All Forum Posts by: Patricia J.

@Russell Brazil When I was posting my question I felt there was something not quite right in my reasoning. This is it!

Thank you everyone! It's good to know this could be an option at least.

@Mike M. Thanks! I thought about going without a buyers agent too. What complicates matters for me is I am licensed in California, and my employing broker doesn't allow me to do my own deals :(

Since I can't represent myself as an agent, I thought about using the dual agency method.

@Mindy Jensen I toured the property with Redfin. But since they don't deploy their actual lead agents until I make an offer I had only met with a tour agent. I thought redfin made this strategy very efficient because now I don't feel guilty for going behind an agents back to try working out a deal with the listing agent :)

I am in the process of purchasing a condo as investment, and it occurred to me I may get a deal on the purchase price if I ask the listing agent to represent me as the buyer as well. I thought the agent, in wanting to get both sides' commission, would try to make the deal work even if my offer price is lower than the market price. 

Has anybody tried this? Am I mistaken in my reasoning? I have purchased properties before and am fairly familiar with the documents and purchasing process myself. 

Thank you! 

Hi Mario! I don't have a good suggestion but am interested in this topic as well. I actually thought about the same thing when viewing properties. The question I don't have an answer for is does an art studio count as a residential unit? Well if not then I think we won't have zoning issues. Like when you rent out a room in your house on Airbnb you don't have to rezone your property, it should be considered business rental rather than residential rental. Good luck and thanks for asking this question ;) 

Thanks very much everyone! I will collect all your advice and put them in my personal rental bible! I don't plan on managing it myself so PM is definitely a good idea! 

Hi everyone,

I am a new investor currently finding and analyzing deals in Los Angeles. I came upon a 4 plex which is listed at 1 mil. I got the rent roll and past 6 months expense report by the property management company. However, 

1. my calculated annual expense is lower than the listing agent's estimation. I think the agent simply took market rent, applied them to all units, and used one of the R&M rules to come up with his number

2. property manager listed no rent income for 6 months straight and suddenly for the very last month on paper there was an income of about 2800 dollars. this made me doubt if the entire income and expense reporting was accurate

3. owner did not provide tax or insurance numbers - the listing agent estimated them...I also heard from the selling agent that one of the bigger units will be vacant from next month, due to eviction of tenants from rent delinquencies 

The owner is out of state and seems clueless on the operations of this building. I am more confident in analyzing properties with good records of income and expenses, but what do I do when the owner seems clueless and all the numbers are just flying everywhere?