All Forum Posts by: Martha Nowlan

@John Tobin I expect this will keep coming up until something passes. Not sure it'll continue to be this restrictive, but I can't see the threat totally going away. You can take comfort in what @Kathleen James posted about grandfathering. Honestly, I don't see this as any different than any investment--know that you have multiple exit strategies and don't go in without a good one. If you can make it a full time rental or flip it etc, then you have your bases covered.

Hi @Zach Cowan! Surprised no one else in VT has seen this! It really depends on your goals, but if your goal is that amount of monthly passive income and you know these special assessments are coming, selling could make sense. You're going to get better cash flow outside of Chittenden County, like in Barre. I'm happy to chat with you more about that in this market in particular (I sell in Chitt/Wash counties and own property in Waterbury and Barre Town). $1100 profit indicates low cash flow I'm guessing, unless that's just what the numbers are on your schedule e after taking into account depreciation etc. You could probably cash flow a lot more with a multi family and it sounds like that condo in particular is going to be eating up your cash. Condos around Burlington are great for kind of easy rentals, but they don't appreciate as much as SFH and they aren't going to cash flow like a multi.

Hi @Mike Rosback! I'm not investing yet but hope to be starting this spring. I can't answer everything, but i know one thing I appreciate about my brokerage that I assumed was the same everywhere but maybe not... I get to keep all my commission if it's something I'm buying for myself--I don't need to split with them! I'm not sure if that's all KW market centers or just mine specifically, but it's very encouraging.

You'll just have to shop around at diff local banks and credit unions! Some will have in house products with lower limits.

@Chris Lawrence to reiterate what @Brian D. Beatty said, you will need to have a real estate license in order to receive a referral fee from an agent. If you aren't licensed, it'll depend on the state if the agent is allowed to give you anything, but according to the Realtor code of ethics, a Realtor cannot give you money for giving them business. So I hope you have your license because that could be very fruitful for you! 25% is the "standard" but I think it's silly that we think of it that way, the same way there isn't really supposed to be a standard for commission, I think referral fees should vary depending on the strength of the relationship you have and how warm of a handoff it is. That's my philosophy at least!

@Joel MacAskill You're certainly not in over your heads. Buying a multi unit and opening a store in a location that you aren't established in yet are both things that are always risky, but investing in Burlington is usually a safe bet. Happy to discuss more if you want to PM me

@James O. that seems a bit steep. That's bold of that agent to ask. Did that agent work with this person from out of state to identify the property? If so, then higher than 25 to them might be fair, but I wouldn't take less than 60% on my end as the receiving agent.

@Andre I. Solid idea. Make sure you check with your broker about the rules on that and how the listing agreement needs to be arranged or worded to fit local mls policies and/or broker policies. You can also ask other agents if you can host open houses for them on their listings. A lot of experienced agents hate doing open houses but their sellers want them. So you can call other agents and give it a “id love to help you and your sellers get more exposure” twist. Feel free to pm me for more ideas.

I started my career on fsbo listings. Some of them sucked but it was a great way to learn and get rolling and build confidence. Practice practice practice.

@Andre I. don't spend that much money when you're first starting out! make sure you're at a brokerage that is going to train you on all this stuff so you don't have to go to biggerpockets to learn how to start out in real estate!

You have to be willing to call. FSBOs and expireds are a great way to start and you will have a lower conversion rate but it's free and you shouldn't be spending a lot of money on leads before you make any money. Call literally everyone you know and ask them for business. Network. If you want to pay for leads, try some small spends on fb ads.

Hey @Loren Bedward! Anything new is scary, especially when it involves money. The best thing you can do it build a team of professionals so you're covered in terms of getting solid advice and guidance throughout the process. But at some point you definitely have to just jump right in! Great advice from @Barry Pekin on breaking it down and taking it one step at a time.

I work in Northern VT but let me know if you want some help building your team down there and I can connect you with some folks.