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All Forum Posts by: Fareed R.

Fareed R. has started 13 posts and replied 72 times.

Post: Edmond, Ok Rental property

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Originally posted by @Eli Davis:

@fareed Riaz Edmond is a great market. We manage close 150+ properties just in Edmond alone. Most of the properties that we get $1300-1400 on we get our investors into them for 130-150k. 165 seems a little high for that rent. There are a lot of neighborhoods that you can bring the other numbers in. 80% also seems a bit high up front on the management. I'm a believer everyone has a right to charge their own fees as they see fit however most management charge 50% leasing fee of first months rent and between 8.5%-10% monthly management. 

 After reading further it seems 50% rule equates to 2% in order to cash flow and around 1% to break even. Any luck getting anything in 2% range

Post: Edmond, Ok Rental property

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
I need to learn the @ sign game :)

Post: Signs you need a new realtor

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Originally posted by @Jerry W.:

@Fareed Riaz, having a realtor working hard to find you a deal is a two way street. You need to be prequalified and have your earnest money ready to buy something. If you have done this and your realtor still isn't responding, move on and find another one. On the other hand it is hard to devote hundreds of hours to someone who might not even be able to afford to buy a property.

     I am prequalified and also have earnest money ready to buy, they know that as well. Thanks for your advice Jerry, I'm gonna push once more and get my point across to the realtor to see what happens.

Post: Signs you need a new realtor

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Originally posted by @Jennifer Preddy Egbert:

@Fareed R. how did you choose your current realtor? What isn't happening that you think should be? 

Via google, searched realtors investor in region I was looking for. Also saw some articles on investing in forums from same person so I thought they where a good match. I'm not getting properties from realtor that match the 1% rule that I've asked for but instead get properties more around $180 bit rents are around $1450. 

Post: Signs you need a new realtor

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Would it be ethical to have 2 agents working for me? What if they send me the same property? I'd be open to it so I can compare service. I've told him that I want to follow the 1% rule but keep getting properties that don't meet the criteria.

Post: Signs you need a new realtor

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Steve Vaughan I haven't done a deal yet so I feel I still need the realtor to have my back incase I miss a few items in closing the deal, any thoughts? Any list of questions you recommend that I ask a new realtor to vet them out and make sure they are investor friendly?

Post: Signs you need a new realtor

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
What are some signs that I need a new realtor, I currently have one but most of properties that we find are from me? How can I find that will focused on finding me properties with 1% rule or other investment know how?

Post: New BiggerPockets Employee!

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Congrats! If the new books are like, Bigger Pockets: Beginner's Guide to Real ... you will be ok :)

Post: Edmond, Ok Rental property

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Eli, Thanks for the info, any place I can find data to show the Edmond rental market strength? Thanks, Fareed

Post: Rent for duplex in Edmond

Fareed R.Posted
  • California
  • Posts 73
  • Votes 15
Penny Where you able to find a property in Edmond, would love to here what happened? I myself am trying to do the same thing and did find a property but it needed new fencing, ac was pretty old and roof not in a decent shape. Also I've heard pop and job growth is high but I haven't seen that data, so having second thoughts.