All Forum Posts by: Preston Porter

Alamosa Investor here -

I've had good luck with Jay Myer at State Farm as well as Zach Horning with Horning Insurance - both locals!

I would explore this FIRST.  Make sure your gut matches up with reality. 

 Make sure you offer to pay all of the closing costs since they are giving you such a good deal.  Make sure you still do your due diligence though and get the property inspected, etc.  Even if you 100% trust them, there may be latent defects unknown to them.

Currently, all of our contacts since 1991 are stored and managed in Google Contacts (around 4,000 contacts).  We use Pipedrive as a CRM.

I have 2 staff and 4 total agents (including myself).  The agents are working individually for the most part and our contacts have become unmanageable.

As past and new clients come through, we typically update contact information on our global (shared) Google contacts list.  As we grow, this seems like it will become unwieldy.  In many cases we have several different versions of many different contacts...

Do any other small (non-franchised) brokers out there deal with any of this?  I know some (if any) of the residual value of my brokerage is in that database, but I don't know how to maximize the value, maintain the list, prune it when necessary, etc.

I would suggest connecting with the local municipality (city/town/county) that would be the entity you would apply to for the entitlements for the actual subdivision.

This would be free information, but running it by them and finding out first steps towards developing it would get you moving in the right direction for no cost other than your time.

@Kevin Sellers Thanks!  Is an appraisal done on the property / lease ?

@Kevin Sellers Can you talk about what typical terms look like?  Curious.

@Account Closed At this point, your time would be better spent finding and buying another deal or going and selling some real estate with your license.  The phrase "stepping over dollars to pick up pennies" comes to mind.

@Ruth Lyons I'd listen to @Adrien C. !  Sounds like he's the guy you needed.

I will just add that depending on how your sale goes in 9 weeks, most likely the next buyer is going to want title insurance as well.  I've experienced significantly discounted "Re-issue" rates for Title Insurance on that second transaction, especially if you use the same title company.

Get it under contract asap.  Spend a little extra time walking and talking to the tenants.  Not just the owners, but the employees.  Get an appraisal, even if you aren't borrowing against it.

If the deal is as good as it looks, it won't hurt to spend a little more time/money on due diligence.

Good job!