All Forum Posts by: Monique Rene Coates

@Frank Patalano that is very kind of you to offer. Thank you, I do appreciate it!

As much as I would love to go and to meet you and other RI investors, I am also without a vehicle, fun fun! Getting to Warwick is not on my priority list for LYFT or UBER right now due to cost.  

@Mitch Messer.

I THINK you've got it right sir! The brokers that I have worked with have never admitted to me that they closed on a transaction. I have just been handing over buyers for so long I can NOT imagine that not ONE deal has closed.  With this last broker, it has been about a year!  Is this timeframe unreasonable?  If yes, then I guess I am being impatient.

I was on a condo board for a few years when I owned my own unit. It was close enough for me. I learned quite a bit about property managers & managing them.  

@Michael Ealy Congratulations ! Great story to read about your MF investment success. Just curious, did you have a good PROPERTY INSPECTOR prior to purchase?  Just wondering if that would have alleviated some of the later rehab burdens you ran into as well.  Nice job, thank you for sharing!

Does this investment JV partnership split make sense?

A. Find MF asset for purchase by a private JV partner with 100% proceeds or down

B. Give 80% of monthly NOI (post tax & all exp) to private JV partner.

C. Live on or off site & take 20% of monthly NOI (post tax & all exp).

D. Set up & Manage Property Mgr.

E. Refinance property in 4 - 5+ years.

* Attempt to find properties that need little to no rehab.

* Attempt to find properties that are almost fully occupied / leased.

I hope no-one minds if I jump in to this conversation. I might learn why I have not made a DIME trying to wholesale OFF-MARKET properties in years . . . .

SCENARIO #1 = I have a decent buyers list.  I work with an off-market seller / broker. I market their properties to my buyers list. We signed NDA = seller and myself (birddog).  My buyer's list and I have signed NOTHING.  Q. Is this Seller just taking my potential bird dog commission? I have been marketing his off-market properties for over a year.

SCENARIO #2 - Major seller/broker approaches me and wants me to sign NDA / CA as principal buyer. I said NO. I do not have the resources, but I would delegate the NDA / CA to a wholesale partner / buyer. Seller said BUYER PAYS COMMISSION on all sales. I said fine. This partner I delegated the NDA to, I told them that "buyer pays commission." They said fine. I sent them the NDA, they signed. I received copy from seller. Seller was happy. My LLC is no-where to be found on the document. Q. Should my delegated principal wholesale buyer / partner and I be signing a commission agreement that is SEPARATE from the NDA / CA they already signed with my seller / broker?

Thank you ALL for your assistance. I appreciate it.

Well, I have been attempting to make my FIRST NICKEL n REAL ESTATE for about 25 years and have not cleared ONE YET.

When I was working for Corp Amer, making almost $100k, I attempted to purchase my first 3-Unit SFR here in Rhode Island. It did not work out.

Have I sacrificed anything up til now trying to figure out MY ENTRY KEY TO THE RE World? I think so!

Been educating myself in Real Estate Investing since 1995 +/- and . . . . . have spent or wasted at least $20k on guru no money down "courses" including TRUMP U! :0(

Forced to sell home / condo - in 2009 - could not find suitable work = sustainable income

Gave away most all contents in condo = books, sofa, etc to SALVATION ARMY prior to sale

Been in Poverty for over a decade

Finally found work bagging groceries for 2+ years / 3 hours PER WEEK as ONLY JOB making $35 / wk

I have been wearing mainly the same clothes for 15+ years - purchased some at Goodwill & SAVERS

No Gym memberships for 8+ years, just on and off as "guest" & walking the surrounding neighborhoods

No Vehicle for 6+ years

On Food Stamps for 5 years

Living with Parent for support for 10 years and still here !!

Not being taken seriously by anyone in Real Estate Investing or World

ORIGINAL GOAL for RE investing ? To Pay off Student Loans

Still owe $176,000 in Student Loans deferred / Outstanding and CLIMBING . .

Angelo Van is on the right track! National government statistics, for the U.S. = CENSUS.gov is the best place to start in terms of demographics, crime, and income levels for specific locations. After that, dependent upon what TYPE of RE you are looking at can determine what website you might search for additional information.  For example, in the U.S. for commercial RE, LOOPNET.com is good choice. The site does not extend globally, but DOES have global partners at the bottom of the page.

I have been handing over wholesale buyers to MAJOR sellers / brokers for at least 20 years and have not made a DIME in Real Estate and Commercial Real Estate as a BIRD DOG, BIRD DOG helper, BIRD DOG asst., or plain old BIRD DOG, regardless of whether I signed an NDA, CA, or anything like it with the seller / broker. What am I doing wrong, am I just being stiffed?

@Dominick Tanella  Agree with previous posters, you always want to complete your deal analysis prior to property purchase. If you can, some inspections too, to avoid any major repairs or to exclude in purchase price.

The idea is to avoid "paralysis of analysis" if possible.  This can happen because you won't have 100% of the data you need to make a PERFECT decision on any deal, but you'll have a good part of it if you do due diligence and get past history / expense records etc from the seller of the property.  I am going to send you a private message .  . .