The make money when you close. A lot of it. Broker takes about flat 150,000 for above 8 million. Don't retrade them, and convince them you can close. We once got a property $150,000 less than the top bid because we were local and had several units in the area already.
You can get the short list by looking on CoStar for whoever’s done the most transactions in your area.
These people help you make money, but they can also gank you for money. They become more professional after 100 units, or go in house. They take any where from 3-10% depending on your size. You can run your own but they only get profitable after 6,000 units. (Glenn Gonzales)
Double check their financials and check to see actual cash on hand. Visit the property by surprise every once in a while. Check to make sure they aren't taking kick backs from contractors for projects, trust but verify with a 3rd party. (Chris Tao)
<aside> đź’ˇ If you assume a loan, you can delay property reassessment by your local municipality. We encountered this recently in Jacksonville Florida and managed to delay property tax increases which is extremely valuable while you're doing value add.
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If you assume a loan, you can delay property reassessment by your local municipality. We encountered this recently in Jacksonville Florida and managed to delay property tax increases which is extremely valuable while you're doing value add.
Call your city first and ask what’s needed, especially when adding units.
Don’t colliers as your appraiser. Ask the bank to use a different person just in case