All Forum Posts by: John Geldert

thanks @John Moore I have been out there a few times already to look at some properties and yes it was pretty much a waste of time, but it is good to get a feel for the area. One of the agents has actually offered to visit the properties to see if it would be worth my time. I will take him up on that offer,

@Andres Piedra thanks for the honesty and realtor point of view. Each agent brings a different skill set to the table and getting different views of the area definitely help!

@Kevin Darrell welcome to Bp. I'm in the same boat. The prices of real estate in Ny has forced me to invest out of state. Investing in a state in which you plan on retiring seems to make plenty of sense, especially if you have family there to keep an eye on it for you.

   For more info make sure to take advantage of the Bp podcasts, There are a few on the topic of investing out of state. I found @Engelo Rumora podcast especially entertaining. 

Good luck with all your investing!

Thanks for the quick response @J Scott 

My other dilemma is that one agent is bery young and brand new to real estate (3 deals in 1 year) who only works with buyers. She does not have much insight on the market and doesnt offer much as to what the consumer is looking for. On the other hand she is hungry and motivated to make a deal, and I believe if I was to list the house (once rehabbed) with her she would work her tale off to get it sold!

The other agent is a much older, partially retired agent. Knows all the market trends and is very informed in all the deals going on in the area. But he is not as motivated, and apparently doesn't work much in the weekends.

I know the money is made at the purchase but I'm still concerned about getting it sold in a reasonable amount of time...

I'm currently looking for properties out of state and have 3 different agents sending me listings,  and some comps to properties I may be interested in, they are mostly forclosures and plenty of duplicates on each list. I have visited properties with 2 out of the 3 agents so far, I have not signed any contracts with the agents as of yet(not sure if I will be asked to). 

    My question is, am I obligated to use just one agent? They are all sending me listings and trying to get me comps. I feel a little guilty going back and forth between agents (almost like I'm cheating). But I also know that I Need to utilize all the resources I can, and having three different opinions and skill sets is definitely very beneficial to me. How do I proceed? I'd like to hear from both investors and real estate agents. Am I over thinking this, is this just part of the due diligence, is it ethical??? Any clarity on this topic is much appreciated.

@Michael Noto great job, Congrats! Did you hire contractors or did you and your partner do the work?

@Kevin C. definitely go with a tub enclosure kit, you can install yourself using proper adhesives and silicone around the perimeter. Other then that only have to drill out two holes, one for shower body other for the spigot. A 4"and 1"hole saw should do the trick.

Hey @Eric DeVito welcome to BP. After finding a home online, walking through the property with an agent and doing some research on the neighborhood, I would than;

•Find some comps

•Figure out the ARV (after renovation value)

•Figure out all other costs, taxes, insurance, utilities, HOA's etc.

•Interview a few contractors for renovation costs

•Hire a home inspector 

•If the deal still makes sense, than make an offer!

But of course before you do all that... Make sure to read "The Ultimate Beginners Guide to Real Estate Investing"!

@Christopher Goldie Welcome to BP, you have come to the right place. Ask plenty of questions and enjoy the wealth of knowledge! Good luck!!!

@Stephen Dominick sorry to hear what a rough day you had! But I completely know where you are coming from. Today I looked at 4 potential investments near Marshall's Creek Pa, the main streets were ok but the unpaved side streets were another story! So this is what I found;

One was a converted trailer, another was a DIY illegal 2 fam conversion, the other was a mold haven and last one showed some potential. Tomorrow I will get some more comps from my agent, speak to my contractor and WORK THE NUMBERS!

Hey BP,

    Need some help, looking for a reliable accountant to guide me in setting up an LLc for a 50/50 partnership. If you are an accountant or know of one who can be of some assistance please respond or send me a PM. Thanks in advance