All Forum Posts by: Jason K.

To be clear there is no one living on the property Im interested in.  Its a neglected piece of commercial real estate that hasnt seen action in at least 4 years. I found the owner thru the county records and knocked on the door. Care giver says No hablo.  So I call a number from white pages .com and get another no hablo but this time Im two days into my Rosetta Stone tapes and I respond accordingly. Quierro comprar!!  Quierro comprar!!

She says in perfect spanglish. Owner is 97. No talk on phone and call back thursday to speak w mija.  I responded in perfect spanglish   "ok.  Hasta"

There is a neglected property in my area that could be a great investment. When I contacted the owner I was made aware that they are 97 and not in any condition to speak to me about the property (care giver told me). Is it in bad taste to make another attempt? Is there a way to contact the POA?

I have employees from South of the Border and their licenses are often in limbo. They operate on a foreign license and the states allow this. It doesnt indicate their immigration status. It does prevent them from having to content with tickets and points. Its a bizarre grey area that needs to be closed. 

Id say you should never rent to employees because it weakens the strength of your investments.  Business starts to slide and now the tenants arent paying either.  Better to keep it fully diversified.  

In the long run you need to decide if these people paying the rent on time is enough for you to tolerate their lifestyle.  It sounds like a cultural thing.  You ever been to a Mexican birthday party?  Man there are tias and tios and cumpa from all necks of the woods.  These cultures are not typically litigious so your probably out of the woods on that issue but you may be better off letting them ride out the year. They may be long long term tenants if you tolerate their style.  One of my employees lives with 6-8 other people (all familia) and they have rented the house for two generations now.  They have no doubt paid the landlords mortgage. Dont over look the potential.   Bueno Suerte.

As a recently licensed agent I would be interested to know what an assistant position might pay. Im not in your market but look at that as a poss way to learn the ropes while collecting a check. 

Depending on what you want for experience you may contact one of the local real estate schools. I know they are full of people looking for experience. By creating an aptitude exam and requiring a license you can weed out the less appealing candidates. 

Finally hung my license w a broker and want to send a letter to the 700+ people on my SOI list. I plan to send a nice letter to each in the beginning and then follow up every month or so w a timely informative post card. Maybe one day I'll begin sending emails. No idea how to format the list or what might be required to get the list in a usable form. So far I have the list in excel but the first and last name are not separated and neither is the zip code. I just did a quick and dirty download from my business billing software. I'm sure some formatting needs to be done. Is there an easy time efficient method? Do u hire out for this? Is the formatting consistent throughout diff mail platforms / types. I've been doing direct mail for a decade but a list gets mailed to me and my assistant just addresses the letters. This is both expensive and inefficient. I need to update this as I begin my real estate endeavors. Much thanks ahead of time Jason BK Licensed Realtor Tucson AZ

Its no different than the wholesalers that send letter to homeowners that say "Are you sick of being tied to that property? Would you like to rid yourself of that burden of a mortgage payment?" Call me Now! I can take that headache off your hands in just our days. Its of no cost to you."  yada yada yada. 

A licensed realtor should be ethical but that's advertising and probably covered by free speech.

I failed to pay student loans right out of college and my credit suffered. I was able to built it back up a bit w regular CC payments but it really went up about a year after I got my car on payments. I was told long ago that CC payments will help but for some reason having payments on a larger purchase was more effective. Best to call a credit specialist ( they exist) and confirm this w them. Cars a typically bad places to park your dollars as they almost always loose value. Maybe a fridge or washer will work.

Passed the exams and all that jazz and recently sent in for my finger prints. Looking to sign on w a broker or agency that has a strong training program I've been a contractor for 15 years so I understand business basics and even marketing but know nothing of filling out a contract (sales or buyer) or many of the other real estate skills I'm sure I'll need to master. I read that Keller williams is a great company for training however all real estate companies claim some level of training is inherent to their mission. Can anyone speak for Keller williams or long or Tierra Antigua or any of the millions of others? Anyone w Tucson specific Info? I'm gonna focus on real estate investment and want that to be clear from the outset. I hope to sell some homes, rehab some homes and probably pick up a few rentals along the way. Any thoughts are appreciated.

good job!

doesnt look over done.

Hope it pans out well.

I have a neighbor who owns three parcels of land. There are four units on two of the parcels and one is vacant. Four units and 7 bedrooms total. 

He wants to sell me the properties. Is asking 260k and is willing to finance. 

From tax records I can tell the taxes will be around 4500/ year

The insurance is 1600/ year

Hes talking about a 5% interest rate and is flexible on the other details such as amortization, length of time willing to hold the note, down payment or not and even what I pay per month. 

Any suggestions on how to structure this one? 

Based on local rents I think I can get 25-2700 a month for all four units. 

Ive been trying to come up with an equation that will have me paying around 2k/ mo including P&I Insurance and some maintenance. I plan to manage the prop my self. I will want to refi some time in the near future (3-5 years) so I need to take this into consideration as well.

Any help is appreciated.