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All Forum Posts by: Jordan Decuir

Jordan Decuir has started 56 posts and replied 404 times.

Post: Katy Meetup - thoughts?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Marcus Spurlock

Post: Investors in Houston TX, Katy TX Cypress TX

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Hello Marcus Spurlock I'm here in Katy. There is an upcoming informal meetup this Thursday evening that Adam W. arranged. I will copy you on the thread so you can see the date/time. Hope to see you there

Post: Collecting Rent Online - Cozy

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
I have not used Cozy to collect rent, but I DID use it in the application process for my rental and it seemed like a good service. Easy to use and convenient. Ultimately, I opted to not use their rent-payment processing service because I ultimately ended up renting to a more "old-school" tenant that wanted to give me physical checks. After debating internally, I decided to give on this point and allow them to pay me not using the convenience of Cozy or any other auto-pay method. Fast forward almost two years, I WISH we were using Cozy for its convenience. The tenant has actually been very good about timely payment of rent, BUT I still have to make more effort than I would like just to collect, deposit, and retain checks. This is not the biggest deal at this point since I only have one rental property, but I can see that if I had any additional properties for which to manage rent payments, this would get old SUPER FAST! In my opinion, go with Cozy or at least an auto-pay option offered elsewhere

Post: How much should I pay a renter's realtor?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Walt Dockery Matthew Olszak I Don't generally disagree with the points that yall are making. I recognize and agree that most renters in the market for this particular property were not using agents, but, for me, it wasn't worth missing out on a handful of potentially-qualified prospective tenants on a long-term lease to save one-half month of rent. Especially if by deciding to allow agents to bring potential renters in, I were to reduce my days on market...holding all else equal, in the event that I did procure the ultimate renter through an agent, all it took was 14 days of incremental days on market to reach a "breakeven point". Also, there was no question that I had a larger pool of prospective tenants from which to choose. This was a business decision that I would make each day of the week and twice on Sunday.

Post: Katy Meetup - thoughts?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Awesome Adam W. ! I am in. See yall there

Post: How much should I pay a renter's realtor?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Walt Dockery your Point is well taken as well. And my experience marketing my own property was similar, lots of interest and activity very quickly, of the 20 or so prospects in the first two weeks, only 3 were brought in by a real estate agent, and the first applicant that met my criteria was one that was found through my own marketing/showing efforts so I didn't pay any real estate agent anything. But, I was opening up what I had to sell to a larger group of buyers, and in the end I only had to pay an agent a commission if their client did business with me, so in my head my approach put me in a better position. I would ask anyone who would not consider offering a commission to a real estate agent until "they feel like they are in trouble" in getting their place rented, at what point would you realize that you were having issues either getting the property in front of enough qualified prospective tenants before offering to pay a commission to an agent representing a prospective tenant? Would it take two weeks? A month? Two months? (All of which represent missed rental income for that period of time PLUS headache, worry, stress, etc...

Post: How much should I pay a renter's realtor?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Matthew Olszak Fair point. But my point is that that agent COULD be bringing the buyer (or lessor) that would have never known about or visited your property had the realtor not shown it to him or her. As a realtor, would you not offer to split half of your commission on a listing to a realtor that brought a buyer to the table? I recognize it is not the same, but it is similar conceptually

Post: How much should I pay a renter's realtor?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
I will provide the counter-argument to the prevailing consensus here...opening up the property to a wider audience of prospective tenants will more than likely get your property rented faster...if your property sits unrented for an incremental two weeks (and you forego one-half month of rent as a result), did you really come out ahead by not offering to pay one-half of the monthly rent to a realtor that would have brought a qualified tenant to the table? This is and has been my approach to the subject

Post: What do you think of this Deal? (Memorial area flip)

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Definitely what Jennifer Harding said is important, especially for a higher-priced ARV such as this one in the Memorial area. Make sure the comps are based on SOLDS not ACTIVE or PENDING status.

Post: How much should I pay a renter's realtor?

Jordan DecuirPosted
  • Rental Property Investor
  • Katy, TX
  • Posts 417
  • Votes 171
Similar to your situation, I handled marketing, showing, and leasing my own rental property as well. So that I didn't squeeze out the significant portion of potential tenants that use a realtor to find rental homes, I offered to pay a commission of one half of the first month's rent to any realtor that brought a tenant to the table that ended up renting the property. I had several realtors that showed the property to their clients as a result, though in the end I actually procured the tenant thru my own marketing efforts. But in my opinion it is a good idea to offer a commission to realtors to bring tenants to your property, otherwise you are leaving out a significant portion of the total population of potential tenants for your property.