All Forum Posts by: Michael Webster

Does anyone have a preference on HELOC options in the Portland area? I'd like to get two on my multis and I'm open to new options. At least an 80/20 and a solid rate would be nice.

@Alexis R Beckley, I have to agree with Charlie.  I'm currently an eXp agent and I think they offer a better experience than KW. Ultimately, every person will get a different experience but their online focused attitude is way ahead of the game compared to most agencies. 

Hi everyone, I had accepted a mortgage deferral offer from my bank back in April of 2020 when the pandemic hit. I have two multi-units (occupy one), and I run vacation rental out of them and wasn't sure how everything would pan out. I am now refinancing with a different lender and my bank is charging me $11,000+- on each loan for interest I would have paid.  I just want to double check and make sure that was allowed with the Covid deferral rules?  I'm happy to add more info if needed, but the amount does seem to be in line with the prior year's interest paid. 

Thanks for the feedback everyone, though I think I didn't provide enough information in this case!  I have a Buyer that is in love with a specific set of condos (workspace below and apartment above). She wants to buy one of the 3 but none are currently for sale. Has anyone had luck going a certain route to try and make that happen (written letter, email, phone, text, etc)?  Convincing an owner to Sell or at least start that dialogue. 

I've had a few clients over the years come to me and ask me to setup a sale for off market listings.  I've rarely had them work out.  Does anyone have a good suggestion on how to approach a seller?  I was thinking this time I might just drop a handwritten letter off to them and explain that I have a client interested in specifically their property.  Any wording/ideas would be helpful!

Hey Ben!  I've been an agent in Maine for 11 years and have experience with both agencies.  There are pros and cons of each.  I personally just switched to eXp after running a local agency for years. 

I think one big difference is that KW has brick and mortar locations, where as eXp is all online.  They occasionally have offices here and there but nothing like a KW building.  KW offers a lot of in person training where as eXp is focused online.  I think with the way our industry is moving, everything will go online and that's why I made the choice I did.  It's better to be ahead of the curb.  

eXp also has some other great benefits. The whole network is ONE agency.  So if you want to get licensed in 4 other states, countries, etc, you can and you'd work all under the same single agency.  No having to find a KW branch in each different place you want to sell.  

Lastly, they have a 3 free closings thing where I can sell/buy 3 buildings that I'm part of the sale of (as a buyer/seller) and I get a 100% commission split.  Plus, after you hit $16,000 paid to the agency in commissions, you go to a 100% split with just some small fees for closing preparations.  

Ultimately, it's a question of where you're at as an agent and what your preferred method of learning is.  If you're okay with doing thing digitally, I'd say stay ahead of the curve and go with eXp. Feel free to DM me if you have questions!  Good luck.

Maine has put a 14 day quarantine on anyone entering the State so that has pretty much dried up any potential tourism.  Hopefully we open up for July but it's not looking good!

It's been said but I think the difference is communication. Reach out before, reach out the day of ("feel free to check in early"), during the stay ("need any tips on where to eat?"), And afterwards ("thanks for staying and leaving the unit in such great shape"). The last one is key because they think you'll be leaving them a 5 star as well.

Nice work Cody. Sounds like a great project!

@Ed Emmons is right. They can write it in there but it's not enforceable. The max security deposit can be equal to 2 months rent (meaning either security and last months rent, or just double security), and they can leave anytime in the period of their lease and can only lose their security deposit UP TO, the amount of time the apartment goes un-rented, plus any cost that is written into the lease for turn-over (if they cause damage that's another story).  

I would just sign it, not worry about it, and if they decide to leave, just do it properly (in writing, with proper notice, and taking photos proving they did no damage).  Every tenant should be taking photos when they move in and submitting that to the management via email confirming, this is the condition they rented the unit in.