All Forum Posts by: Robert B.

Quote from @Nate Sanow:

I haven’t looked at PropertyRadar yet but looks good…Skip tracing tends to be one of the pricier items for all of these platforms…do they include that?  

 They both say they include Skip Tracing. Included in price with Radar; add-on with Prop - 12 cents per.

What do you think? Needed for traditional REI up and down East Coast.

FYI - here's the comparison chart from PropertyRadar's website:

https://www.propertyradar.com/...

@Bruce Lynn

@Robert Carmody

Gentlemen - thanks for taking the time to construct such detailed responses; very much appreciated. So it seems there are material & ongoing (personal) cost and liability considerations. Feels like I'm better off partnering with the right Agent to leverage his or her wisdom, tools, and licensing. Propstream seems well worth it; I didn't know they existed. I'll also continue to layer on a ton of education as recommended. Thanks again.

Generally speaking, are Licensed Brokers open to having a new/aspiring REA work under their umbrella if the REA's intent was to solely focus on his or her own RE portfolio?

Very interesting topic and commentary. Thanks for posting.

If flipping is your business, that's a nice transaction. My preferred route would be to do a cash-out refi; (75% financing pulls nearly all your $ out of the property). You won't have to pay cap gains tax as its a loan, you'll have 285k in the bank, you now have an appreciating asset that I assume will cash flow and your tenant will pay off the mortgage.

@AJ Wong

I heard a good quote the other day: “Don’t wait to buy real estate, but real estate and wait.”

It’s a long game.

Sessions will reinforce Short-Term Rental Ordinance passed earlier this year.

$250 annual permit, reinforce various rules of the road with your renters, owner/designated agent needs to be readily available during any rental, reinforce (maybe expand upon?) trash - parking - noise - safety regulations, the requirement of a Business License et al.

One thing to highlight: "If you rent on your own or use a non-licensed property management company such as Airbnb, you will be responsible to collect and submit the 3% Town of Hilton Head Island taxes."

Link to PowerPoint:

https://hiltonheadislandsc.gov...

All of this seems reasonable; focus seems to be on quality of life issues; marginal/underperforming property owners will get pinched; interested in other views. I'm not in this market but visiting soon.

Change strategy - MTR offers better returns. Not sure that's possible in your market though.

Planning to pull 200k out of a small investment property in South Jersey. Rocket said they could close within 3 weeks; 75% LTV, 6.997%. I placed an inquiry in their website and my phone rang immediately. Salesperson was aggressive; I like that.