All Forum Posts by: David Sun

Some agents here are just trying to mislead newby investors. It is totally legal that your agent refunds a portion of his/her commission to you, at least in Washington state! Department of Justice even has a memo on it. For residential property, most if not all information is public on MLS or redfin. If you as an investor need to rely on an agent to find a deal for you, you have not done your homework and need to rethink your career. Agents, pls don't over emphasize your capabilities. Investors can do all searching, pricing, valuation, and even more. We just don't have time to get the realtor license, which only requires a high school diplomat btw.

After interviewing with several brokers, I picked one broker who only retains 1% up to $6,000 and refund the remaining commission to me as rebate.  The rebate can be used to reduce closing cost, purchase price, loan amount.  So for a $400k property, if the buyer agent commission is 3%, I will receive 2% or $8,000 as rebate, which is sufficient to cover my hard money lending cost and even lower the purchase price a bit by using the rebate.

I have done several deals with the agent.  It's not just fee.  This agent is very professional, knowledgeable and spontaneous.  She can reply to my email 24/7, which is a blessing for me as the timing is the key to find and negotiate a deal.

I don't want to make this as an ad.  Just want to let every investor know that you can request rebate from your agent.  If you want the contact of my agent, please pm me.

I've purchased a few investment properties in Washington State and now I would like to invest more in the Great Seattle Area.  Obviously the traditional 3% commission of the buyer agent takes up a big percentage of profit (if you consider the later 6% commission cost to buyer agent and listing agent in sale of the investment property).  

So I would like to check what's the going rate or rebate of buyer agent for residential real estate and commercial real estate respectively in the Seattle Area?

Can anyone recommend a licensed inspector in the Greater Seattle ARea that has has NWMLS key access?  So the inspector can inspect the home without accompany of the realtor.

Thanks for all.  

Andy, is there a rule that no cash refinancing for investment properties allowed after 4 mortgages?

Guys,

I have quite a few properties and each of them has enough equity to do cash out refinancing as I paid some of them in all cash. However, my cash in-hand cannot cover the 6 month reserve, which is required even for cash out financing, as some loan agents told me.

Any idea how to do the cash-refinancing under my situation? My properties are in Washington state.

Guys,

I have quite a few properties and each of them has enough equity to do cash out refinancing.  However, my cash in-hand cannot cover the 6 month reserve, which is required even for cash out financing, as some loan agents told me.

Any idea how to do the cash-refinancing under my situation?  My properties are in Washington state.

I have a rental property, 4-plex, for sale in Spokane WA.  It's close to Gonzaga University, downtown, and shopping.  Any idea to quickly sell it as I move out of Spokane? The price is reasonable comparative to the rental income.  But I don't get many responses.

Is there a group or club for investment property in Spokane WA that I can join to quickly introduce my property to all interested buyers?