All Forum Posts by: Effram Barrett

Tickers for REIT''s, RE index funds, and MBS's would be neat to see. Would help consolidate investing info

I assume you're citing negligence because your sister made multiple requests and the landlord hasn't done anything? That may be tough to prove but definitely have her look over the lease and know Illinois RE law. In TX, a sexual assault is cause for a lease termination; I'm not quite sure about peeping Tom.

At first I was thinking she deserves it because of the protection period in the listing agreement, but that's only if it doesn't sell before the listing agreement expires. That's how it is in TX at least, but if she signed a release terminating the agency than she might have to pound sand

You're getting ready to close on a home but you're not 100% sure how to calculate the ARV? You're playing with fire man. I would get a partner or experienced investor on board unless you already do.

You have to be more specific. What are trying to find the ARV of? Single family, multi family, land, etc. If it's single family then connect with a agent or broker and see if they will run comps of similar homes that have sold in the area recently.

Right now I'm in the process of getting my agent license, and I'm currently getting beat to death about disclosure. I can clearly see how it's a slippery slope, and some investors advise against getting your license for that reason alone. However, there are very successful investors who act as agents as well so I know it's possible when done correctly. 

My question is if I approach a potential seller, with my investor cap on, (giving full disclosure of this obviously) would I need to provide the IABS notice to them? To my understanding, the IABS notice gives notice of what the broker is required to do for their client. I'm not approaching them as an agent though but instead an investor/buyer. Is the IABS just to CYA in this instance? If I am off or my logic is flawed, please enlighten me. TIA for insight!

Sounds like a nice deal. I'm looking to acquire small apartments; do you use you own money for the DP or did you have investors you brought in?

This scenario is the exact reason I am getting my license. I don't want to a realtor to feel like I'm wasting their time or make it a hassle to view a property. I've heard of agent agreements, but I've never heard of one up until the end of the calendar year. You should probably cut your losses and find an agent who is willing to help your business grow 

Interesting topic. I think that your time zone plays an important role, especially if you have to compete with out of state competition. I'm in between the East and Western time zones being in the central, so 6am might be too early but 8 am would be too late. I currently wake up at 6am for my full time job, but 6:30-7 would be ideal when I get into RE full time.

 Congrats on closing on the 24 unit. Did you find the deal on or off market? I am very interested in doing small to mid size multi family units. (8-32 depending on the deal)