All Forum Posts by: John Clark

I never said it wasn't. I mentioned buyers brokers not showing houses to their clients because they thought the commission split was too low. I think you confused my quoting Brown's posting as my own work.

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Quote from @Caleb Brown:

Quote from @John Clark:

Quote from @Caleb Brown:

3K flat fee is reasonable. An agent is going to spend the same time on a 72K listing and a 200K listing. Our brokerage charges $495 to the broker/admin fee. Some agents will do 3% but asking anyone to do 5.5%(2.25 to each side) is not going to be attractive. I would focus on finding an agent that knows what they are doing and will get it sold, not on the cost.

"Some agents will do 3% but asking anyone to do 5.5%(2.25 to each side) is not going to be attractive."
-----------------------------------------

Which, thanks to brokers fulfilling their fiduciary duties to their clients, would never be a problem, right?

Duh. I am saying as a listing agent I would not take on a listing at that price point offering 2-2.5% for a buyers agents on a 72K listing. Others agents will

That's perfectly understandable at that price point. One can always refuse the listing.

Problem we get is when buyers brokers won't show because they don't like the commission percentage.

2 Votes

Quote from @Nicholas A.:

So I recently posted about how many realtors to contact and work with. Thank you for everybody thats helped me so far.

I have spoke with about 4 of them.

They all say they will be on the lookout for me, and they are experienced realtors.

I did however get one from here, bigger pockets, and this realtor hasn't worked with investors before, but

is asking me to sign a contract so I am working with them exclusively.

The reason I am asking what to do, is because this realtor with the contract is very new, but I heard that most

realtors will ask you to sign one if theyre serious. Should I keep looking, or try to work with the more experienced ones, or sign with the

newer realtor?

Personally, I'm waiting for the lawsuit by a seller against his own broker for refusing to vet a potential buyer and then show to a qualified buyer. It's a breach of the broker's fiduciary duty to his client (the seller) to bring in as many qualified buyers as possible in order to get the best price possible.

Private agreements by the NAR will be no defense unless in the listing agreement between seller and broker. As for brokers saying "I don't work for free," they'll be paid out of the seller's agreed commission. Also, they won't be representing the buyer, so no drafting contracts or the like, just vetting and showing.

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Quote from @Caleb Brown:

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Quote from @Joseph Alfie:

Hi everyone,

a deal came across my desk. Any feedback on investing in the south side of chicago? is it as bad as we hear it is.

The property is located around Greater Grand Crossing Close to E 71st street and the 94 highway.

Greater Grand Crossing is violent, even by Chicago standards. (eighth most dangerous). Go to a place like West Lawn (NOT Woodlawn), or West Elsdon, if you want South side. Do you really think you have the skills and experience to handle a D (at best) neighborhood? Don't be a fool.

1 Vote

Chicago, Illinois

Quote from @Delfin Fernandez:

I own a house that i rent in Miami dade florida.My tenant wants to get a dog. The dog is an aggresive breed (pit bull or dogo argentinian).Am I liable in case of a dog bite just because I allowed an aggresive breed or do i have to be aware that the dog acts aggresively regardless of breed in order to be liable?

D.F

Check with your insurer, and adjust accordingly. Also demand proof of insurance from tenant as yo insurance and add you as additional insured. Do not allow dog until proof of insurance with you as additional insured given.

also, keep in mind you only need to provide reasonable accommodation.

1 Vote

Miami, Florida

Quote from @Raymond Kalonji:

Hello,

I have decided to welcome section 8 applications for my rental, but I'm wondering if my screening criteria listed below are unrealistic for applicants:

- Minimum credit score: 640.

- Minimum household income: 90,000 $USD per year (Can be waived with Section 8 or HCV voucher).

- Minimum rental history: 2 years (please provide references). No eviction in the past 2 years.

- Minimum work history: 1 year (please provide references and pay stubs for the past 3 months; if self-employed we can discuss alternatives to paystubs).

- Criminal, eviction, employment and background check

- No guarantor outside of household

Thanks in advance for answers

Gross income should be 3x rent, or whatever your locality allows, with the section 8 counted towards that income. So if rent is $2k month, gross income needs to be $6k per month. If section 8 pays $1,500 a month, then other gross income sources in the above example (if 3x income ratio is allowed) need to total $4.5k per month.

2 Votes

Dallas, Texas

Quote from @Rory Darcy:

Hi guys my name is rory, pretty new to this im an out of state investor residing in new york, looking to invest in wisconsin and illinois, currently looking to build my portfolio around multi family duplexes or single family residencies, would be great to connect with like minded investors or agents who can lend a hand.

Rookie investors should not invest out of state. PERIOD. Stay hyper local.

As for investing in Illinois: Get your head examined. You are clearly not thinking, especially as an out of state rookie.

1 Vote

Quote from @Kobe McDaniel:

How do you get Boomers to sell who are sitting on multiple properties?

Depends on their health and any desire they may have to simplify. Your problem will be them incurring capital gains taxes simply so you can get a commission. They will want to pass on the stepped up basis to their descendants and you want them not to.

1 Vote

Seattle, Washington

Quote from @Bruce Woodruff:

Quote from @John Clark:

Quote from @Eric Bilderback:

Quote from @Bruce Woodruff:

Quote from @Eric Bilderback:

I hear people say it from global warming all the time. I don't believe anyone can look at how forests are managed and come to the conclusion it must be global warming. Maybe I'm wrong but that is my perception of the Burr and the public in general. If that wasn't the publics opinion we would have a ton more great jobs in Oregon and many other places.

What would be acceptable if there wasn’t global warming is not something you can get away with now, because there is global warming. It’s not a binary cause. Global warming now is the nudge for a lot of fires, hurricanes, etc. it will soon be accepted as the primary cause. If something is not all white doesn’t mean it’s all black.

I thought you guys were calling it climate change now? Because it is always changing, but not always warming.....gotta cover your bases y'know....

The message is the same, you tailor for the marketing. For those of a scientific bent, one says global warming. For those who think ideology counts as a bona fide fact, one says climate change.

0 Votes

All Forum Posts by: John Clark

John Clark has started 5 posts and replied 1305 times.

Post: Commission Fees for Buyer/Seller Agents

Post: Commission Fees for Buyer/Seller Agents

Post: Realtor Selection Question

Post: Commission Fees for Buyer/Seller Agents

Post: Investing in south side chicago

Post: Dog Liability advice

Post: Are My Screening Criteria Unrealistic for Section 8

Post: out of state investor wanting to invest in wisconsin or illinois

Post: How to get Boomers to Sell

Post: Failed Leadership is why California is on fire.