4plex owner
Downside to getting my license…I am a little embarassed at times to say I am a Realtor.I don’t even have a business card. I usually say I have a Real Estate License!There are some great people that practice Real Estate in more standard ways,so I mean no offense to any individuals. There have been years when I didn’t sell or buy anything yet I paid the dues & MLS.This has been covered many times over by better years though and especially by terrific deals I have gotten. I don’t pay commission when I sell that is a huge advantage.
As far as the sellers attitudes …well money talks bs walks. I use a one page letter of intent to make non-binding offers under specific terms. I send them out on as many as 10 different properties at a time, If you get a bite then you work with it. Any day of the year I can get 10%-%20 under market for my goals. The key is to stick to your parameters and keep emotions in perspective..Very often the best deal out there is at or near full price. Some people just list low. If the opportunity is there you jump on it because you have your finger on the pulse of the market all the time. I always want what the seller is selling plus opportunity that I see that other people are overlooking or don’t care about.Then I sacrifice and work like hell.Look I am small time but this stuff works and my main goal is to stay away from a real job. When I write an offer for myself I leave the commission in the deal and take it out as the negotiations are closer to final. It drops my taxable income and lowers the property tax base, barely.I am not going to mislead you I am small time but it works and as someone who started from scratch everything helps. Anyway I am a natural borne do it yourselfer. Hopefully I am getting my stride going into a better market for my style and skills.Also I pick up the occaisional buyer who for what ever reason connects with me. Because of the strength of the connection I have nearly a 100% client to sale ratio. I give rebates ,roughly on a sliding scale with purchase price. In turn they don’t expect me to do things I would rater not do like pre-screen million houses. I have basically refused to sell anything to anybody since spring 2004. I have three clients (buyer’s right now) and I am telling them time is on their side.I tell them to check into this site. One is looking for a business deal,rehab and rental and he will probably be first to go because he can get ahead of the curve whereas someone looking for a “dream home” is just stuck basically if they are also fiscally conservative.
Forgive me for writing more than you asked for. I just felt like being helpful to anyone reading who might be inclined to do as I have done, or something like it. Also if you already own a 4plex you will probably want to go for it and get your license. Maybe you could take property management along with licensing courses if you haven’t already?
Best wishes.