All Forum Posts by: Olga Roginkin

As landlord, your approach should be: market your property, get as many applications as possible, interview the best ones, and chose the one who you like and trust most. I think this is a reasonable approach, right? Considering this, is this lady the best applicant you got?

Make sure the septic is big enough if you are planning to re-build the house. The size of the septic has to conform to the number of bedrooms in the house. If the septic is small or limiting, use that as a negotiation advantage.

HI Ling, I recommend to consider Northern NJ. Many of my clients are investors,  who are finding deals of different degrees of difficulty and affordability.  North NJ is very attractive for many reasons, one of them is its convenient transportation to the NYC. 

First of all, your agents shoud be helping you with the appraisal process (give you an idea of the comps, work with an appraiser to make sure the appraisal comes in as expected etc)

Second, even if the appraisal comes in lower, your buyer might still be able to bring more cash to closing and be able to close. Another words, this  event would trigger another round of negotiation. Again, your agent would be instrumental in navigating this with your buyer (or with the buyer's agent).

Hi, @Jason Guinard

This letter sounds good to me. I would add that you are experienced in repairs and it is ok if the house needs repairs :) . Contact me if you need more advice - I am in Bergen County as well. 

Olga

@Maged Habib,

Welcome to the community! I recommend getting familiar with the discussions in the forums on Bigger Pockets. There is an enormous amount of relevant and helpful info there. 

While reviewing the forum discussions, see if you can sharpen your investment objective: narrow the geographic location, decide how much money you have (and want ) to invest, think about your time horizon, the type of investment (SFH vs a condo) etc. All these are important to start a conversation with a realtor. I am a realtor myself and I usually start these conversation with investors by helping them define their objectives and answer all the questions above. Any questions - Pm me for help.

One of the approaches in this situation is to go by the cap rate. 

1. Estimate the cap rates of the neighboring similar properties 

2. Calculate Net Income of the subject property

3. Assuming a similar cap rate, calculate the selling price

4. Make an offer based on the above calculation 

5. Use your calculations in your negotiations to justify the offer price 

Hi @Adrian Smude,

I would approach a team leader at one of the Keller Williams offices in the area of your interest. Explain what you are looking for and ask to be put in contact with those who might be interested in your pitch. 

This does not cost $$ and is more focused - you might be able to find someone who really wants to do business with you. 

Keller Williams offices are big, therefore by contacting one team leader you are potentially getting access to 200-300 agents. 

For example, there are several people in my office who are interested in mobile homes.

Contact me if you need team leaders names (find my email in my signature).

@Syman Hay 

I recommend finding a good realtor you trust, as opposed to contacting the listing agent.

Remember that the listing agent represents the seller, they have signed a contract documenting this relationship. Guess who's interests the listing agent is going to protect? 

As in any other legal transaction you need to hire an agent to represent you! you want your own agent  to negotiate for you, not against you! he will protect your interests and work out the best deal for you, not the seller!

My point is find your own agent who is familiar with that area, establish a solid working relationship with him, explain to him what you are looking for and work with him. That's how you get the best results.

I cannot recommend a good agent since I dont know what area you are working in. PM me or email (find my email address in my signature) and I will do my best to help.

@Monica Narvaez, do you know if the contract is already signed? If you are in the contract, both the seller and the buyer (you) have to obey the contract terms. IF you are not in the contract, the seller's agent might have the right to continue the negotiation process. 

 Depending on where you are in the process, this  whole issue might be a non-issue. 

Ask your attorney for guidance, this seems like a legal question.