All Forum Posts by: Rob L.

Hey @Daniel Ortiz, Welcome to the forums. You've definitely come to the right place to learn about real estate. Good Luck in the hunt. 

Yes, it could certainly delay your progress. I'm painting with broad strokes here as it depends on each persons goals and objectives. 

Each office is different but at the end of the day your accountable for your day. You should ask the branch manager or hiring manager when you interview how they will help you. That's a good question. 

@Craig Moore I think the main reason agents under perform is because they don't have anyone holding them accountable (blanket statement, I know). Its one of the benefits and weaknesses of the job, it all depends on your personality type. 

I always recommend people start off while working another job. That way you have some other income coming in while your getting up and running. Or have 3-6 months saved up for living expenses because it could be that long before you bring in a commission check. 

@Timothy Woodland I would suggest Liberty Mutual. They seem to have the best pricing and the best underwriting for small multi family. Others may beat them on pricing but then they come back to you after the initial inspection and request a bunch of work etc. 

I can refer you to our rep their if interested. 

goodluck on the new property! 

I would ask them about the following,

Training? 

Split? 

Expenses? desk fees, etc

In regards to the money and work needed. Being an agent is commission only. Their is a direct correlation between the amount of effort you put in and the income you will make. Its a grind and the reality is most agents make $20k a year. I suggest networking and reaching out to the top agents in your market to pick their brain. Offer to take them out to lunch or something. 

You may want to show them this link so they stop giving incorrect information. 

"Because a security deposit is your money and because if you had it, it could be earning interest in a bank, you are entitled to earn interest on it."

https://www.masslegalhelp.org/housing/legal-tactic...

Your Property management fees seem high but maybe that's the norm in your market. 

Low rents could be a lot of things, lazy landlord, long term tenants, etc. 

What's your goal with the property? Looks like you will be house hacking short term? And then renting out at some point thereafter? 

PMI isn't a huge deal. I think of it as being taxed extra for the ability to put so little down. You can always refinance in a couple years once you have enough equity into a loan with no PMI.

Quickest way is with the gross rent multiplier. But, I should note it doesn't take into account expenses so its no help in finding the true ROI on a property. Its a great way to find out if a property is priced correctly. Then from there you can start your due diligence.

@Josue Feliciano welcome to the forums! My advice would be to take action and drop the hammer on a property. All of the things you listed that make you nervous are legitimate concerns but there are TONS of successful real estate investors in mass that make it work even in this state. 

Hey @Joe Cronin, we manage properties in the area. Happy to chat about our services just shoot me a message. 

Look forward to connecting, Rob.