All Forum Posts by: Michael Frank

Hi, I was wondering if someone could give me a quick briefing on the economics of being a real estate broker, particularly in CA? 

So you make 2.5%ish per home? If you're the buyers agent, what are the other fees involved with that?

if you work for a big firm, how much of that do you keep?

How much does licensing and other stuff cost?

Why do so many people work for big firms? The stead pay check? The office? the leads? 

Any and all information would be great.

-Owner occupier
-% down and speed are relative, but I've seen 10% down for up to $1mm and 20% over

- haven't seen "quick" financing yet and by quick, I mean <60 days
Any recs would be great - thanks @Jared Rine

I'm looking for the best new construction lenders for an A+ borrower looking to do ground up construction in San Francisco bay area? Qualities I particularly care about are percentage of down payment they require and speed to underwrite and close.

Thanks!

I would speak with the builders and designers who do this all the times. Here's a list of reputable companies that work in the area: Prefab and Modular Company Builders Colorado

Hey @Ej 

@EJ Hyman

Quick thing: I think you want to clarify you language. I'm 99% sure you mean FB ads vs Google adwords (paid search) vs. direct mail.

Typically speaking direct mail will be the most targeted but the most pricy on a per unit basis.  ($.50 cents plus per send). Your success here depends on the quality of your list but good quality generally speaking could be 1-2% (so $25 - $50 per lead)

FB prospecting is very untargeted as the person has shown no intent (you're probably just going to use targeting such as the zip code and potentially one or two other factors that you can target with using fb relating to home ownership and income or debt levels). Expect typical cost per website visitor (CPLC) to be $1-4. (this is a function of $10 cpms x .25-1% CTRs

Adwords is pretty targeted and has intent as you can target by zip code and high intent keywords such as "sell my house for cash etc." but it's limited to people searching for those high intent phrases which may not be a large number. It's also going to be competitive (high priced) if you are looking in a fairly competitive area such as chicago. Cost can vary a lot here.

Anyway, if you can afford it and easily answer your phone, I would start with direct mail as it will be the most predictable. 

Good luck!

Who else are you considering? I've been looking into the same thing except for residential. 

I learned about gohome in Maine from this article: https://www.prefabreview.com/blog/the-best-prefab-...

But I'm open to considering others as well

Hey All,

I'm considering buying my first vacation rental in Olympic Valley (a few minute drive from squaw valley) between Truckee and Tahoe City.

Can anyone who is local to the area let me know:

• What do you pay short term rental management firms in the area and who the best ones are?
• What you think non-ski season short term rental occupancy rates are? The analytics sites seems to say they are around 20%

Thanks!

Does anyone have experience with subdivision / condo conversions in nevada county. I'm specifically considering doing this with a property in truckee, CA?

Would love to get your feedback / experience with the process

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Awesome tip on the ACC thing. Will pm you