All Forum Posts by: Trenton Miller

It sounds to me like he can't find workers willing to work for the price he is willing to pay... Despite everything going on in the world, residential construction is still moving forward.

0 Votes

I wouldn't renovate a unit while a tenant is in place. Save it for after they move out and increase rents once the renovation is complete and new tenants apply.

3 Votes

Just get YouTube TV and a smart TV. most smart TV's are application driven now and all you need is WiFi. YouTube TV is $50 a month I believe for multiple devices at once.

1 Vote

Originally posted by @Russell Brazil:

Originally posted by @Trenton Miller:

Originally posted by @Karl B.:

Originally posted by @Trenton Miller:

Originally posted by @Karl B.:

I bought a 4-plex (my first multi-family purchase) without an agent.

No agent = more leverage with the seller. Why?

Because when the seller realizes he or she is not going to have to pay 6% of the purchase price to an agent I can negotiate a lower price and the seller is more likely to agree.

The process was simple with the guidance of a good real estate attorney.

This can be accomplished only if the property is not under a current listing agreement. IE FSBO, off-market deals..

The deal I'm referring to was an expired listing, though if it was on-market I can still make an offer and state in writing that the selling agent isn't the dual agent and will not be representing me.

Since it was expired there was no current listing agreement. However, I am going to have to disagree with you on the second part of what you're stating. Just because you make a statement in writing saying that the listing agent is NOT representing you as a dual agent does not mean the commission drops from 6% to 3%. The commission for the listing was negotiated between the seller and the FIRM prior to any offers being submitted. I do not know of any firm that would allow for a 50% commission reduction just because the buyer did not want any sort of representation.

@Russell Brazil Can you please lend some expertise on this subject?

Some agents engage in whats called a variable rate commission. The commission can vary for any number of reasons, but a typical one is the commission is lower if the buyer has no agent. It is pretty rare but it does happen.

Its important to note though, because many assume they can get an agent to adjust that commission if they as a buyer do not have an agent. If that is not agreed to in the listing contract AND been disclosed to other agents, then they can not do so legally. Engaging in a variable rate commission and not disclosing it (essentially making the playing field even so everyone knows the rules) is a violation of the NAR code of ethics, and in many states, a violation of the law.

Id say in my market place somewhere around 1-2% of properties have disclosed variable rate commissions. Although honestly I bet 50% of agents have never even hesrd the term.

Thank you for the input!

0 Votes

Check past sales around the lake and see what value homes with lake views sold for. Use this information comparatively to your property.

Ensure you are in fact allowed to remove any trees prior to actually do so!

0 Votes

Originally posted by @Karl B.:

Originally posted by @Trenton Miller:

Originally posted by @Karl B.:

I bought a 4-plex (my first multi-family purchase) without an agent.

No agent = more leverage with the seller. Why?

Because when the seller realizes he or she is not going to have to pay 6% of the purchase price to an agent I can negotiate a lower price and the seller is more likely to agree.

The process was simple with the guidance of a good real estate attorney.

This can be accomplished only if the property is not under a current listing agreement. IE FSBO, off-market deals..

@Russell Brazil Can you please lend some expertise on this subject?

0 Votes

Originally posted by @Karl B.:

I bought a 4-plex (my first multi-family purchase) without an agent.

No agent = more leverage with the seller. Why?

Because when the seller realizes he or she is not going to have to pay 6% of the purchase price to an agent I can negotiate a lower price and the seller is more likely to agree.

The process was simple with the guidance of a good real estate attorney.

This can be accomplished only if the property is not under a current listing agreement. IE FSBO, off-market deals..

0 Votes

I would take the 60K and run. HOA's can be a pain to deal with in general. Use the money to invest elsewhere where an HOA is not present.

Side note* @ $300 per month it would take over 16 years to reach the 60K you can get with the current market value. Just some food for thought.

0 Votes

As stated above there is typically not a cost associated with using a real estate agent as a buyer. The seller has already negotiated the commission with the listing agent, which the listing and buyers agent split once the home is sold.

No, you do not need to, however, I would suggest having a buyers agent on your side. Especially if you are newer to real estate.

0 Votes

After watching Tiger King I would suggest defining what type of cat. Hahahahaha

9 Votes

All Forum Posts by: Trenton Miller

Trenton Miller has started 5 posts and replied 237 times.

Post: Contractor not meeting Deadlines

Post: How would you renovate a tenant occupied unit.

Post: Leverage Home Cable TV for Weekly Rental Property?

Post: Is Real Estate Agent Needed?

Post: Taking down trees for water view?

Post: Is Real Estate Agent Needed?

Post: Is Real Estate Agent Needed?

Post: Trying to decide to sell or rent my condo

Post: Is Real Estate Agent Needed?

Post: Shall I allow cats as pets???