All Forum Posts by: Grigory Pekarsky

When you as a parent want to pass your estate to a child it is important to be mindful of the intent and whether or not the child has the capabilities, maturity, and responsibility for dealing with both the current tax implications as well as long-term family involvement with how funds are handled.

The following questions need to be asked in determining if this is an appropriate move: Do you anticipate your child always wanting your help? What will they do when you're gone? How much work will it take to start this relationship? Will I have enough energy in my later years to deal with that in addition to many other life changes that may come up then? Is my legacy inextricably linked to my money in some lifetime?

The best way to evaluate a real estate syndication is to visit the property. If you find yourself at an upcoming scheduled open house and it really matches up with your investment criteria and expectations then that may be a great opportunity for you. 

If you are looking for cash buyers for your property, it is important to have a good knowledge about the local market. Cash buyers are individuals who buy properties with cash instead of taking out a loan from their bank or credit union. To find these people in your area, there are many strategies that can be used. You can go door to door asking if anyone wants to buy your house fast. Another option would be to advertise on Craigslist and other websites where people who need quick money may turn up. Lastly, you could try having an open house event where you invite potential buyers over so they can see the property before making any decisions on whether they want it or not.

Are you just curious, or maybe there's some inheritance dispute that needs resolution? Try Spokeo 

You can easily remove POF or EMD from your title report by paying off some or all of the mortgage balance with cash instead of refinancing the property before submitting it as wholesale deal to investors who would buy at discounts (Wholesale Property Deals). If there isn't any mortgage balance on the property (or if it has already been paid off entirely), you would not be required to pay points or get POF or EMD. NOTE: You can use cash at closing while buying a property too, but you will need to wait till your local market's slow season when the banks are running their "cash for keys" promo which run around 3-6 months in duration. This means that if you had bought the house with cash during that time frame, then they would probably give out bigger discounts than what is offered by your wholesale buyers who might not want to wait for so long. But this strategy does work sometimes.

There are many reasons why an employee might not be performing up to your standards and it can take time for them get back on track or even worse, they never recover from their performance slump at all. When this happens, instead of continuing down this path of frustration and waiting for things to change, try these techniques for dealing with non-performing GC’s and subs:

First, make sure there is no miscommunication on your end. For example, if you're dealing with a GC and they tell you that something isn't complete and it's due the next day, follow up to make sure that they understand what needs to be done and when. Sometimes this will clear things right up and lead to the work getting done in time for their sub-trade to meet their deadline. If possible, try asking another sub what happened because sometimes it’s not really the GC’s fault at all or maybe it was just an honest mistake that can easily be fixed by simply clarifying expectations.

If you have tried all of these methods but nothing seems to work out in terms of communication between yourself and your contractor, maybe the most effective solution is fire them. In the long run, if you feel as though your contractor is trying to mislead or deceive you from the beginning, this will never change. Failed communication leads to failed work and once that occurs, it’s just a matter of time before they have to come back and redo everything. Sometimes this means more invoices and longer project times so definitely avoid these kinds of contractors at all costs.

If you are a landlord or property manager, you may come across the unpleasant task of removing smells from your rental property. I have never came across the situation when the reason for the smell is because previous tenant killed himself in the unit. But here are some tips on how to get rid of dead person smell:
- Place an open box of baking soda in each room overnight
- Clean all surfaces with vinegar and water solution (one part vinegar to ten parts water)
- Open all windows and let air dry out for several days
- Put bowls of white distilled vinegar around the house for three days.
- If none of these tips work, call a professional cleaning company. They can help remove dead body odor from your house.

As a wholesaler, you might feel like it is difficult to introduce yourself. It can be very tough when there's so much on the line and you're trying to convey your expertise and credibility all in one sentence. You don't want to make it sound like just another agent or broker, but someone who can get the job done and is trustworthy. Here are three ways of doing that:

1) Be specific when you tell people what type of deals you do. Don't say "I wholesale houses." Instead, say things like "I help investors find good deals in my area," or "I have access to properties under $100k." This shows that you know your stuff and can connect them with exactly what they need.

2) Tell stories about your experience in the industry so people feel more comfortable working with you. If appropriate for your business, mention past clients or specific deals you've done. If you don't have these, work in stories about what you would do if a client came to you with certain scenarios. People want to know they are working with an agent/business that has experience and the know-how to deliver.

3) Ask questions related to their needs so you can exceed their expectations while finding the right property for them. Some examples are: "What are your goals for getting into real estate?" "Is there anything I haven't covered that's important to you?" "What type of properties are you looking at, specifically? Let me tell you why what you're doing is risky." This shows that not only are you knowledgeable about your business, but also take it seriously. 

A realtor can be an amazing resource for a wholesaler. They are the experts in their field and know all of the tricks to find good deals. A solid relationship with your local realtor is crucial if you want to become successful as a wholesaler. In order to leverage a relationship with a realtor as a wholesaler you need to:

* Develop a good rapport.

Rapport simply means the "relationship between persons". In a realtor's case, they have to deal with people from all walks of life, so being able to work well with others is key. It's important that you learn to establish this good rapport quickly as not everyone has the time or patience for those who are less than enthusiastic about building their business.

* Be willing to repay your debts in a timely manner.

You would never take advantage of someone by doing something wrong and then refusing payment when it was due, right? Well the same goes for wholesaling properties. While you're waiting for your money to roll in, remember that if you don't pay up, you can ruin relationships and make an impression of insecure person.

* Don't be a know-it-all.

There will always be people smarter and more experienced than you, so don't act as though you already have all the answers. This doesn't mean you should question everything or second guess every decision made by those higher up than you--just remember to stay humble and do as you're told.

* Use your resources wisely.

Your broker is your go-to person for most decisions, but it's still important that you learn enough about real estate investing to make smart choices on your own from time to time. If you feel like a certain choice would work or if a strategy isn't working out or giving the results that were, check with someone first. 

"We would like to inform you that we regret to let you know that your application has not been approved. The decision was made based on the following reasons:

1) You did not provide enough information about yourself, your current or previous landlords, and any rental references;
2) Your income is below our minimum requirement;
3) Some of the items in your credit report are too recent for us to assess their significance when they were issued six months ago.

We hope these points will help when applying next time around!"