All Forum Posts by: Eric Jubeck

I really enjoy the Poconos, made many visits to the area growing up, sounds like this will inject a lot of new business into the area and definitely something to keep an eye on. Thanks for sharing!

I think the more important question to ask is how are you finding this property? Are you discussing properties that are listed on the MLS? Or properties being sourced off-market?

If the property is sourced from the MLS, then the listing agreement that is already predetermined by the Seller and Listing Agent already outlines if, and how much the Buyer's Agent is being paid here in Florida. Though not mandatory, it is most common for the Seller and Listing Agent to already have it outlined in the MLS that they will be paying the Buyer's Agent, which is included in the Seller's closing costs. So regardless if they are doing 100% owner financing, or if they are only holding a second like 15-20% as you mentioned, the Seller would still pay your Agent their commission IF the MLS indicates so...which your Agent will already know up front by the MLS listing. But, if they are not offering any commission to the Cooperating Broker (Your Buyer's Agent), then yes, you would have to pay your Buyer's Agent yourself...but again this would be known immediately by your Agent looking at the MLS listing for the property so you can make that call ahead of time.

Otherwise, if this is an off-market deal, then yes it's all negotiable and as others have indicated, you would be responsible to pay your Buyer's Agent (also called the Selling Agent) as part of your closing costs.

Welcome! If you need any guidance with anything down here in FL reach out!

I think the other question to ask yourself is which flooring will yield higher rental rates? Are these units tastefully updated where one would expect new vinyl planks to go with the look and/or the market area? Or are these more like Old FL Cottage style units with a coastal vibe that the Terrazzo flooring fits the units and competing units for rent? I would base the decision more on which one matches the property and market more and will bring in the best ROI!

Sounds very interesting, we'll be keeping an eye on this trend for sure. Let us know how it works out if you test it!

Hey Ryan, we did a flip in Jax Beach not too long ago. Have a great Agent there we used for our sale, plus a hard money lender if you end up needing that resource. I know a bunch of investors in that area are plugged into the Jax REIA as well so check that out. Best of luck with your move there!

Hey Steven, I'm right here in Navarre/Gulf Breeze and can give you some insight on property managers for the area. I'll shoot you a direct message to connect!

 Well you never want to overpay, so getting beat out by real offers though frustrating, not necessarily a bad thing...

I'm not sure how your contracts work in IA, but the next thing to consider is how you can get creative with the terms, to be the most desirable offer. So many people get caught up on just the Purchase Price...but there are so many other terms in the sale that can be made more favorable to the Seller to win out your offer...

For example here in FL, many people use the AS-IS contract...so outside of the normal Cash vs Financing scenario...you have EMD, Right to Cancel/Inspection Period, Financing Contingency as some of the major terms that sway decisions. So if you're an investor coming in with a lower offer than probably the retail buyer looking to homestead it...what can you do differently? Here most retail buyers only offer 1-2% in earnest money...so you as an investor can you do 5%?...and then take it a step further and say after the inspection period say I'll increase my earnest money to 10% with an additional deposit? Speaking of inspection period, how good are you with walkthroughs? And do you have a reliable contractor or inspection company on speed dial...so for us here, maybe an investor doesn't want to waive the inspection, but does a short 3-5 day vs the retail buyer asking for 7-15 days. Why? This makes it more favorable for the Seller to say they'll take yours knowing in 3 days you'll have 10% deposit locked in...versus the retail buyer with only 1% skin in the game, that could take two weeks for inspections, only to back out and force them to put back on market weeks later...and oh by the way, the retail buyer probably has financing with an even longer contingency to back out when they "can't get funding". Another big thing is for your agent to find out what would be most favorable to the Sellers through the listing agent. Maybe the thing that matters most is they need post-occupancy so that they can comfortably sell their home and have the month to acquire and move into the new place...most retail buyers wouldn't dare offer post-occupancy, but you as an Investor can and just collect the rent back that extra month...

The point is, in your market, how else can you get creative with your offer outside of purchase price to get more deals won? That's a conversation to have with your agent and make sure they're selling your deal to the listing agent as well...otherwise you need a new agent!

 Hey Mike, could be a few things happening, partnered with coincidence too...

Yes, sometimes a house that has been sitting all of a sudden gets all the interest at once...

Yes, it could be the Agent going back through trying to get cold leads warm again after your "interest"...

Yes, it could just be a negotiating tactic they're trying on you, or creating FOMO to get you to submit an offer...which you didn't really say if you actually got beat out on an offer or not?

But regardless of any of that, I wouldn't worry about it. The numbers are the numbers...and whatever makes sense to you for what that property is worth to hit your goals, then that is what you go in at. Forget all the hype they're feeding you and just offer what the numbers are telling you that you should be offering. Submit the offer and worst case you get told no, or get beat out, and you just move on to the next property anyways!!! Don't think too much into it and just trust yourself and that's it...the right property at the right price will come around for you, just gotta keep taking those swings!

 Hey Ryan, there are tons of experienced investors where you are, but to answer your question about how to network with them, there are two great options down there...

Coffee With Investors in Delray Beach...I never ended up going myself, but personally know guys that do and really enjoy it. The guy Jon that runs it posts the event here on BP monthly if you search it up...

Then in PSL you have the Coastal FL REIA group. I never ventured up that far to PSL, but have a friend that attends that one and I heard they can get big, like over 100 people big and they do other events like property walk throughs I heard outside of the usual monthly meeting from what he told me.

If you end up needing any Agent help, that's my secondary market, I used to run an office down there in PBG and can connect with you plenty of great people down there if you find yourself needing it. Best of luck!