All Forum Posts by: Noel George

Welcome to BP Vanda!

Hi Michael, Welcome to BP!

welcome to BP Josh!

Welcome to BP Hernan!

Thanks Lisa!

Laxmi,

The way I would try to find real estate agents who also invest is I going to meetup.com and search real estate or real estate investors. Go to those meet up groups in your area and you should be able to find a ton of agents who are also investors themselves or for others. You can also ask people there which agent they use, they might point you in the right direction. Also, It is also good to do your own research using websites such as redfin.com, zillow.com, realtor.com, city-data.com, neighborhoodscout.com & rentometer.com. There is a lot of information about each property online which is free. Most of the sites listed above are free but some of the sites listed above such as neighborhood scout will ask for a membership fee but will give a little information for free. City-data.com is a great site for statistics. Anyways, hope this helps! 

Adam,

As a Buyer it is always a good idea to get a real estate agent for yourself. You should sign an agency agreement with them. In a real estate transaction the seller is the person who pays the agent(s) commission. The only person who wins when a buyer is not represented is the listing agent because they do not have to split the commission between another agent in a cooperative sale.

Bill, Thank you for your post. I will be managing the property.Thank you for your input and advice. I am going to have an inspection to verify that the house has no major problems. I will definitely be putting the positive cashflow away for the unexpected costs down the line. 

Corey, that is a great idea. I am  actually in the process of studying for my licensing exam in the state of Texas currently.

Thanks you all for your input & it is great to be a part of this community. I am really happy with the deal thus far. I am going to make an offer of $90,000. We will see if it sticks. I will keep you updated.

Thanks for all the input I am really grateful for it. I understand Zillows price estimate can be inflated. I will try to speak with a local real estate agent who invests. I have run the numbers and they look alright. Although because I am new at this I wanted to get more input from the community here, as well as start making some posts on the forum. Thanks for the advice please keep it coming!

Gino, 

I am sorry I forgot to mention that I want to buy and hold. The monthly rent on Zillow is estimated at 1,400. On another site it is estimated at 1,200. 

I just calculated cash on cash. I plugged in the values and got a 12% cash on cash return. I am not sure if I am doing it right. I used a cash flow calculator first then used the values from that calculator in a cash on cash calculator and my return was 12%.

Also I feel as though the property cost is low enough for me to also flip it with minimal repairs. I want to list it as a lease and also for sale.  

I am looking to make an offer on a bank foreclosed property. The Zillow.com description of the property estimates the foreclosed property will sell at $117,000. The current "Zestimate" price for the property is a little over $129,000. The Asking price is listed is $90,000. The price seems like a great deal because in the last 10 years the lowest price on the zillow chart is about $99,000 which was in the housing market bust of 2007-2008. It is a 3 bedroom 2 bathroom 1513 sq. ft. single story house in a pretty good neighborhood. The neighborhood has low crime rate and good schools. It is also close by to schools and a very close distance away from 2 major highways. It looks like no repairs are needed except maybe a repaving of the driveway, even so, I will ask for an inspection to verify electrical, plumbing, etc. I have used a biggerpockets spreadsheet and it seems to give a good yield return as well as positive monthly cashflow (although I do not know all the numbers such as utilities cost).

The house looks in very good condition & I want to make an offer on it. The agent says submit our offer and the seller will review all the offers. Everything to me seems to check out but I want to know the communities opinion on it. Anyways, please let me know what you think and if you need any more information/details. Thanks for the help!

• Built in 1983
• lot size 4,400 sq. ft.
• House Size 1500 sq. ft
• 3 bedroom 2 bathroom
• Traditional Style
• Taxes $1,959
• Annual Maintenance Fee $250
• Insurance $70/Monthly
• On the market 8 days

Thank you both (Naaem & Steven) for the great advice! 

I want to first pass my exam, then start searching for brokerages which would sponsor me and be beneficial to me as a real estate agent who is just starting out. I was thinking about going to join Keller Williams or possibly Red Door. Not too sure yet, need to do more research about each company and which would be the best fit for me.