All Forum Posts by: Dani Beit-Or

I don't think the 27k is a write-off, it is an investment/equity.

I think you can write it off if you lose your investment. 

Speak to your/a CPA for the best answer. 

This is a legal Q and best to spend the 1-hour att. fee for a consultation. 

But I fully agree with @Lien Vuong and see it all too often - BEST focus and use of time is finding a deal not on LLC this or that - a Q that can be easily answered by an att.

Price varies based on the simplicity or complexity of the system. 

Most are inexpensive.

I'd do the following: 

Option 1: you pay for material tenants installs (if the tenant can) 

Option 2: "Hey tenant, I was not planning on spending . . . but how about this - we split the cost of it?"

I have done many many many transactions as both seller and buyer. 

As a SELLER I have to say I hate that there is such MLS regulation that specifies, at least w/ every MLS I worked with (many), that once a property goes under contract MLS statues needs to be changed to "Pending" or "Contingent"

Am I the only crazy one here who is annoyed by it? 

We all know that buyers don't shop pending homes. And if 20%-25% of deals fall through sooner or later I would like to keep showing my for sale house and build a backup list of buyers.  This will empower me when buyers are playing "tricks" of delaying and asking for more things or dragging their feet. 

This MLS regulation really both weakens my position and causes me to lose time and $$$ in case a closing doesn't take place.

Does anyone feel the same?

Have you seen something different?

Is there a way around it? 

do a month to month lease 

Do you already know the investment avenue or are you at a very early stage of not even sure what to invest in?

i.e. are you looking for residential rentals, multifamily, notes,  . . .  or have no clue? 

If you have a direction check Podcast and YouTune and start listening to experts and find the one/s you relate to.

If you are still not sure about which direction than search the same place for general investing until you find your

My exp. is 5.5-6% depending on the price of the house?

There is one broker (Tucker) that takes 7% non-negotiable.

To date, I worked w/ many local Realtors and found only one that turned the selling process into a science. He is one of the best ones I have met in my career. 

Personally, I tried in the past year to implement (not always successful) a success system that can get even all the way to 8% if the agent meets a certain price and certain time-line. 

I don't understand why us, consumer, just agree (in most cases) to a flat 6% as if that's like some an acceptable "rule".

As consumers, we should ask for more. If we have an easy house I should pay less the "rule" and if you worked harder for me and get me a better price and fast yu should get more. 

I'd say it depends on your personality and challenges. 

A good idea is to actually start w/ a series of questions to ask yourself (both) and self-map your position. Such as:

1.How much funds do I have?

2.What’s the source of the funds?

3.Do I have money in my rainy-day fund?

4.How free/busy am I and do I want to be actively or passively involved?

5.Can I get a loan?

6.What am I trying to accomplish?

7.What are my concerns:

•Vacancy, mortgage, will it go up or down, will it rent, can I trust the property manager

8.Do I know how to analyze a deal?

9.Do I understand the risks that are involved?

10.Do I have exit strategy/ies?

11.Have I set my investment criteria (baseline)?

12.Am I a doer?

Will I be able to pull the trigger when the time is right?

Once you have a better grip on the answers it will help you decide should you consider a coach or not. 

BTW, not all coaches are expensive and well worth the time saving, the guidance, etc.  

What @Ric Ernst said + where in IN, most PMs are local.

Sounds simple.

Have a meet w/ the seller and hash things out verbally. 

Present your challenge and build empathy. 

Say you plan to put your mom there.

Be honest and sincere and ask what is the seller looking for. 

If there's a gap you'd need to be creative to find ways to bridge the gap.

If you feel insecure to do such a deal hire a realtor to consult you in the background for a fixed fee.