All Forum Posts by: Jose Batista Abikarram

Looking at house in East Rochester NY and looking for quotes on the rehab. I will have access to the house on Wednesday 11th at 3:30 pm. Anyone that knows someone willing to look at it please comment here and I will contact you directly. I will offer $50 for every bid I get and half will be payed as soon as you make it to the house. Other half I pay once I get the bid. 

I don't have specific questions but maybe a few suggestions that would help. Before talking with someone have a plan and if it helps write it down. I have found that even as an extrovert I make better conversations if I "simulate" what I will be doing before I do it. When I write it down it makes me less afraid of forgetting and therefore better at remembering. Always start with the person your gut tells you to talk to. You will be more comfortable and natural. Finally get a beverage in your left hand so you avoid moving your arms (I am very good at looking like a windmill machine lol) and now you can shake people's hand with your right arm.

Good luck and happy networking!

@Dominique Palmer well according to my mortgage I can only do long term leasing of the units in my apartment. Therefore if I rent it to a third party for long term and then they are the ones who do air b and b it is technically legal (maybe it isn't I am not a lawyer but I think its a good theory) 

There is usually two extremes of this. If you have a landlord that has great skills at property management is unlikely that they will even listen to you. However there are a few of them that want to minimize vacancies and have low maintenance tenants. You are effectively becoming the manager of their property and instead of them giving you an 8% you are collecting your percentage from the air B and B. Say that you will be the manager and they have nothing to worry about so it’s easy rent. I know I would do it on a heart beat because I know the advantages and as an owner I cannot do short term lease. 

Find a focus that interest you, study it and be good at it. With a general question like this is hard for other investors to help you. One thing that I have learned in my limited time doing REI is that the riches are in the niches. So instead of asking for general tips ask for tips in the market you want to be at and the specific strategy you plan to use. If you look at all the deals possible you will lose too much time looking and very little doing deals.

Hello @Stephanie Money. Being young myself I’ll tell you the most common one and how to be prepared. People will say no even if you prove them you are ready. My recommendation is to simply ask kindly why they are saying that, take note learn from it and then go to another professional in the field and say what that person thoughts you. By the time I talked to my third lender they were a lot more willing to negotiate and take me seriously because they saw how serious I was!

Thank you @Abel Curiel and @Account Closed for your quick response. It’s what I thought but sometimes knowing the perspective of other people makes you decide the best next step. Agree that if it’s my effort I shouldn’t pay for it

Here is the situation

I bought my first house with an agent and they were really good and I would like to use them again. However this agent requests you to sign a contract with them basically saying that anything you find should be disclosed to them (In or out of the MLS). Knowing that this was my first relationship I agreed with this term since I understand they only make money when a house is closed. After establishing my relationship and closing successfully I wanted to ask them to consider helping me with all deals found in the MLS and they would get a higher % than normal, but if I found one by myself out of MLS (direct mail marketing, door knocking, etc.) I would do the negotiating and they would not get their %. Even after a relationship and proving that I could be valuable they rejected this request and said that it only works if I do all deals with them.

Am I wrong to think that this is a bit too much, or are all agents expecting to reap the benefits of a client’s research? I want to know the perspectives of the agents and relatora here. Maybe there is something I’m missing!

I agree with @Doran Summers and would add that you can find good ones by either asking for references in your local REIA or if you feel very extroverted you can go early to a Home Depot with a box of donuts and get a few contractors talking to you. Good luck and keep at it!

One idea I heard was to do a x star program where x is the amount of years you are targeting your tenants for. You put in place (if legal) an automatic renewal and at month six you offer a free “improvement of their choice” in the house at the end of the lease (select from a list you provide for things you know are getting old). Then at the year you give the improvement and they stay. After x many years of being in your place you can offer giving them $100 back of their security deposit. Call it your VIP program or something like that. That’s what I plan to do!