All Forum Posts by: Jonathan Scott

Thank you all for your advice. I think Michael point about buying the house with enough margin to allow for a Realtor's commission on the back end is right on. I'll also check out the customized signs websites and the 5-day method in Effros's book.

Thanks

First of all, "Happy Birthday"

It's great to see you starting in the business early.

Andy Heller and Thomas Lucier have written good books on the subject of options. Heller focuses on lease-options to sell properties he buys. Lucier's book covers buying and selling options for profit.

Good Luck
Jonathan

I would like to sell properties without a Realtor and save some commission. I know that a Realtor is a valuable part of an Investor's team but frankly, I've struggled to find a good Realtor to sell 2-6Plex buildings. Most want to load it on MLS and Loopnet and then they sit back and wait for a call. I expect more when paying $25K in commission, but it seems more and more Realtors want to list properties and have others sell them.

I'm also realistic though and don't want to sit on a property for months trying to save a commission so I'm if you have past experience selling your own properties I would really appreciate your insights as to what worked and what didn't.

Thanks for your help,
Jonathan

Hi Zboy,

If you are fixing and flipping, carpet will give you the best return. This assumes that carpeting is the norm for other similar houses in the area of course. Carpeting is fast and cheap. Floor prep is minimal and new wall-to-wall carpet looks and smells great.

Jonathan

Hi Susan,

While I don't know the going rate in your part of the country, I agree it seems high. In addition to the monthly fee, there may also be an initial set up fee which could equal a month's rent.

I would recommend contacting the REIA in the town where your rental is and get some referrals from other local investors.

Best regards,
Jonathan

Hi Michelle,

Are mobile homes a good investment and if so, why?

How are they titled?

Thanks,
Jonathan

You know the banks are the ones choosing to increase rates on the variable loans. They could just stop and help their customers stay in their homes. I guess getting a modest repayment of the loan isn't good enough for this greedy bunch.

David Finkel's book "The Real Estate Fast Track" is good. I like the "Deal Acquisition Strategies" and "Negotiating Strategies".

Hi Andrew,

First of all, you've got to go into these things with a winning attitude! Second, make a realistic offer that you can close if accepted. Jon is right that most Realtors deal with people buying their primary residences rather than investors so make it clear to the Realtor that your offer is based on you making a profit. Don't apologize for that but don't get too greedy or your offer won't have credibility and you won't be able to build a long-term relationship with your Realtor.

Chris,

It's a good idea to find potential buyers first. Find some good deals and turn them quickly for a modest profit. You must build a reputation of someone who can deliver and isn't greedy. Speed and volume are the key. Holding out for the big return doesn't usually work.