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All Forum Posts by: Jonathan Greene

Jonathan Greene has started 261 posts and replied 6374 times.

Post: Negotiating within wholesaling

Jonathan Greene
Professional Services
Pro Member
#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477
Quote from @Jonathan Grzeszczyk:

I agree that the motivation and problem is the core, but the first question is always where are you going when we come to a win-win agreement for you to sell me your house. There is a problem, but they always need somewhere to go and will never sell until that is clear and the path is set. You have to help with that to make deals happen.

 Great point. I've briefly thought about that, where the seller will be moving on to. With your point, it seems like living security of 'where's next' for them will be the biggest obstacle for the seller to overcome. Is it a normal practice to have a deal set up where you find a new place for the seller to move to?


If they have nowhere to go or don't know how to find a next place, and no relatives who are helping them, you will be the only person that goes the extra step to help (even with advice) which means you will get the sale at a better price and help someone.

Post: New rental - attracting a qualified tenant

Jonathan Greene
Professional Services
Pro Member
#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477
Quote from @Jessica Kiely:

Thanks for the helpful advice @Jonathan Greene. What application screening service is reliable? For improvements to our process, I’ll say yes to all showings and update and reduce the # photos. Thanks again!

 

We use RentSpree. I like it more than others because the prospective tenants can upload all of their docs into the system and it auto checks things and auto emails their recommendations to confirm.

Post: New rental - attracting a qualified tenant

Jonathan Greene
Professional Services
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

Zillow applications aren't accurate or fully vetted, so I wouldn't bother with them. If you are listing it yourself as a landlord, a lot of landlords don't want to show it a lot (lazy) so they get few applications. Rental Open Houses don't work, but you can create a modified Open House by creating response texts that go over the requirements and then put all showings within a two hour block so you don't have to go so many times. If you aren't getting a lot of showings and it's on the portals, it could just be the holidays. If it doesn't pick up by mid-January, you are priced too high.

You have WAY too many photos and they are almost all bad angles and not helpful. You don't need so many photos of blank bedrooms as you can't even tell which is which. Most of the photos are hard to tell where it is and they are all crooked or chopped off. There is a splotch on the floor in one and what looks like a missing cabinet which is probably not helping.

Post: Why You Need a "Deal Killer" In Your Life as a New Investor

Jonathan Greene
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477
Quote from @Joe S.:
Quote from @Jonathan Greene:
Quote from @Joe S.:
Quote from @Jonathan Greene:

The adage about who you surround yourself with is accurate. The five people you spend the most time with will influence you. But as a new investor, sometimes this advice leads you to only have cheerleaders in your life. Don't get me wrong, cheerleaders are essential - they make you feel good, are always there to lift you, and cheer you on no matter what. The only problem is that last part - no matter what.

Every new investor needs a "deal killer" in their life. This is why:

1. A deal killer is a voice of reason when you are emotionally attached to a shiny object (it could be a property or a new guru course).

2. A deal killer has no emotions. They are focused on the numbers and your well-being when you aren't.

3. A deal killer has nothing to gain from telling you it's a bad deal. (For this, your deal killer can not be a direct competitor. You must have built the trust to know they aren't telling you it's bad so they can take it. Real deal killers don't do that.)

4. A deal killer doesn't shy away from conflict. When you are new to the game, agents, wholesalers, other investors, and even you can push you around. A deal killer doesn't mind hopping into the fray and telling everyone the truth.

5. A deal killer has the experience that you don't. They can see the things you are missing because they have missed them before and they know what happens when they do.

So, make sure you have those top five in your life. The ones that motivate you and keep you on track. But don't discount a deal killer as negative when they only work in your best interests. When you are new, you can be your worst enemy (due to lack of knowledge, ego, and FOMO).

If you are new, do you have a person who tells you that some deals suck?

If you are experienced, how important do you think it is to know a deal killer?


 Where would somebody find such a person that even gave a care???? 


I would say no-pitch meetups over a year would be the best possible chance to find someone who can be a voice of reason in your investing life if you don't have one. What do you think?


 I’ve been to a number of meet ups over the years, but I’ve never been to a no pitch meet up. It could’ve just be my personality, but I always felt a little reluctant to be extra friendly if the other side did not reciprocate. The meet up I went to a number of times in San Antonio was more for the benefit of the owner of the meet up. It was the same for the meet up I went a number of times to in Austin as well. 


That is the trend. I've been running no-pitch meetups since the pandemic where we started online and it takes a lot of vetting and not over-promoting. We don't allow hard money lenders, only the sponsors (real estate attorney, title company, and my lender) and they don't pitch either. There are no speakers or presentations allowed, just networking. I go around and try to connect people based on what they like and in January we are starting a 30-minute speed networking where two people sit across from different people for 10 sets of 3 minutes with topics.

There is another good one near me too where they do presentations and also no-pitch. They do exist.

Post: Rent Collection app

Jonathan Greene
Professional Services
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

All of my landlords we have using Azibo and they all seem to like it and haven't had complaints in over two years from them or from the tenants.

Post: I Had A Question For My Fellow REALTORS!

Jonathan Greene
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

By hosting open houses? No

Doing cold calls? No

Joining meetings? YES, but don't push your agent business. Be interested, not interesting and ask questions. What do investors like to talk about more than anything? Themselves.

How do I find the investors to line up with my deals?) You do it by building relationships over time and being an asset to investors. They all know 100 realtors and get dumb calls from them every day. What makes you different? Can you find off-market opportunities for them? 

Post: Discrepancies with public records

Jonathan Greene
Professional Services
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

Yes, you should be concerned, but you aren't looking in the right place. Call the town and ask what they have on the town card for bedrooms and bathrooms. Your main concern should be whether these bedrooms and bathrooms on the lower level are legal and have the proper egress require for fire code and livability. Realtors know nothing most of the time and will sell you anything with unpermitted stuff. Make sure you do an OPRA request to check for open permits and confirm with the town whether the 2/1 below is legal and permitted.

Post: Rob Scott Neophyte Rental Investor

Jonathan Greene
Professional Services
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

A great way to get started is to go to local real estate investor meetups and meet other investors. You have a skillset that could be extremely useful for quick fixes and landlord issues and from there you can bridge relationships and partnerships to enhance your knowledge of real estate investing and couple your skills.

Post: Services Business to offset W2 income tax

Jonathan Greene
Professional Services
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#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

Read Main Street Millionaire by Codie Sanchez. It just came out this month and will hit every question you have about that in my opinion.

Post: Multifamily Properties in Indianapolis

Jonathan Greene
Professional Services
Pro Member
#5 All Forums Contributor
Posted
  • Real Estate Consultant
  • Mendham, NJ
  • Posts 6,579
  • Votes 7,477

Look up Michael Drew (Real Estate Done 4 U). He is based in Indianapolis and works with a ton of OOS investors. At worst, he is a great resource for Indianapolis. Following the team at DealMachine would help also because they are based in Indianapolis.