All Forum Posts by: Irina Belkofer

 I like the idea!

Usually I leave only toilet paper and some liquid soap. If I'd left all the right cleaning supplies, they'd not scratch any surface with anything random.

Gonna try!

1. Freedom

2. Best game in the world

3. You help people to get home - hopefully better and more affordable

ps I love the "why" - I love dealing with crazy tenants and cheating contractors 

Interesting - did PM send you the pictures? 

As for filters - it's beneficial for your appliances (furnace and A/C) to replace filters regularly.

It extend the useful life of equipment. I usually write in the Lease that I replace the filters once a year when inspecting the unit and they replace quarterly the rest of the year.

They won't for sure because even the cheapest filter cost $8-10 but at least once a year it got replaced.

Besides, some tenants don't report problems like plumbing, d/w cycle stop working or washer/dryer - they just do dishes themselves and go to laundromat. If I catch the problem right away, I still can call to fix it - I have warranties on most of appliances.

I'd say that once a year inspection must be mandatory for PM including pictures.

We have inspections from Citi - so I usually go and change filters, batteries, check all electric outlets - anything about safety of the property. Tenants usually very relaxed and don't look after your property like you would. That's why you need good property manager - to take care of your property.

@Kristine Libby how it's possible that utility company put a lien on the property?

Usually tenants put utilities in their name no only water billed back to them.

Is there something specific to California?

 Peter, who was changing filters in your furnace/A/C? It's not like they were sitting there for 6 years?!?

Also, don't they do inspection from the city once a year? 

6 years a lot of time....did tenants live without dishwasher and stove? Why they need to be replaced?

Light bulb for $50 it's a killing :)

California is too overpriced 

 Wish it were the case )

People will find you anyway. I don't sell much on MLS though - it helps. But we have plenty of other way to buy investment real estate and I do help with that.

Mostly I o property management for my properties and my clients, so I don't have to drive around anymore....I've answered your question. Don't blame me if don't like the answer. 

Asking client to pay fees per showing is a polite way to get rid of him. Why - you might know better. For one reason, your agent doesn't want to work with you - get another one. Buyer's agent is free for the buyer

@Matthew Olszak how do you know what I'm used to? 

And how I conduct my business? All my clients are investors and most of them are my friends already, but I do value loyalty more than anything.

So, yes, I do not work with people who use agents as a free transportation to see tons of houses. But it means more people for agents like you, doesn't it?

Every agent discuss what their client wants from the start, nobody rush to show houses without understanding - that's just stupid. But when I do 3-5 low ball offers - I don't understand if they really want to buy property or just to play the market. 

My best clients always know the value of the houses even when I offer lower the offer. Because they are experienced investors. 

Only newbies try to get lucky - and that's why I let them go with the listing agents - to practice. 

Trust me - I've had my share of these, not interested. But again, there are plenty of new agents who would be glad to accompany them. Each their own.

 I can't imagine someone would charge hourly rate to show properties here ;) who would pay? We do have exclusive buyer's agency though - the buyer is committed  to the agent and will pay the commission if he's going with another agent.

It's not common in Cleveland, at least, not everywhere, but very customary  in other areas. Agents get paid only when you close the deal, all the time we show the properties - pretty much waste. Some clients know for sure what they want and make an offer on the very first property (which is not good also), but some keep looking and never close - they just don't know what they want and if they do want - not only investors.

Specifically, investors must see a lot of properties by themselves and then call agent when exterior and location is good. Prices for investments are really low here - you can buy as cheap as $500 per house, some agents just give the lock box code to their clients - so they wouldn't have to drive. I prefer to lose a client rather than my license.

We have plenty of "wannabe investor" people, who have no clue how all that works - neither about financing, nor about buildings - I'm not free educator. I've done my fair share of such education my first 3-4 years in business. Now I'm more comfortable to stay in my office and do marketing for my own properties.

How it's prove  that they WILL sell for the asking price?

Every bank now has their own ridiculous terms: buyer pays all agent's fees, seller doesn't do disclosures, even back taxes are on the buyer!

The price has to be really dirt cheap to make an offer on something like that, not what's market value is.

There are always uneducated buyers who will buy on any terms. I never make an offer on something like that and don't advice to my clients. 

At least, I count all the costs to buy before they will make an offer. Market is high but not that high to comply with any stupid guideline 

It's like 0% credit card but with full doc approval.....lol

If you get your FICO higher than 760, you can get enough limit on credit cards to get money for real estate - 0% for 15-18 month.

Pay it off and start all over. Problem will be only when you want to refinance....but it's a totally different story