All Forum Posts by: Jesse Tsai

HOA Resale and Demand fee are expected on the seller side. The seller is legally required to pay for the resale package.

Document storage,  transaction fees, or any other similar fees are extremely common.  However, they are also negotiable. 

I use onlinejobs.ph. I only hire full-timers that (hopefully) work only for me full time. The VAs there are individuals in the Philippines that work from home. The skills and desirability are wide ranging, though I've found a sweet spot around $3.50 per hour or about $550 USD per month to get descent quality VA's. $3.50 is more than just about what everyone else pays, since most people pay around $2. This attracts more applicants so I can pick the best one.

I prefer Filipinos because they have a culture of loyalty, a strong command of the English language with an acceptable accent, and a relatively descent education level.

I've found the key to employing VA's is the initial screening process and how well you train them. For screening, I make sure to make the application a multi-step process that easily gauges their ability to follow detailed instructions.

An example would be to email the resume in a specific format, include a specific subject line, include a certain thing in the email, include a voice recording of specific length about a specific and random topic (so they have to record one just for you).  Then i just create gmail filters to filter out the emails that don't meet the requirements and auto respond with a rejection.

I would do nothing till a demand letter or claim comes. If or when it comes, tender it to insurance.

Im pretty aggressive about using credit card spend for travel hacking.   For Lowes / Home Depot spend, I'll usually stack a 10-15% off coupon with discounted gift card purchased with a card that generates the travel/airline point that I need at the moment.

Typically, Ill get 15% off with coupon, stacked with 4-7% off with discounted gift cards, stacked with a 1.5-2% reward from the credit card spend.

Heres a recent one I completed in Las Vegas:

3 bed /2 bath ~1700sf single story

Purchase Price + closing costs: $169K

Rehab and holding costs: $ 18K
Sold for $215K
Closing costs: $2600

Buyer agent commission: $6400
Profit:  $19K

Most of the rehab was pretty light, consisting of flooring, painting cabinets, countertops, appliances, and replacing an AC unit.
Margin was a bit tight, however, the light amount of rehab and the quick turn made up for it. 

Netco Title is really good at investor transactions. I send all of my transactions to them.

Ask for Danielle

I can't post a phone number,  but their address is below.   Use Google to find the rest. 

6280 Spring Mountain Ste 100

Las Vegas NV 89146 

@Jason E.

I think your ARV on the first property ( Siler) is a bit low. A model match comp sold for $120k with a 2k concession. Nonetheless, the buyer did pay a price that would likely be unprofitable if they sold today for 120k repaired.

On Emmons, I think the buyer got a descent deal, and I would have purchased it around that price range.

I think the buyer based their purchase price on an ARV of around $135k

There are a couple of comps that support that price, including 1713 Arther, 3201 Tonopah, and 2617 Reynolds.
In addition, that neighborhood has an absorption rate of about 40 days for properties that size.

 

You determine ARV of a house by looking at comparable properties in the neighborhood.

Generally, sold comps are more valuable than contingent/pending comps, and contingent / pending comps are more valuable than listed comps. However, all the comps do factor into the ARV.

Generally, you can hire an inspector before you buy. This will depend on the purchase venue though.

I just completed a deal with a similar situation. I closed on the property cash, wrote up a lease and leased the property to the seller for up to 30 days. The lease had a higher than market rent rate and a security deposit, which was debited from seller funds at COE.

To get sales and listings, you need a pipeline full of leads.

Getting leads either takes time/effort, money, or a combination of both.

Most cost effective way IMO is doing open houses at properties, cold calling, knocking on doors, and letting all your coworkers/family/friends know you're a real estate agent, and to please let you know if they or anyone they know wants to buy or sell a home.

It all boils down to generating leads.