All Forum Posts by: Matthew Spyker

@ Gary and @Omar I’d like to connect with you both. Up and coming investor, I need a good whole waking network. My wife is a Realtor and I’m also an agent, full time Coastie. Looking for multi family, class C cash flow properties or flip projects, class B and C throughout Hampton Roads.

Don - I’m also in the Hampton Roads area. I’d be interested in communicating further about some of your wholesale activities. I am looking to develop a support network here.

Rick - I would advise you to keep the other tenants of out the situation. Don’t use the neighbors complaining as an excuse to correct the situation. You are setting up both tenants for failure. If you are the property manager, own the situation and feel nd a way to bring it up yourself. Like “Hey I dropped in the other day just to make sure you were settled in okay and there are no issues. I noticed a strong smell of smoke and some cigarette butts out or whatever other evidence. I just want to let you know smoking is forbidden inside the property and ensure you know the rules. Please pass onto any guests that may be dropping in.” I don’t recommend approaching the situation yet based on complaints. That just creates tension between neighbors. Manage the relationships and keep them healthy if you can. As for the girlfriend, if she stops smoking in the building, is there really a problem with her staying over? I wouldn’t want to act like someone’s parent if you otherwise have a good tenant and they are taking care of the place and paying rent. My renter has his girlfriend stay and she’s OCD clean. I actually like the idea of her being there despite now being on the contract. As long as he keeps paying and she keeps cleaning, the cool with me. If the situation goes south, then maybe pursue others means or suggest that your property may not be the best place for him. You can always motivate someone to move without having to be hostile or end up in court or seeking eviction. Just set your terms and stick to it. Follow up with a certified letter acknowledging the discussion and your terms regarding smoking in the property. And if outside, clean up the cigarette bites, only outback, not front or something of that nature. Or not on the property at all. You definitely need this in the lease agreement though.

Noelle - I think I know what property your talking about if it's in Norfolk. Completely remodeled, new roof, appliances, windows and HVAC. If someone already flipped it, chances are they want there money for it. It's a good property if you're looking to live rent free (or almost) and have someone pay your mortgage. If your looking for a deal though, I don't think you'll get it with that property. Look for something you can flip and rent or sell. 

Sage Contracting in Yorktown VA. Depending on where you are and what you're flipping.

2 other options to consider. Find a local Carpenter that custom build cabinets. I've found it cheaper than many of the RTA places. Wood and MDF don't cost much. or buy a Festool Tracsaw, and make then yourself. Get straight factory cuts. Use a Jeg pocket screw thing-a-ma-doer and build the boxes, order the doors if your uncomfortable building those. Way cheaper than both option and you'll learn to do it, again and again savings thousands. Cabinets aren't hard. If your doing high dollar flips than defer to a professional but you could build all your vanities and kitchen cabinets with ease.

Robert - Got pictures?

Ian - Looks like Ohio has an 120 hr pre-licence requirement, to be completed at an approved institution which meets State guidelines (accredited for 2 yr degree programs or above). From what I see, you do have to be sponsored by a PRINCIPAL broker according to the application. From what I've gathered on other blogs, this doesn't have to be the broker you plan on working for. My recommendation would be start taking the classes and knock out the pre-licence requirement. Most courses have recruiters that occasionally stop in or just start arranging meetings with brokers during the time you are enrolled in the pre license course. This way, you can start to get your feet wet and along the way identify a broker you'd like to work for. Talk to a few, and a few agents as well. Not every company is the same. Appealing commission rates or teams may draw you in at first, but beware they may also come with increased office fees. Some other brokers don't have office fees, they just lower your commission a bit to help pay from your checks. Which honestly, ain't a bad deal at first. Cause real estate can be expensive to get into, your going to want to limit any extra fees. You will already have fees to your local Association of Realtors and National Association as well as the local key service that allows you to enter homes and show them. Everything has a price....

The proctored exam to complete the RE class just to be clear. The state real estate exam is obviously proctored too. 

I liked RealEstateExpress.com personally. Check your states licensing requirements to make sure they are an approved school. Some states may still require as proctored exam though. Some colleges also offer a principles of real estate course that satisfies the real estate license requirements and may be offered online as well. As with anything, check the state requirements and make sure they are accredited or certified by the state. Otherwise, you've wasted your time.