All Forum Posts by: Tristan O'Reilly

Bought a home in nc paid cash for it. Have my old home i moved from mn. I still own the home in mn at a 4.25% mortage.  Trying to decide if i should sell and put money into stock market invest. The home in mn over 20 yrs averaged 2.8% increase per year. So thinking would do better with money in market.  Not sure of housing in 2025 and future. Thanks for any thoughts. 

My wife and I own two 4-plexs and one duplex. We have about 60% debt on these properties. Using 75% of the equity we have, we could invest about $300,000 in another multifamily apartment. We are looking for cash flow and appreciation. Currently, we self-manage our apartments. Our goal is to purchase a 12-to-20-unit complex that will cash flow with a property manager. Because we are comfortable with the outer ring suburbs of St. Paul, MN, we are looking to stay in this area.

 Hi Tristan,  Thanks so much for reaching out. At this point, I am looking for multifamily properties.  

@Kiersten Hegna I am surprised nobody has pointed out what should be blatantly obvious of what kind of agent did you hire? 

And did you do an exclusive buyer agent rep.? If did exclusive, that's a giant Vegas sized sign in neon you hired the wrong agent. 

In investment real estate we never, NEVER do exclusive agency on buyer side. It makes no sense, exclusive on buy side is not fair, it's saying "I own whatever you do, no matter how found, for all this time, and HAVE TO do anything with me and me alone no matter how crappy it goes". How is that any form of fair? 

No, you eat what you kill. That's fair. 

And as for on market vs off market, as agent, reviewing year states I am over 40% off-market transactions for the year thus far. I think that should be normal for an investment specialized agent. An investment specialized agent is more pro at digging up off market than on. 

An agent shoveling just on-market, there just plain wrong. It's right in NAR code that agent's are supposed to disclose there specialty, and not BS on what they don't know. But reality seems all but opposite, and that's the #1 issue that drives so many bad experiences with agent's. Wrong agent for the transaction and neither client or agent being honest on such.

Yes I have had client's where we went as many as 23 offers before we nailed one, BUT, there was specific reasons for the "why". The client knew exactly why, knew up-front the needle we were trying to thread, knew it was going to be harder than average. When have the right "team" you won't ever have a need to come onto a forum and ask. 

It's honestly simple, if not finding, are you asking what's wrong in your search operation? If have just 1 and 1 only, why if there not producing? 

You hired them to do a job, no? So why not hold them accountable to fulfill the job? If hired one to clean your home and home is dirty what would you do? Hire other cleaners right. So why is finding a purchase any different? There job is to find you your purchase, and to make it a done deal. 

And if answer is your signed exclusive, well then there is your 1st mistake. "Oh yeah, we will clean your place, but sign here saying you can't work with any other cleaner for month's reguardless of how we do, even if we do nothing". 

Exclusivity on buy side makes no sense.

@Tristan O'Reilly @John Woodrich Is the best REI accountant, he is an investor himself so he understands both sides well. I love using John