All Forum Posts by: Tyrus Shivers

@Andy Gross

Experience gained by driving around and getting a feel for the neighborhoods if you do not live in the city or immediate area. You have to have some level of involvement to know what works and what does not. In every area or city there are good and bad pockets. Even the worst neighborhoods have good people and the potential for good investment. So from my experience getting in and talking with the residents about how they feel or what they think is a good way to understand the nature and atmosphere of any place where one might want to invest. A lot of new investors start with the big name places like Fells Point. Or some may start around the colleges such as Morgan St., Johns Hopkins, or Loyola. A good agent that knows the area can assist. Or you can reach out to local investors to get an idea.

Baltimore city as we all know is very block to block. It is hard to meet the 2% rule for properties that are in good condition in low crime areas. 2% is attained easier when the properties drop under 50K. Most buyers are moving to the county to get away from the crime and board ups. Lead paint is an issue, crime is an issue, and the general condition of the properties. People just do not take good care of something they see has no real value to them.  @Joe Impagliazzo I see tons of people everyday looking for buy and hold financing in the city and cannot find any. So you are in a good position if you are lending there. What I also find is a lot of the "turn-key" providers are in those rough sections of the city where tenants stop paying rent or lose their voucher. So make sure there is some sort of guarantee there if a "placed" tenant does leave or get evicted.

Another way to look at this scenario is that a solid relationship must be formed between the owner and the manager. Just selecting a person based on paper or promises without meeting and vetting that person is a recipe for disaster. No one will manage your property like you, but if you show support to the PM and keep in contact, essentially managing the PM then it will turn out better. For most PMs that do poor jobs it is just their character. If you put them in a restaurant they likely would mess up your order. Maybe being a PM is not their strong suit, but it is getting the bills paid. So it is ultimately it is up to the owner to select and work with a good PM.

For owners you have to be responsive. What I see from owners is that they want the PM to do A-Z, and then do not want to answer the call when a pricey repair needs to be done. Also, owners are buying properties that are not good investments and expect a PM to work magic to make it cash-flow. More and More new landlords lack information and knowledge and cannot effectively manage their own property or know what to expect from a PM.

So it works both ways. A solid foundation between the owner and the PM will help. If not move on to either a new owner or new PM. I am very selective in who I will manage a property for, and I expect them to be selective with who they ask as well.

@Anil Samuel 

The broker will get your license and it should be about 5-7 days. Maybe sooner. It did not take my long to get an email from my broker with evidence of the license in his possession.

@Sean Connolly

I would say do it. As others have said you have to set a schedule and follow that. Even full-time agents do not just run around at the whim of clients. They schedule things appropriately. It all depends on your schedule and your clients. Be up front about it. As an agent what I have found is that even full-time agents are hard to get in touch with so to say a full-time agent is always available and ready to go is not factual. Everyone has a schedule and priorities. Once you get that ironed out you are good to go. I work full-time, but I am more responsive that most of the full-time agents I know. You can do it!

@Edwin Duran

@Philip Cali is right. Attend networking events and find out if there is a need. For me I started because people were asking me left and right do I know any good property managers. So I decided to offer the service. I would suggest also you learn before you jump in, build a team of contractors, build some relationships with other managers or experienced landlords who can be go to guys for questions. Its all about relationships. For any business you have to solve a problem or make a connection for people in order to be successful.  

@Anil Samuel

You have to choose a broker first. They are sponsoring you for the license so to speak. You need their license number to continue.

@Anil Samuel 

Congratulations! There are good training programs everywhere and there are many options for you to consider. Even if you join a small brokerage there are people there to help you and mentor you through the process. I suggest you look at what each offers, and decide what fits your profile and goals.

@Christian Bors

Also as a note, the owner makes the decision whether or not to have a photo for those reasons mentioned above so the agent does not have the choice. Most agents who list properties attempt to get the pictures on there ASAP.

Are you looking for honest, ethical, responsive real estate services?
Look no further!

Are you looking for an investor-agent? Someone who is an investor, but
also has a Real Estate license that is willing to work hard for you.
Are you tired of looking for someone who understands how an investor
thinks? Look no further! I am willing to assist investors looking to
purchase rentals, rehabs, list flips, etc. I am an investor, so I will
work the numbers and send you both MLS and off-market deals that make
sense. The only thing I ask is for serious buyers who can and will
perform so no time is wasted. I work in both Maryland and Alabama. If
I cannot help you, I can refer another investor-agent who can. I am a
licensed Realtor with Douglas Realty, Pasadena, Maryland and I work
with an Investor-focused broker in Montgomery, AL.

Also, I am announcing the addition of property management services in
Maryland under my company banner. I am providing all aspects of
property management and tenant placement services. Not only will you
receive 1st rate services, you will receive the honesty and
responsiveness you deserve as a property owner. Owners can feel
confident as I handle A-Z while you collect monthly cash flow.

Please contact me at [email protected] with your needs and I will
work with you to achieve your goals.

Thanks!
V/R
Tyrus Shivers
President
CAS Property Investing
Direct: (240) 621-0193
Fax:(1443) 276-6847
[email protected] (Business)
www.cashomebuyers.com
REALTOR