All Forum Posts by: Jon Kelly

@Larry Turowski I didn't mean to come off as if I'm bashing agents. I understand in most scenarios they add a lot of value and their paychecks are well deserved. 

In my scenario, I found the house that I wanted and scheduled one showing and then proceeded to make an offer and then close. Regardless, my question is, is it possible and worth it not to hire an agent? I know the seller is responsible for the agent's commission, but if there is no commission then they would likely agree to lower the price by 2-3%. 

Any thoughts are appreciated 

Hello, 

I currently own 1 rental property, which I've had for 6 months. I'm continuing to look for additional investment properties. My first question is, what does a typical real estate team look like for those that own 3+ rental properties? Do I need to assemble investors, a property manager, a lawyer, a contractor to work on repairs, etc? I know each of those would come at a cost, but I'm just wondering what others have done to address these needs. 

Second question: What is a typical property manager fee structure? If I invest in another state I will likely hire a property manager. Are property managers typically paid a salary, a certain % of rental income, or some other payment structure? 

Any guidance is appreciated, thanks!

Jon 

Hello, 

Could somebody refer me to a strong background check resource or vetting process? I own one rental property, which I've had for 6 months. At this point my background checks and vetting process consists of searching the internet for any information I can find related to the person's name, phone number and email. As I begin to invest into more rental properties, I believe I need a more effective background check and vetting process. Are there certain websites that I should look into, or any other resources? Any help is appreciated, thanks!

Jon 

Hello BP, first blog post! I've purchased one rental property so far, and I used the traditional approach of hiring an agent. In a sense I felt cheated because my agent had to do minimal work, yet still collected the roughly 3% commission. My question is, do I need a real estate agent in order to close a deal? I know my agent had numerous legal documents for me to sign, but I'm wondering if there is a way I could complete the documents by myself or work with the seller's agent. Typically, the seller would pay my agent's commission, but it could still be a way to lower the purchase price if they didn't have to pay the commission. Any help is appreciated, thanks!

Jon