All Forum Posts by: Jason Arcuri

 I would love to know where you get that 95% go bankrupt.  No one I know has gone bankrupt that owns rental properties and is passion.  I know people who aren't passionate about it and just ended up selling the properties but they made good money just didn't care for the lifestyle involved.  I think you have a lot of good info here, so please don't take me wrong.

I just believe that if you don't have the passion, then you are less likely to want to learn and really work on the business end of it. I believe you are right that the money is in the bigger end things like warehousing, but that's not easy for an average person starting out to get into. At the same time, it also depends on your market. The last multifamily/apartment I bought makes roughly 25% ROI. Don't get me wrong this is RARE but usually I aim for 15 to 20%.

I bought my first house/mfh at 21.  I was struggling between buying a new flashy car or a home and decided that the home was a better decision.  I still own the home today and it does ok.  I go it in 06 at the top so I'm not making as much as the homes I've purchased since.  I lived in the biggest unit and it only cost me $400 a month to live there and saved up from there.  9 years later, I have 3 rental properties and flipped 3 houses.  I have become an agent just because I love the housing market so much and truly believe I can help others.

Max I would go is 30k if the project is worth it.  Id really prefer some where around 20-25.  I don't know what the fees are for closing costs and realtors in your area but I put 7%.  Which means an extra $7700.  You may have counted that in your fixed costs, but I have found I seem to always forget about that till the end.  As your first flip, you don't really need to go for the home run.  Make sure that what you're buying is a solid house that will sell fast.  The big flippers get the best deals consistently and it's hard to compete with them.  It took me six months of searching to find a house for my first one and it was one that was bank owned and kept dropping in price.

in the traditional way you are right, but there are buyers I've picked up that also need to sell their home.  There are multiple avenues out there to get your name infront of people who don't know you.

Hello,

I have been trying to advertise myself as much as possible as a real estate agent.  I've done the basics (zillow, trulia, realtor) and I have gone old school (just listed cards).  If i get a listing interview, I have a prezi made that showcases what I do different than the average agent, again premier agent on zillow and trulia so they get their house set as a priority.  My hand writing sucks so I found hellobond.com which makes it look like you every card is handwritten.  I want the client to know that I'm trying to do everything possible for them.  I even make a slideshow sent to music for their listing. 

That all being said, is there anything you guys are doing in the advertising world that you think stands out. Doesn't necessarily mean you are advertising but things that make you look even better. My buddy is experimenting with the QR codes and the text messages for more information.  

Thanks

Yes, if she has the cash all agents will be friendly.  I think an investor friendly agent is one who understands what goes on with an investment property on more than just a theoretical approach.  One with first hand knowledge or multiple investor clients will  be one that will help guide you in your process.  A lot of times, top agents in the area are investors themselves.  They know good deals and they need a retirement plan.  More than anything.

INTERVIEW MULTIPLE AGENTS.  Find one that fits your needs.  I get mixed feelings on things like experience.  I've found that a lot of older people are not as hungry to make a lasting impression and work extra hard for you, while they usually do have the knowledge and the extra insight that is useful.  Meanwhile a younger person that is hungry, will do everything they can for you.  But their knowledge and ability may not be at the same level.  This doesn't mean it's true about all, but I personally like working with people that are hungry to improve their business and help others. More mistakes may be made but they are eager to correct them instead of arguing with you.

I am an investor and an agent.  I'll tell you this, if you want to save yourself the money and the aggravation of dealing with someone else get your license.  However, an agent who knows the investor market in a specific area is invaluable.  Even though I have my license, I still use my agent in New Haven.  He was born and raised there has been helping first time buyers get homes by buying multi families and owns multiple rental properties himself.  More important than anything, he is young, hungry, and knowledgeable.  He is on the same wave length as me and has very similar goals.  So all that being said, when an amazing deal comes on the table, I'm his first call.  I'll send him places I think are good prices but usually he knows about it already and why it won't be worth the time. 

So if I was you, I'd still get my license but also continue to network with agents.  If you find that young guy or girl who is very motivated and looking long term then work with them.  You can always work out a deal with them for your purchases if you have a license. 

When I was looking at commercial properties in my area, I was getting around 8% ROI. The rental properties I go for I look for come in between 15% and 25% Obviously every market is different and it also depends on location and quality. Like my buddy in DC can't find a rental property that really makes anything unless he puts a crazy percentage down. I get what your saying about the lease terms and I'm sure someone who has experience with leveraging this ability can get greater return.

Commercial buildings are more of a rich person's game. What is nice is that a tenant is usually locked in for years do the turnover is less but from what I have seen the ROI is significantly less. So you put out more money in Order to make a lower percentage. If your looking to grow fast rental properties should out produce commercial properties. On a personal level I also like that not all your eggs are in one basket.You can get a few rental properties for the same price and somewhat diversify their location.On top of that losing a tenant hurts less in rental properties.

generally i offer between 500 and a 1000 for them to leave by end of weekend....i justwent through it 2 weeks ago. however i did need to start the process with a lawyer. the deposit was 750 andthe lawyer told nee 90percent of the time it doesn't gothrough full process.