All Forum Posts by: Mark Gallagher

@Chris Jensen

Lots of great points here. I’ll make one more - I barely want to interact with other real estate agents let alone homeowners. Most real estate agents aren’t well versed in transactions, so homeowners will be even less informed on how to handle the transaction. 

If I personally go after a FSBO I'm going to beat them up on negotiations so bad.

If you’re asking because you want to sell your own houses to save money, I’d suggest simply getting your license. 

@Shane Boyd

I'd ask the same thing as to why a home inspector isn't a contractor? You'd make a lot more money building a house than inspecting one.

@Lethony Campbell

@Chad Jarrah

C+ class. TURNKEY - All newly rehabbed, some units with granite counter tops and higher end kitchens. 

Most units in Schuylkill County PA. 

Great existing tenants, 1 currently in eviction. 

2 units are significantly below market rent due to special arrangements which will be up soon. Once at market, 9.72 CAP.

9 CAP is with 5% Repairs, 10% PM, 5% Reserves

Most units have new HVAC, some new roofs, overall good quality. Vacancies and turn over are low. 

Will stay on as PM for free for 6 months or as negotiated. Selling to focus on fix n' flip business.

@Ana Marie B. To reiterate, there are faIrly easy ways to get internet without Comcast or “internet lines”

@Wade Penner Everything you’ve stated sounds good. The only thing I could add would be that I use docusign and pay extra for authentication. This is basically where docusign asks personal questions from your credit report to verify your identity prior to signing. I do this to avoid a scenario where someone says they didn’t sign.

@Chris Bluem Short answer to your detailed post, but if you want to put nothing out of pocket, find a landlord who wants to retire. Get the landlord to owner finance you the house. $100K house, get landlord to give you 0% down, 5 year balloon 5%+ interest. Then in 5 years, refinance the property and payoff landlord. Benefits the landlord in that they will continue earning income even after they’ve sold the property. The terms of the landlord loan are all negotiable. You could do 10 year balloon, etc.

@Randy Forcier I’m no techie but my guess is desktop based software is going the way of 3.5” disks.... We have a small portfolio and previously used Buildium and were not big fans. Too complicated for a small portfolio. We currently use Cozy in addition to Quickbooks Online . Cozy is barebones and to the point. Tenants seem to use it with easy.

@Alison Hallifax What loan amounts are these? You’re likely simply speaking with the wrong lenders.