All Forum Posts by: William C.

Find a team in your area that is producing at a high level and join it. Learn their systems and processes. You'll either succeed and likely stay because they make it worth it, learn the business and go out on your own or build a team of your own, or fail like the other 95% of agents who get their license. The numbers don't lie, it's a tough business, and your basically on your own unless you join a team.

Yea, if you intend on living in that new property.

"As is" in my opinion is by far the worst marketing term ever used by a seller. In reality, ALL real estate is sold "as is". It's not like a car, where as is means no warranty. Homes don't come with a warranty, unless you buy one. So in my opinion "As-is" is the seller screaming please come low ball me because I know it may need some work and I'm not willing to do any. Get a seller credit, which will put cash in your pocket at closing to do the repairs. 100k with zero seller credit is EXACTLY the same offer as $105k with 5k seller credit, to the seller. The difference to the buyer is $5k more cash in your pocket at closing.

Is there a meetup for those interested in the Montgomery or Bucks county area? If not, is there anyone out there that would be interested in getting one started? Please reply if your in the area and would be willing to meet. I'm an agent and investor in the area and looking to network.

"Inquiries" affect your credit FAR less than all the other factors. It's impossible to put an actual number on it but my lenders have told me it's a matter of a few points each time it's pulled. If you have a 750 credit score and lose 5 points every time it's pulled, it's worth trying 5 banks in my opinion to get the deal done. I could be wrong like I said with the actual numbers, but in general, avoiding having your credit pulled because of the negative affects is an oxymoron. You have credit so you can use it, go use it. But as others have said, make sure you are having a conversation with the lender up front to make sure the product is something that will work for you, and if it doesn't find another product.

It depends on the property. Self managing should also help your cash flow. I just bought a triplex that cash flows a net of $2000/month when I self manage. We purchase under value and made improvements to raise the rents to market price. It's possible, all markets are different, but you gotta keep digging. My advice is to look for under managed properties that could use a little work and where rents could be raised, in my case I was able to double them. Had I used the sellers NOI I never would have purchased bc it didn't show cash flow. I knew the market could support 2x the rental rate.

Listen to the BP podcast's back to front. You will learn EXACTLY what it takes to get into the business. It starts with education and ends with hard work and determination. Network with individuals that are currently doing what you would like to do and add value in anyway possible. If you give to them, they will give back to you. Best of luck.

In my state you not only need 2 years experience as a sales person but you also need to compete a certain number of transactions in order to become a broker. Why not just buy homes as an agent? Or is your goal to hire agents and build a brokerage?

Michael Haynes what? I'm not sure what your point was but one thing is for sure, open houses and flyers in a tube do not sell homes, price sells homes. Were you implying your realtor wanted you to put new cabinets in so he could earn an extra 3% on the difference if you didn't have cabinets?

Also, what's the opportunity cost to hold that property and tie up those funds? If you have unlimited money then this is a moot point, but for me I'd sell ASAP to recoup my funds to reinvest in the next project. Something else to to think about, but as mentioned above, simply do the math. Maybe consult your CPA for some insight into the tax implications.