All Forum Posts by: Jonathan Greene

@Account Closed you need to try a little harder, bro. Whatever Premium gives me, it gives me. I just fill out my profile, they give you the contact button. I didn't even know it was there until someone mentioned it. You get engagement from people responding, I can't control that. I have several posts that went nowhere, oh well. Why does having a Premium account make that a motive? Click on my website. I only work concierge. I don't seek out investors, buyers, or clients. I basically do my own deals and work on-market for people I know. I literally do not want any business from BP at all. I don't even work with on-market buyers and I put my own flips on the MLS. So, nice try, but keep adding to the engagement that literally no one, including me, cares about. Until I get a check for it, it does nothing but take up more of my time when the post goes crazy.

I also just DM'd a 7th grader on YouTube and he said that throwing insults around wasn't the mark, it was using the phrase Bro. Works every time. I'm such a genius.

@David Pham I actually think that's a Florida soft-serve ice cream. Not sure how it tastes, but I have a feeling it is simultaneously full of itself and very touchy to criticism of its flavor.

@Account Closed yeah, ok. I am a bit lost on your logic. What does it get to me have my profile high up on Bigger Pockets? Is there some sliding scale of money I don't know about. I don't make a post trend, the responses do. Thanks for keeping it going, bro. I have nothing to sell, don't seek business on BP, and am not looking for any benefit from anyone. So...your point?

@Anthony Wick crushed that. I particularly love the LLC question in tandem with Bro, how do I build my team (before I have ever seen one property, skimmed one book, and listened to 4 podcasts)? Finally, someone who sees the whole thing was funny. The spazzy nature of the replies only served to reinforce the Bro-ness of the entire thing. One of the things I hit on that has been overlooked, you mentioned as well - Bro, have a plan. You can't run to the forums for advice when a hot seller is waiting on you. You just burned that lead for the next five investors. I am all for helping other people out, but I am definitely not the one to placate a dumb question by holding a hand and giving a bottle just because someone is new. Just because you are new to investing doesn't mean you can't ask smart questions. There are tons of new investors who are working on smart plans and genuinely want criticism. Bros just want daps.

@Jay Hinrichs Hey, man.

@Isaac S. no, you actually caught me. I've been crying a lot because of this. :)

@Joshua Tessier of course I am not really mad and yeah they can create some good results long-term. In my market what happens is that the push the block value up and then others bank on that as a comp for appraisal and the top keeps going up and up and owners think they are lit now so they refi or do a HELOC. Then as you said a market dip comes and it all goes to crap. But you are also correct, when the dip comes, I'm fine and savvy investors always are because we are holding our extra cash for that big dip. Anyone highly leveraged and following that philosophy gets nailed in the dip.

@Terrell Garren It happens every time. I am an agent too and I can read the buyers for my sellers when they bid too high to start, we know what's coming. All of a sudden a structural engineer says it's a $7,500 fix for "support." We bring in our own engineer and he says it's fine. It's partly because, on-market, the high bigger starts to question how much higher they bid than second place and they create a scenario in their head that they are entitled to some money off. Then, as you said, next up always pops in and closes the deal right away.

In many areas taxes will only go up right after a renovation if square footage was added to the property or a bedroom or bathroom added so the city has to change the card on file. The next year it will get reassessed with all of the houses, but the renovation should be added when the city closes the permits and the C of O is obtained. I would never estimate taxes, especially not as an agent. The safe bet is to go down to the property tax assessor and tell them exactly what you are doing and ask their best guess on an increase, if any.

@Jason White the best way to get out ahead of those new buyers who might ask "what was done to make it X from Y" is to provide a full renovation list as part of the listing package that sits in the house for showings and the Open House. I like for all buyers to know ALL of the renovations that were done, floor to ceiling, soup to nuts. It helps them when they do go back and look. A good buyer's agent will explain this is how REI make money and that you spent a lot of money to make it new again.

@Terrell Garren I am the same. Retail agents always think it's a joke until you walk. I have also imposed this structure:

Offer is X for 24 hours. After that it is X-2% for 24 more hours. Etc.

I was a prosecutor for seven years a long time ago so my hard-line offer tactics go way back. The same as clearing up a docket of cases, it saves us time by making one offer and sticking to it. Once you get known for it, the agents on MLS deals know what to tell their clients. Once they also know you close, just as you said you would, and stand by all your conditions, it becomes much easier.

If I am seller and an investor keeps upping his or her offer when I say no, I will always think there is another ceiling or someone who will just make an offer and walk. The ones that keep up-bidding are usually the ones who try to get that up-bid back during inspection too.

@Eli Gilbert it gets easier. It's the hardest when you only have a couple deals or clients and that makes complete sense. But once you pass and they come back, it's way easier next time.