All Forum Posts by: Paul Sorgi

I am not opposed to listing with an agent I am just curious as to these secret marketing techniques. 

Example would be I run First time home buyer seminars monthly and have one coming up next week.  I would love to spot light your home during this event that I usually draw 15 to 20 buyers looking to buy their first home.

I guess the title of my post could have been "How Not to Get My Listing" 

I have just completed a rehab and I have listed it for sale using an entry only listing on the MLS. My home is on most of the websites such as Zillow, Realtor.com, etc.

I am also offering 3% to buyer agents. 

I have received a few calls from agents who find my ads on craigslist and want my listing.  I kindly tell them  I am not interested and then tell me how I will never get my house sold. (topic for another post)   I ask all if they have any buyers and the answer has always been No.  Then they emphasize that they have the "best" marketing plan.  When I ask for details they say we have to meet.  My question is to the group What other marketing activities are Real Estate Agents doing?  

Welcome @Tamara M Stoner I would say that you are an investor.  I find that "I am" statements to be powerful.  If I could I would change your title of the post to "I am a Real Estate Investor seeking more knowledge" .  There are so many investors who get started or expand there business because of knowledge and experience so therefore you are a Real Estate Investor. The problem with "Future" is exactly that.  It is always tomorrow!  Wish you the best you are in the right place.  

Look forward to seeing you at some of the local REIA meetings.

Paul

My third party idea has been taken.  Good luck!

If your numbers are accurate you should be ok.  You will pay income taxes on the profit.  Speak to your accountant about ways to reduce your tax liability.  

Using the 70% rule. ARV= 160k purchase price= ARV*.70-repairs(50k)=62k

Sounds like there is a bit more going on but sometimes life just wants to test us. Based on your numbers not sure if you have a positive cash flow.  What about taxes and insurance? Vacancy and Cap X?  Maintenance? 

Would you be better off selling?

What is it going to cost to turn your home into a duplex?  A different strategy maybe to sell the home you live in and buy a 2-4 unit and live in one of the units and rent out the others.  

If homes cost around 90k then you will most likely need to put 20% down and need more than 10k.  

You are on the right path and hope I have helped you to think of a few  more ways to accomplish your goals.  

I'll never understand the statement "they don't need the money" .  If that  is the case I'll take the house off their hands. LOL 

Do they want to be landlords?  Do they want to continue to use the house?  

you said it rented for 2500/month in the summer was that for just the summer? is this more of a vacation home?  

I rent but not because I think it's better.  Life through a few curve balls at me and I had to sell my home in 2009.  

Give them a gift card to a local place to eat. Even though I don't believe you have too it is a nice jesture