All Forum Posts by: Regnor VonDedenroth

Hey all! 
I’m currently getting ready to transition out of the military and into the civilian world. I am located in SD California, and I need to get my real estate license ASAP for a job I am interning at. From what I’ve been told it will take me up to 3 months to get this done, just based on the time it takes to complete mandatory courses. I was wondering if anyone had any experience with this and if there is any expedited process that would allow me to get it within the month or as fast as possible? I have seen a few courses but they are usually within that time frame and cost quite a bit of money. Any info or past experience would be greatly appreciated.

Thanks!  

Hey all! 

My wife and I are currently renovating my 3 bed 2 bath house in San Diego. We have gotten done with almost all of our renovations needed to rent out our rooms. We are expecting to have tenants renting out the extra 2 bedrooms in the house by late November. We have had roommates before but have never been landlords before, as this will be our first time actually giving someone a lease. 

A few questions I have is where can I find a lease? I have found a few websites that will generate them, but there are a lot. Are any better than the other, is there a specific site anyone recommends? 

 How much does it cost to have an attorney look over it, and is that necessary?

 Does anyone have any tips or tricks as to what to put in the lease to keep ourselves in a good legal position? By that I mean any addendums, additions, extra paperwork that needs to be signed, and where to sign it? 

Any advice would be greatly appreciated! 

Thanks!

Hey everybody! 
So I have run into a situation and was wondering if I could get some advice from everyone on what you all think. I’ll give a run down of the deal so you guys have a good idea of what I’m looking at and then I’ll let you know what I’m thinking.

Run-down: The property is a quarter acre corner lot located in Southwest Colorado. The lot is set for electricity, plumbing, and water. It sits right next to a golf course and has a few houses already built around it, but for the most part is pretty empty in the surrounding area. It is just up the street from the golf course club house, is in the mountains, and has great views. Surrounding comps have sold for an approximate average of 28.4k with most recent purchases in quarter 4 of 2021. The seller is hoping for 30k but has had the lot for a while and wants to get rid of it. There is a $1000/year cost for HOA and water. My family member is the realtor for the property and I have told them I am willing to offer 20k (I know it's low). It's currently off market now and we just found out another buyer is interested in the property.

What I'm thinking: my original thought was to put in an offer at 20k and if the buyer comes back with a counter then go no higher than 23.5k. If he accepts, then I would hold the property for another two years or so in hopes of making a solid ROI considering how much they keep building around it and other comps that have gone for more. Now that there's another buyer interested, I'm thinking about wholesaling the property to this potential buyer. I understand the wholesaling process, but how would I begin this conversation. I don't want to talk to the seller first because it is a very slow market there. I am afraid that if I guarantee a deal and the buyer backs out then I won't have an exit strategy besides close on the deal. Then, I don't want to talk to the buyer first, tell them I can sell them the property for X amount and have them go direct to seller with the same price I'm offering. What do you guys think?
Also, Apologies for how long the post is. I hope this made sense and any advice/input would be much appreciated. Thanks!

@Marshall Leipprandt

@Michael Brattelli

Thanks Marshall, and Michael. I hope everything is going well with both of your RE careers. It's actually funny you both say that because there had been a few folks to mention that option here and there, but not as something to necessarily go after. In response to you both, and somewhat as an update to the whole situation, my wife was able to work out that exact situation. To work as a co-agent on the deal and learn from this awesome agent! We wouldn't be in this situation if we didn't ask and realize the amount of potential and opportunity that could come from gaining this experience. As well as being able to see the deal take place from a buyer's perspective. 

(I would be remiss if I didn't give the opportunity for people to contact this great agent. So, if you are looking for a rockstar agent in San Diego, and you are a SERIOUS BUYER, please direct message me and I can put you in contact with her.) Thanks so much everyone!

Thank you to everyone’s feedback! 

@Tim Johnson

Thanks so much! We really appreciate the honest look from both sides and the perspective from someone else! 

Hello everyone! 

My wife and I are currently in the process of buying our first investment property. I am currently in the military, and we have been looking forward to buying a property for a while (particularly a duplex/triplex). We have gotten some great referrals for agents who then hooked us up with a good lender. We have a pretty good CCC set and the agent we are talking to is experienced with investment properties and well versed in general. 

Although, my wife is currently working on getting her real estate license. So, we are wondering if we should stick with the current agent or wait until she gets her license? (Hopefully within the next month or two). If we did that, we could take advantage of saving some money and adding this to her portfolio. It seems like common sense to be our own buying agent and save that commission for ourselves, but we're not sure if it would be the smartest move since it is our first property both investing in and acting on as an agent. Is there anything we're missing or not thinking of?

 Also, we don't want to potentially lose that connection with the fantastic real estate agent. How should we tell her that we are going to go solo without sounding like we want to stop working with her in the future or seeming disrespectful for wasting her time and taking her referrals. Let me know what you think. 

Thanks so much!