All Forum Posts by: Marc Middleton

Given how long it can take for the payoff, (5th round?) you could have scooped up a bargain elsewhere from a motivated seller, an HOA under law suit that's almost finished, a pre-foreclosure, an actual foreclosure, etc.

The time and money it takes to try and get 1 seller that 'might' give you a bargain. 

Again, I can't speak to Maryland Real Estate. Ken is from Maryland, maybe its more common. In Florida, its few and far between, but we are in a very hot market though...

Hi,

I use an excellent title company in Broward that reps my investors all over the state of Florida. Send me a Private Message and I will give you their info. Cheap fees, quick turn around, easy to get a hold of, etc.

Best of luck!

I would pick 2-3 metro's that interest you the most and hire realtors in all the markets to find you deals. I don't know how much the direct mail campaign is going to work for you in this market.

Make sure you focus on investment agents -people who can rattle off ROI/NOI numbers on properties like its their birthday.

Trust me, those agents will work round the clock finding you deals and save you a ton of time! (which, at the end of the day, is your most valuable asset!)

FYI I know of 2 lenders that can do that loan for single digits (probably 8% with the same points and LTV).

Message me if you want them to reach out to you.

Oh, and use the HELCO as gap financing...always leave yourself an out in this business...

The Fannie mae/ Homepath properties are always As-Is and you have to use their title company. You can still have a lawyer REP your side of the deal if you want and they require you to use a realtor. So if you don't have one in your state, be sure to get one that has done fannie mae deals before. They get paid by the bank so its free to you to use. (if you need a referral, just reach out to me privately).

Fannie isn't going after people's deposits but they are firm in their dates, so don't mess around with your closing date and deposit dates.

Best of luck!

I think that's a great idea if you are going to live next door and manage it yourself. Once you start hiring someone to book rentals, clean it, manage it, etc. you lose that extra income and then it makes better sense to rent it long term.

Most of my clients who do the AirBnB route manage it all themselves and either have a reliable cleaner on-call or do it all themselves, pocketing the 'cleaning fee'. Also, since I'm a broker in Miami, I have a lot of out of state owners so they tend to hire people to do more things. I can't speak to their ROI but its still better than annual rental.

BUT, that's Miami Beach. I don't know how Austin would do. If you are relatively close to all those events you mentioned, you should do well. As long as you price it cheap enough, you'll get lots of bookings/inquiries.

Be sure to rent it on VRBO/Homeaway as well and rack up the positive reviews. Then you can start raising the price once you have 10+ 5star reviews.

Don't be afraid to leave them some $3 Trader Joes/Aldi wine as a welcome gift too - that'll guarantee your positive review :-)

Best of luck!

There is no better training than Coldwell Banker. I am a broker and now teach for CB, its amazing. We even have Keller Williams agents come in and are very impressed despite their high rankings for education. Send me a message with your contact info and I will have a broker from the Buffalo office reach out to you and setup a meeting so you can see all the benefits.

Good luck!

Hey!  I'm that person Alejandro :-)

I have been specializing in Multi-families for years now and help investors buy & sell all over Florida. I also just listed a 4-plex in Miami Beach this weekend!

Let me know if you'd like to connect. I just sent you a PM...