All Forum Posts by: Peter Mckernan

You should not have any issues answering this question, it should be found it through a friend/person I know etc. The bank will not stop the deal because of where you found the deal.

Pretty much all the signing services are going to give you a small amount of free signings, 10 signs a year, 20 signings a year, and then they'll want you to sign up for a subscription. I would suggest if you run into this Docusign is pretty easy, reliable, and the most well known. I use Glide and Docusign, those are the only two I use for signing leases, contractors etc. 

You can check the PM list above on the toolbar to find local PMs in your area. Also, I would check local meetups in your area to get suggestions on people who are using good reliable contractors/subs. These same people you can find to give you good reliable PMs in your area too. 

You have to be prepared and ready going into appointments. Listing presentations, four things you need: CMA, net sheet, Listing Presentation, and RLA (listing agreement). The one nice thing I have my agents and I do is a box of cookies.

For buyer consultations, this is a formal buyer's journey presentation (typically on zoom), and go through the MLS, pull up properties along with examples of what we were able to get our buyers for a house etc.

These are critical, the people that do not do this have a decreased rate of getting the client and will look unprofessional. I saw a dramatic increase in business when I changed my buyer conversation to an intake call and then setting an appointment for a full buyer consultation, and that goes for the stuff I talked about on the listing presentation. 

You can go direct with the agent listing the house if you feel confident in the deal and your ability without being represented; that is if it is actually on market with an agent listing it. 

The other option would be to start buying off market, and typically you just need a price and terms sheet for the escrow/title officer to open escrow and close. So it's case per case. 

The lower the points the better for sure. I would continue to search for HML and private investors that will do lower rates and no points are small amount of points.

The majority of people in the primary purchase market are the ones that are really into the vanity of the home. Cosmetic fixtures are great for that, and 2-4 units speak to that crowd a little bit, I would say it levels off a bit at the 2-4 units. The next thing these investors are going to be looking at are the roof, electrical, plumbing, foundation, and HVAC.. They know they will have to pay CapEx for that stuff and the value goes down for you.

I would focus on the 2-4 units selling in that area with the same rents as your property. These investors will not look at this 100% like big multifamily investors, but this will be a bigger leading indicator of the price for sale. The lenders will be looking at this especially if you are getting a buyer with a DSCR loan. Biggest advantage for you on the out price (ARV), get the rents the highest you can get them.

The best tools, or tool to develop would be off-market deals you can input when getting the data to the CRM with the most accurate info as possible to capture it and give that wholesaler, sales agent, or flipper the upfront data. That would help the best in the follow up situation and accuracy in dialing into getting the deal instead of someone else that is calling.  

I would sit down with 3 different agents, and see what they will do for you along with offers, how to write offers to get the best negotiations done and how to win for you. They should give you the best tactics in winning in today's market, show you what to do for you through the whole process, and how they get people into homes through their systems and processes.   

I would see what the area/comps are doing.. The suggestion I have is at least a fridge, dishwasher, hood/microwave, and stove. The fridge is not 100% in my area, but it does make it even nicer for people coming into the house with all new stuff.