All Forum Posts by: Gabe Capoferri

I am planning to leave my current brokerage. 

To make a long story short, I am referring a subdivision project to my DB for a referral fee. The agreement states that "This agreement is entered into by and between Gabe Capoferri  of "Brokerage Name" and..." 

If I leave my brokerage, is my referral agreement no longer valid because the agreement states my old brokerage and not my new brokerage? 

I am looking to buy a multi family and the listing agent noted that the seller is doing a 1031 exchange. Unfortunately we cannot offer the full asking price because we are not approved to do so. I would still like to make an offer and want to find other ways to make our offer more competitive. 

From what I have read, providing a flexible closing date is the best thing you can do since the seller will only have 45 days to get into another property. Is there anything else I can do to stand out in my offer? 

Thanks @Andrew Steffens! 

Appreciate your thoughts Troy. 5-10% is along the lines of what I was thinking. 

I'm curious of the language people use in their termination clause for STR management. Specifically in reference to what is owed if a client terminates services.

I had a client unexpectedly terminate (they are being forced to come back to the US for visa reasons) and they are going to manage the property moving forward. I get it...why pay someone to do it if you're around and can do it yourself. 

However, I just lost a ton of money on future bookings! I have a 30 day notice that requires I be paid my rate for any of the bookings within that window and I would continue my services during that time. Since we are in Maine and we are coming out of the winter season I've been spending time marketing and getting the property booked for the Spring/Summer. The house is opening back up in April and it is almost fully booked, but I won't see a penny of it. 

Any thoughts on how to reword my contract?

 Yes, I am connected with Sarah. She seems very knowledgeable in this area. I'm sure there are pros and cons either way. 

 Glad to hear! There are too many things that are "popular" nowadays. It can be hard to tell what is legit sometimes. 

 Good point @Jesse Turner. 

I am curious to hear people's thoughts on paying for STR Masterclasses.

Here's some background info...

I am a try it and learn it type of person and have found I learn much better that way. That is what I have done for the last two years. I jumped in with one property and learned as I did it. I did well enough to get a few more properties and now have 4. Nothing crazy, but I realize the potential and want to do it full time. 

The problem I am facing is scaling my portfolio. Maybe I am in my own head, but I am just not sure the best way to attract more owners. Cashflow is tight right now because the winter season in my area of Maine is a lot slower. Therefore I do not have a ton to invest. 

I am interested in STR Secrets Masterclass (I think its like $5,000) but I do not think I can swing it right now. I know a friend who took it and him and his wife scaled to 25 properties (they are also in an area with less STR restrictions and less seasonality). Nonetheless they are killing it and I'm pumped for them. He attributes a large part of their success to taking this class.

I guess I am just trying to do my due diligence. Curious to hear from others who have successfully scaled, with or without taking a master class. Also, what approach did you take to scale? 

Thank you 🤙🏻

Gabe

Yes, I agree, but my question is pertaining to rates that PM's charge. I manage STR's for owners and am doing some research to see if my prices are in the right range.

As to your point, yes, if you have the time to manage your own property it is definitely the best case scenario.