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All Forum Posts by: Rusty Thompson

Rusty Thompson has started 17 posts and replied 406 times.

Post: Agents who push monthy payment over price paid

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

If anyone thinks, on average, a agent is working in your interests. Read "freakonomics". They have a section that discusses the difference in how agents treat clients property and their own. Its very eye opening into their mindset.

Post: LLC

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

There are a lot of options, but without some real #'s it is really hard to give advice.

How much is it worth?
what is the rent?
is it currently over/under the market rent?
What are the details of your payments (years left, payment, interest rate)
Condition of property & what kind of neighborhood it is in.

All of this, and anything else you have will help people help you find a solutin

Post: Whats More Profitable? Marketing To Sellers/Buyers

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Michael Quarles

Would you mind going into a more in-depth description of what exactly you are doing? If you are re-listing, are you remedying any deficiencies that would keep them qualifying for conventional? How many time have you had to deal with irate customers when they see their house on the MLS?

I second that this site does not work well enough on Android. Still crashes my browser intermittently.

Post: Find a good agent and wanting to buy at a low price point.

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

I'm with Brad, know a buyers agent, but contact the listing agent. If the listing agent does not sell, ask them for a referral. You want them to have every reason to "move" the property along. A double commission or a referral fee is some pretty strong motivation.
[u]
This is my strategy for MLS listings[/u]
- Find a list of properties.
-Do my due diligence which usually includes Google street view to see if its something I want & to narrow my list.
-Contact listed agents to set up appointments, try & schedule viewings for the same day.
- Make offer with agent, or if they are a broker my agent, but I give them the referral fee. If they are not comfortable with using my agent and getting a fee, then I use someone they actually recommend .
- If I can't contact the listing agent I contact one of my agents and go through the process with them.

Reasons why...
Agents are horrible at communicating in my experience. Someone else in the chain, just makes it that much harder.
Your building relationships. When you are using your agent, then your agent is handling everything and you may never meet the other agent. Make it personal, they might not recognize you next time, but eventually you will know everyone in your market, & know how they do business.
Quick response time, I usually get replies that day. Again "telephone" just makes it that much harder.
Outside the box most people use a buyers agent, if you use one then you are in the same playing field.
Most importantly IT WORKS. I spent 6 months trying to get a offer accepted when I started. Using a good buyers agent. I closed two in two months when I started using listing agents. Which is the only reason I nee

Post: Any electricians?

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

I'm trying to figure this out....
OK
You have both legs in the panel feeding one outlet....If that was true you would be getting 240 @ the outlet?

The light in the hallway. Is it controlled by two switches?

Post: Move a bedroom to the basement to create master suite??

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

I wouldn't do it for a flip. I can almost guarantee that you will not make back the amount you spend. Yours might stand out from other 4 bedrooms, but not enough to get someone to spend significantly more for it. Unless its exactly what they have always wanted. If you want to finish the basement & homes with finished basements sell for significantly more, then spend as little possible making a functional family room down there.

Post: Modular home solid rental... to flip or to run?

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

I don't know if I would buy that as a investment. There is not chance for appreciation & over time it depreciates. For the long haul I don't think I would be making enough to make it worth it. Also, if I can buy another unit in the park for 24k... yours wouldn't be that great of a demand at 21k. A little savings but not great.

If I was you, I would owner fiance it.
25k w/ 5K down @ 10% interest for 5 years.
You would have your initial investment back in a year & you would have a 500$m income for the remaining 4 years. Get a few houses rolling like it & you are making good money.

Just my .02$

Post: Things going on after the Conference

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Will Barnard. I'm up for some long nights as well. I'm not much of a sleeper anyway & caffeine is a great invention.

Post: Things going on after the Conference

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Justin S. Happy hour would be great. What time are you thinking on Sun.?

Post: Things going on after the Conference

Rusty ThompsonPosted
  • Real Estate Investor
  • Salem, OR
  • Posts 422
  • Votes 149

Anson Young, that will be great.