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All Forum Posts by: Marc Middleton

Marc Middleton has started 8 posts and replied 198 times.

Post: Questions for an Orlando Agent

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106

Sending you a message...

Post: Fort Myers Short Term Rental Property Management Company?

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106

Hello,

Yes I know of someone who is an agent and property manager for vacation homes in that area. Send me a message with your name and phone number and I'll have her call you on Monday.

Post: Referral r.e.agent in Estes park?

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106

Hello!

Yes , I can help you and refer you a top buyer's agent in the area. Send me a PM with your full name, email and phone number and I will have them reach out to you for an appointment to see if you two 'mesh' well :-) 

Post: mortgage broker says i wont get approved to house hack?

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106

Sounds like they are not giving you the 2nd home criteria because its within 50 miles. You can get exceptions if one property is in the suburbs and the other  is in the city or by a beach. But you have to show the need for the 2nd home (i.e I work downtown 50 hours a week and its easier to sleep/live downtown during the week). But if its 2 multi-families, that will be a hard sell. 

Obviously if you put the 20% down, then you don't have PMI, you have an easier time getting it approved during inspection, etc. But if you don't have it, you'll need to get a hard money lender to make up the difference until you have enough equity to cash out and pay them back.

Post: Realtors...why don't they answer their phones???

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106
Originally posted by @Christi Hawkins:

@Dannielle Hoffman agree about the part time agents and I hate it when full time agents put them down. When I first started I waited tables and bartended to pay the bills until I was able to get my business off the ground. The other agents in my office had at least 1 of 2 advantages I didn’t and in some cases they had both, an established business with lots of referrals or a very rich husband who paid all the bills Unfortunately, I had neither and I had to work twice as hard Don’t ever discount part time agents, unless it’s their choice not to work their business full time and in those cases they wouldn’t be my first pick anyway New agents are hungry and yes they will make mistakes. You don’t know what you don’t know but in my case I had the best broker and I was surrounded by people who wanted me to succeed and helped me through it every step of the way I also agree with you about assistants You get what you pay for An assistant refects you and you won’t get much trying to go cheap Spend the money you need to get a good one It will be one of the best investments in your business you could ever make 

Totally agree on having proper training, a good broker, and the ability to work it full-time! (or if you have to work, do something at night like bartending). 

I'm glad to see you made it the same way I did in this business. I actually turned my success into a teaching gig for Florida's largest real estate company where I teach/train/mentor new & experienced agents how to get their business going or take it to the next level (Think: Mike Ferry but on a corporate level). I LOVE helping agents that WANT to be successful and have no problem teaching them to be better in which they will be eventually competing against me on listing appointments!

Post: Realtors...why don't they answer their phones???

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106
Originally posted by @Mark Fries:
I have been trying to contact the listing agent for a 20 acre track in Yulee, Florida..

After multiple phone calls and emails I received an email response that was approximately one sentence long

"its available"....

I have now decided to try to contact the owner of the property directly and cut the realtor out... I know that's not very professional but after the service I got I don't really care!

One of the reasons I got my license in Miami was after 2 years of renting and dealing with lazy agents, I thought 'If they can make it, I can make it'. Fast forward 5 years and I opened my own company and sell $5ML a year. 

When I first got started, the #1 thing clients told me was "I used you because you answered the phone or called me back right away". People laugh, especially in other cities, when I tell them the 'secret' to my success was responding to people and being friendly. Maybe because I'm not from Miami (Born in Philly) or maybe because I worked in Hospitality for so long, but being nice and responsive just seemed like a basic tenet of being a human. 

Oh well for them, many agents since went out of business and blamed it on the economy, too many realtors, language barrier, etc. (I never learned to speak Spanish either) 

To this day I still deal with agents on a daily basis who DON'T answer their phones AND have full voicemail boxes! Its maddening but I remember that one of the reasons I'm successful Is their lack of professionalism, so its a double edge sword that I now embrace. 

Post: Broward County, FL Investing.

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106
Originally posted by @Kenneth Jackson:

Max, what a great post! Thanks for sharing buddy. I’m from South Florida a very familiar with the area. I think you’re very brave to invest there. That said, I’m surprised to see the rents so high there. Good for you.

I just closed on my first tri-plex in Hollywood and I'm dealing with a situation there as well. I secured a VA loan on a property that needs repairs only after I was able to get gap insurance from some smaller insurance provider that I found through my real estate agent. The gap coverage was contengent upon me getting silicone seal to the roof to extend the expected life to at least three years and this had to be done within a few days grace period of the insurance policy being issued. Well, I had a big argument with my agent and the roofing guy she referred to me the day before closing. My agent is no longer speaking to me, I didn't get the silicone seal through the roofing guy but the closing went on as planned. Except now I got an email from the insurance company asking for the four-point inspection with the required roof repairs or the insurance coverage will be cancelled. So now I'm in a scramble to 1) line up an inspection with a reputable roofing company to get an estimate and complete the roof repairs and 2) contact the insurance company to explain my goof and see how I can proceed forward. I'm hoping it gets worked out fairly easy but I'm bracing for the worst.

Hey Ken,

Did you ever get this worked out? I have a client who had a similar situation and I'd love to hear about your end result. 

Also, how's the property performing? What you expected or worse/better?

Let me know

Post: Investing in Condos in South Florida

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106
Originally posted by @Share Ross:

It's a 2/2 condo in West Palm Beach between Belvedere and Okeechobee just west of the turnpike.

It is rented at $1250 per month. The condo fees there are 295 per month and include water, sewer, and trash collection. A nice annual return on investment for any long term asset.

It will likely NOT go on Market.... probably ask around 105k. 

This sounds pretty good to me. PM the details so I can do some research and send to a client of mine.

Thanks,

Marc Middleton

Post: Miami Beach 4 Plex for Under $1ML!! Fully Renovated & Rented!

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106

The ONLY 4Plex on the Beachside of NoBe for under $1Million! This property was completely remodeled down to the studs back in 2015. All units are leased at market value and come with a private parking space! 40 Year Certification Completed! Hurricane Impact Windows throughout, new A/C units, appliances, fixtures, bathrooms, kitchens, flooring, electrical. Easy to manage, owner pays water/sewer/trash but receives additional income from rear covered laundry. Lawn is only $50 when needed, very simple! All units have separate electrical meters. Owner has 1 building meter for laundry/security lights - $25/month! Everything was completed with permits by a licensed contractor. Hurry up and lock this one in before the North Beach Revitalization starts and make money from day 1!!!

Post: Best places to invest

Marc MiddletonPosted
  • Residential Real Estate Broker
  • Miami, FL
  • Posts 214
  • Votes 106

Rod - Great points! 

For #3 - I would expand this to include a place where you know of a GREAT property manager. That is just as good as friends/family nearby, if not better. IF you have none of the 4 Rod mentioned, avoid that area. 

Just my experience of helping investors over the years...

(oh and if you have $150k to invest, only spend $120k or so. Leave yourself 15% for capital reserves in an account for a year)