All Forum Posts by: Eric Jubeck

How did this work out for you Gerard? And Kaylynn my two brothers live right there, have a remodeling business and want to start investing, might be good for you all to connect!

 You should absolutely feel comfortable asking for a referral fee to be paid on your personal residence. In fact it will most likely be easier for the agent to work on your personal sale, versus taking an actual referral that you would send someone outside of your market area. As for the higher commission request, that is just looking at numbers...so what's the net bottom line for you? If you paid X% commission with no referral, versus the higher Y% commission with referral back, but now have to split with your brokerage, taxed on the income, etc....which nets more in your pocket?

As for this agent asking for more...outside of his "knowledge", what else is he offering for you? Does he have a robust marketing plan? Does he have a higher budget for ad spend on your listing? Why does he need to press for more commission is the question? I'm assuming he has very little or zero invested in time or money prospecting for your listing, zero in time or money ad spend farming for your listing, he is probably not investing the same time or money to prepare a formal listing presentation for you at your home, and when it comes to going through the process will probably spend way less time or effort holding your hand and explaining every little detail to you compared to a traditional referral client...so the question is, why the greed for more when all day every day, most any agent out there would happily take a referral from you and pay you a referral fee for a listing just being handed to them...

 Hey Steven, you've received a lot of great replies so far and just to reiterate some of that for you...

First, where will you be stationed at specifically? NAS Pensacola? Or another station would make a huge difference in which area to choose...

Second, as others have said the East Hill, Scenic Heights, basically all East of 110 and Northeast of Downtown are great little neighborhoods. You mentioned young children, so are they school age? If so, the reason we live in the Navarre/Gulf Breeze area is because the Santa Rosa County school district is rated higher than Escambia County(Pensacola). So if you do have schools to consider, then coming across the Pensacola Bay bridge to Gulf Breeze to be in the better school district should be considered.

Finally, as others have mentioned, just because you have a VA loan now, doesn't necessarily mean you don't have enough entitlement for a second one. That is a common misconception that many don't realize you can have multiple VA loans in your lifetime, and also have loan simultaneously depending on price points versus entitlement.

Check out our FB page we just put up two videos with Veteran Mortgage Lenders going into detail about VA Loan misconceptions last week for Veterans Day. Plus we recently put up a lengthy series of Did You Know About Navarre because as Sean pointed out above, Navarre has so much upside potential and so few know about it!

Reach out if you have any other questions...

 Hey Oscarr, thanks for sharing and congrats on getting through the first year. There are some great pieces shared in your post, and as you move forward and have some of the experience under your belt, now it's time to lock in and focus on what will drive your business!!! Many agents get distracted by the next shiny object, they don't follow the Pareto Principle, no time blocking or strict adherence to their scheduling, and ultimately they end up trying to do too many things at once...especially with lead generation! Now you should know what your top sources are, so do nothing but that, and do it consistently at a high level!

Hey Matt, thanks for sharing, I'll send you a message to connect...

 Hey Carlo, the MTR would typically be anything for minimum 30 days or multi-months, like here in FL for example we do a lot of seasonal rentals of a few months at a time. Some even do furnished MTR just over 6 months to avoid tourist tax as well. Whereas LTR is your typical long term rental with an annual lease term in place. What will be your strategy here? And what type of property is it?

Kyle, I think the lenders gave you good info on the HELOC, but what is your situation? What kind of investment property are you buying? Is this going to be a flip that you're needing cash to either acquire or rehab the property and sell to cash back out? Or are you planning to buy a LTR for buy and hold with the cash held in the property? Are you in a situation to sell primary home and house hack a multifamily for example? Just trying to understand what you would be trying to use equity for in the first place to provide better answers for you...

Hey Carlo, that strongly depends on your strategy and market. Obviously if its a STR or MTR you will need to furnish. I'm assuming you're doing a LTR here, so what does your market say considering you're in NYC? Is this property in a high rise building? Something where it would be a pain for tenants to constantly move in and out of with furniture and deal with freight elevators and scheduling times with building, etc.? If so, offering furnished could probably be ideal for that situation...but again, it depends...

Hey Keegan, it's hard to give very accurate answer without more information. But, my first thought is your buyer is not "qualified" for the FHA loan without the 3.5% down payment requirement. No lender would have told you so without seeing the funds already seasoned in an account for the money down, or already knowing the situation for having the money in time for closing. So yes, they would have to receive verifiable gift funds, or their lender could try finding them a down payment assistance program. Not sure where you are, but here in FL the big one has been Hometown Heroes for covering down payment, but there is much more criteria to get approved as well. Provide more info and maybe someone can help give more insight...

 Welcome to BP! There's plenty of groups and events to get plugged into here in the area!