All Forum Posts by: Indre White

I think most of the investors expect from us realtors to be very knowledgeable of the market and be able to react in a timely manner when submitting offers - every hour counts for off-market properties, it is easy to lose a deal if not reacting in time. 

According to Realtor.com Housing market is on a recovery track post Covid-19 crisis. Miami is found to be one of most recovered markets together with Riverside, Houston, Washington DC, and Sacramento with a housing demand index between 128.5 and 143.5.

The median list price in the top 10 most and least recovered markets sat at $567,000 and $316,000 respectively on average. Among the most recovered markets for time-on-market sit Denver, Las Vegas, Jacksonville, San Francisco and Nashville, with a time on market index between 108.3 and 96.4.

*A value of 100 means the market has recovered to January 2020 pace.

Housing markets in the West and South are leading the recovery

What I would advice to current landlords is to add addendum to newly signed leases that tenants will  pay rent as stipulated in lease agreement and not take advantage of rent deferrals/deays. ets.  If they sign- the landlord is protected. This helps. Also, with law suits, addendum is they key to protect your property, otherwise it leaves you at risk of slip and fall accidents, etc.  

Hi Brent, If you need help from seasoned miami realtor, let me know. Indre

As a realtor, I do not agree with this being best option. Realtors are only getting 2.5%-3% commission on a deal( and if it is discounted deal, makes even less $), which goes to broker, then broker keeps anywhere from 10-40% of that commission. Afterwords, you need to pay taxes and left with barely anything. Of course, this could add to sellers profits if the realtor gets to offer rebate. But again, sellers are not obligated to use realtors if they want all profits for themselves.  I always offer some incentives to my buyer clients (like paying closing attorney fee from my commission)  based on their financial need, but losing half of commissions just because seller wants more cash on the deal does not seem fair, especially to realtor who does take the job seriously, spends hours on research, driving around clients for few months till they decide, marketing and advertising costs, phone calls, negotiations,  and more...

Hello,

If anyone interested in cash only off market deals in Miami area please contact me.

Thank you!

Great  question Mike! From my experience some investors fear "the rumor" that Miami will go under water,  others fear that zoning laws will change down the road and the  laws will be different,  some are afraid the current "airbnb qualified " properties might not allow short term rentals in future.  Foreign investors fear that visa laws will change, and they will not be allowed to come easily to USA, or bring their family members in future. The rest already mentioned with hurricanes, flood and insurance cost issues. However, despite all fears south florida (miami) remains active place for "bargains" ( price per SQF) with attractive mortgage rates,  spectacular location, cultural growth, strong rental market and a good way to diversify portfolio. 

hi William, welcome to BP! Congratulations on a great plan! 

let me know if you are interested in cash flow properties in miami area as well. I am local seasoned realtor here, and I could help out. 

Regards,

Indre

well, depends - my broker was very strict, they would not accept any paperwork like that, so it depends!  And some of the bigger Brokerage companies have very strict rules about contracts as they do not want to leave room for any potential law suits. 

Hi Christopher, I would not strike out any portion from standard form yourself. These contracts are made standard, and only attorneys are allowed to modify and create their own adjustments. 

I do not think it is legit to cross out words that you don't like, the Brokerage of the realtor who sent you this, will not allow these kind of modifications.

You can always modify dates, lists, addendum wording, but not Florida Bar standard contract.

I would have a lawyer draft a separate contract for commission agreement if you are not comfortable with this one.