comps and appraisals can be a lot. If you don't have a Realtor find the former stay at home mom freshly licensed. Social engineer and get those numbers inline and a package put together from the Realtor. I know it's easier said then done. But at this point you should have a seller that's been saying yes to you, you are the only buyer on the radar and comps inline with your numbers not his. If you get that I would recommend a inspection and not tell the sellers. Depending on your area but expect to pay 150-250. The reason I say that is you can write your offer "as is" instead of contingent on inspection. They are out of town and know they have differed maintenance and if it goes to market they will have your Realtor comps in hand and know a buyer outside of you might have financing issues and fall though or walk after a inspection or ask for building allowance of some sort. They have failed selling the property once. So now you have built doubt into anything that's not you. Now I have to go shower after letting the used car salesmen of me back out. But does that help with the BS part?

Is this on the meet up app?