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All Forum Posts by: Jared K.

Jared K. has started 6 posts and replied 204 times.

Post: Yard Sale leads...what? Where have you gotten leads rarely discussed??

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

@K. Marie Poe Great idea!!! Sounds like it has been working for you, nice work!! I will have to try this one out!

Post: How to effectively compete against other investors

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

@James Wise Reading too deep?? We are not discussing Fannie Mae & HUD properties specifically. Sorry you may not understand.

@Isaac Figueroa   POSTED: Does anyone here have any general info about the best way to compete against other investors in regards to landing houses on the  for rehabbing and selling?

I offered a solution that I have heard works in this scenario. It is not illegal and the discussion wasn't Fanny Mae & HUD specific either. Isaac stated houses on the MLS, not specific to Fannie Mae & HUD properties, which may be the only good deals in your area but maybe not the same for his area. Regular people list fixer uppers too or properties that could just use updated and landscaped to make some $$ on the property. In these areas where the competition is fierce, properties rapidly appreciate, and selling for top dollar this is common.

The question was asking for solutions and that's what I have attempted to offer here besides "offer more $ and if you loose you loose", pretty sure he already knows that thus he posted this question looking for ideas.

Isaac: As I stated before adding $125 to your offers on properties (OF ALL ORIGIN) will help you land more deals period. Here in the real world where I live agents and brokers alike will pass deals under the table to the guy who is paying them a bonus and that's a fact. It may not be ethical for agents to do it but that's what happens all over the country every day. I have seen deals that popped on the MLS to only be gone in minutes that were NEVER even advertised before and it didn't matter who was selling them either. They shopped it to their investors, sold it before they even listed it and then changed the listing it as sold right after, happens every day. So, the only way to insure that deals get passed to you is to offer a $1000 bonus to the agent if you buy a deal. Some of the others wont even know about the deals and if they do make an offer then I bet yours gets an earlier date or earlier time before it gets turned in than the other guys. Its a sad truth that things like this happen but they do so I offered you a way to offset that.

Hope this clarification helps!!!!

Post: How to effectively compete against other investors

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

@James Wise I see how you might read it that way but that's not what I meant. If you offer the agents an incentive to bring you more deals they will and they will be more motivated to rush to the office and put your offer through instead of letting it set around before submitting it to the bank later that day or the next. If they submit it sooner, get on the phone and work it harder then your chances of an accepted offer before the competition is greater plus you will know about deals before they hit the MLS most likely. The agents will work harder to get the deal done and fast to get that bonus!!!

If he is missing out on deals by $100 then someone is getting a hint on what to offer or something so this is the only legit suggestion I could offer b/c someone is getting put on the back burner. It really sounds like things are crooked in his situation so this is the only creative thing I have heard works.

Another idea: He might also start structuring his offers with an extra $125 to the price so he trumps the competitions sneaky tactics. For example offer $100,125 just in case someone else if offering $100,100 to beat him out of deals. This way his offer is $25 higher.

Post: What rent discount do you give for paying a year in advance?

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

I would never accept the money in advance for a year, a month yes but a year no, and here is why!!! How would you handle the funds should she have to be evicted?? She would most likely be due a refund but if she has paid in full good luck evicting, would make it tougher to do in my opinion b/c the tenant would have a lot of leverage in front of a judge but thats my opinion.

Post: How to effectively compete against other investors

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

@James Wise  Yes I meant all cash etc and the typical tactics as well but there is nothing wrong at all with offering $1000 bonus to buy properties just as sellers offer an extra $1000 selling bonus commission if sold before a certain date. If its lawful for a selling agent there should be no difference for a buyers agent. It happens all over the country every day so what's to report?? Lots of people make offers this way. I bet he gets more deals!!  

Post: What would you do with this deck?

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

I just helped my parents with their older deck and we had great results!!! Before we started it had green mold on the boards and was sun faded badly but was a sound structure and wasnt rotted. We bought deck wash at Lowe's which washed off with a garden hose and a spray nozzle so no possible damage using a pressure washer. We then used a dark reddish wood stain sealer on the whole thing and it turned out great!! Was a lot cheaper than a redo that's for sure and it looked like a new deck when we were done !!

Post: How to effectively compete against other investors

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

@Isaac Figueroa It sounds like to me you should find another agent/broker or these hedges have all of them in their back pocket one!! That or the agent is buying them. There is no way $100 should consistently beat you out of getting houses. Anyone could tell you to overpay for houses and you will get them but to me that's ridiculous!!! 

It all boils down to money right??? YES IT DOES!!!  Fax every brokerage in town that you are paying a $1000 bonus on top of the commission on deals you buy and I bet your offers get accepted at a cheaper price and faster, well enough to make up the $1000!!!! You will be the new inside man!!!!

There's more than one way to skin a cat!!!!!!!!!!

Post: Ordering the Title

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

 These terms on who pays for title can and should be negotiated along with price and should be included in your contracts. Its typically the buyers responsibility to pay for it but it also depends on the chain of title (how the property is transferred) and any prior agreements. A lot of times the buyer and seller split the costs along with the taxes but it depends on what is negotiated. Doing an assignment your not actually on title (from what I understand) so I will be honest and say I don't think you have to pay for title for you but your buyer will. Either of you  can call the title company to set it up to be done but I usually do it when selling.

Usually the cost for the title work is paid for at closing from the proceeds. 

I never actually order title until I have the deal sold b/c I don't want to have to pay for it if I don't sell it. 

Done my best, hope this helps.

Post: What is something nice I can do for apt residents?

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

I don't know how your people pay their rents but a book of stamps would be nice and inexpensive if they mail it in!! Might be a little more than $5 but I am certain it would be appreciated. I have given cards and candies at Christmas to all my tenants but it was more than $5. There's several websites you can get small things from for advertising with your name on them (ex. ABC APARTMENTS and the phone #). I myself have received these from a place I use to rent several years ago. 

One gift I used A LOT that I received was a calculator!!! It had the property management companies name and # right there on it which was very useful!! Great advertising technique too!!!

Go with the calculator!!!!!

Post: Why do investors choose to mentor newbies?

Jared K.Posted
  • Real Estate Investor
  • Somerset, KY
  • Posts 211
  • Votes 64

Many reasons really but sometimes the teacher learns during the process. If you have to reflect on how you did something "by the book" it makes you evaluate your own situations the same! Then again when you are being creative teaching anything you think of things you never have before. 

When I encourage people in any way it recharges my positive mindset batteries!!!!!!!