All Forum Posts by: Marc Winter

@Jennifer Gill, unfortunately, the DNC law looks great on paper. But effective?  Well, not so much. 

Issue:  computer-generated random phone numbers for outgoing calls.  We can block all we want, the same entity will be using a new and unblocked number.  

Insidious.  

But with challenges come opportunities.  Maybe some AI pro can provide a solution?  

@Alecia Loveless is correct--tenants need access 24/7 to their electric service panel, water and heat, assuming those are individual utilities for each unit.  (So do emergency services!) 

Frame out the wall and use plywood for the siding.  Keep the wood (or sheetrock if you choose) an inch or two off the floor to not wick water.

Hi @Connor O'Brien, 

Using the words 'targeting' and 'Section 8' in the same sentence?  (I wouldn't use that first word at all, just me.)

To your question:  keep the listing at market rent.  You can negotiate price if necessary.

Hi @Nathan Gesner, does 'balloon' = 'umbrella' insurance?  I've used an umbrella policy to cover our rentals for some time.  Never used it.  

In 30+ years we've been sued 1x (legal blackmail over a tenant's drunken trip/fall) which the insurance company settled for $1,500.00).

We've been using some privacy tactics to keep our names off the county recorder and the target off our backs.

Further, we review our insurance coverage and premium annually, just to keep on top of any changes.

As with all insurance, it seems to be a waste of money... until you NEED it!

There is a set time for the agreement, so if you can't give 30--45 days for the agent to find you the right deal, or don't trust they can/will, then move on to the next agent.

By entering into an agreement with the agent they become your fiduciary, and as such will represent your best interests.  This has become increasingly popular after the suit settled 2024 with the National Association of Realtors regarding commissions and client representation.

see article:  

https://www.cnn.com/2024/03/15/economy/nar-realtor-commissio...

Good luck!

Feeling uncomfortable with sellers stems from some kind of fear.  Fear can be overcome with exposure.  Face the fear--get yourself in front of more sellers.

Little by little, your presentations will become more comfortable, and your success rate will increase.  

Don't focus on "no".  Rather be thankful for that "no" because it is bringing you closer to the 'yes' you want. Just keep going and moving forward. 

Of course, a skill like that is marketable! 

Partnering with a wholesaler sounds fine, but check the real estate licensing laws in your state before bringing a buyer for a commission.

You might consider getting your real estate agent's license and legitimately earn what your skills, drive, and experience truly command.

Yes, check w attny as per @Ben Trageser.

Also, see if you can negotiate with the seller to get the illegal unit delivered vacant on closing.  Or else reduce enough on price to deal with an eviction from an illegal unit.

I don't know Chicago laws, but in NYC if you have an illegal unit, the tenant occupying it seems to have more rights than the owner does and doesn't have to pay rent...  ohhh, it's a giant mess.

Be careful.

Seriously interested!  Please let me know if/when this will happen.  Although I'm local to Mt. Pocono, I agree with most posters about Zoom, at least to start.

Absolutely get your license!  (Only if you are SERIOUS about real estate as your wealth/career vehicle.)

Make sure you join a brokerage that is large, established, and has a reputation for top performance and excellent training.

Once you learn the basics and get out into the field to see the state of the market, you'll learn the price points and be able to know a good/great deal when you stumble across it.

I have made some of my best (most lucrative) buys from meeting with a seller who wants to list, and when we discussed the price, I knew it fit my parameters, so I bought it!  First one on the scene is a great position to be in.  

Just remember to always keep your client's interests ahead of your own, be transparent, and keep investing and moving forward!