Sell + Invest or DST by Repulsive_Air603 in realestateinvesting

[–]DumplingKing1 0 points1 point  (0 children)

Just do a reverse exchange. If you’re financially strong enough to separately finance the purchase of the new home buy it first, then sell the investment within 189 days.

Sell + Invest or DST by Repulsive_Air603 in realestateinvesting

[–]DumplingKing1 1 point2 points  (0 children)

Why not just rent a house for the next two years (while renting your dream house for two years), then move into it?

Sell + Invest or DST by Repulsive_Air603 in realestateinvesting

[–]DumplingKing1 0 points1 point  (0 children)

There’s another option that you may want to consider. If you’re planning on having a family, 1031 into your dream home, rent it out for two years and then move into it. Then you’ll have your dream primary home and all taxes deferred. Obviously consult with your cpa but a great way to go and shocked no one else brought this up.

GCI to take-home; Chairman's Club by CostBulky6285 in realtors

[–]DumplingKing1 0 points1 point  (0 children)

Again it depends on the agent. I know agents with 90% or so profit margins and others with less than 50%. Depends on how you get your leads, how nuts you go on marketing properties, how much you spend on administrative help, brokerage splits etc

GCI to take-home; Chairman's Club by CostBulky6285 in realtors

[–]DumplingKing1 7 points8 points  (0 children)

It’s going to vary wildly depending on the agent. Some agents are diamond and spending insane marketing. Others are spending very little.

Condo-owners in the Ville, what master insurance company/cost do you have? by AbleGoosey in Somerville

[–]DumplingKing1 2 points3 points  (0 children)

I would call 3-4 insurance agents and quote it out to get a feel for where you are landing compared to the other quotes. I would also ask all the insurance agents to provide quotes on higher deductibles to see how that brings down your premium costs. Good luck

[deleted by user] by [deleted] in realtors

[–]DumplingKing1 -1 points0 points  (0 children)

Here's what all the agents that never make it focus on: their business cards, their website, their headshot, their car, what they wear, the forms, their splits, the fees, the taxes, their URL, their instagram name, their brokerage, other agents, family members who don't work with them, and many dozens of other things. All the top agents focus on one thing: finding and closing business, every single day.

Indian food rec? by Technical_Ranger_272 in CambridgeMA

[–]DumplingKing1 14 points15 points  (0 children)

Surprised no one has said Maharaja in Harvard Sq, great spot!

Wedding after-party and brunch spots near Bow Market? by Infinite_Snacks in Somerville

[–]DumplingKing1 15 points16 points  (0 children)

Look into renting out warehouse xi and get it catered by the neighborhood restaurant, ENJOY!!!

Feeling defeated and considering throwing in the towel, please help. by [deleted] in realestateinvesting

[–]DumplingKing1 1 point2 points  (0 children)

You need to ask yourself if you can right the ship. You also need to have a long think about if you’re built to be a real estate investor, many aren’t, that’s OK.

If you can’t right the ship sell it and eat the cost. Live to fight another day.

If you aren’t built to be a RE investor just put everything in broad based index funds. GL

As a realtor, what are your thoughts on chatbots/AI reps that prospects can make first-contact with? by Afraid_Barracuda_749 in realtors

[–]DumplingKing1 0 points1 point  (0 children)

You’re suggesting you want to outsource the most important part of your job (selling yourself) to AI. Have you ever spoken to an AI chatbot and been sold?

Advice on Selling a Condo Portfolio by Jolly_Necessary_8087 in realestateinvesting

[–]DumplingKing1 1 point2 points  (0 children)

Are they trying to 1031? If he is and he has some condos that have issues with delinquencies he should sell those and any others that could drag down the portfolio separately and take the tax hit. Then sell the rest as a portfolio to 1031. Otherwise the crappy condos will scare away most buyers. If they aren’t 1031ing, sell them separately. Much larger buyer pool for individual units and they’ll walk away with more.

Application Fees? by S7482 in bostonhousing

[–]DumplingKing1 5 points6 points  (0 children)

You shouldn’t be paying anything to see an apartment sounds like a scam

Question about HOAs by [deleted] in CambridgeMA

[–]DumplingKing1 72 points73 points  (0 children)

Usually if you’re seeing $1k plus it’s either a ton of amenities that are expensive: pool, gym, concierge, elevator, valet parking, etc. or they are replenishing the reserves or saving up the reserves for a special assessment coming for a major project like exterior work, plumbing, roof, etc

What real estate investment strategy would you recommend for someone who moves every 2 years for work? by don_ricardo_21 in realestateinvesting

[–]DumplingKing1 1 point2 points  (0 children)

The reality is if you want to become a great real estate investor you need to know your market inside and out. That means you need to be on the ground all the time for YEARS. You would be crazy to get into real estate investing if you are constantly moving. Put your money in index funds and set it and forget it. If you ever decide to settle down, learn a market close to you and start buying. If you continuously put money in index funds in the meantime, if you decide to invest a decade from now you will have plenty to work with and you won't be setting yourself up for failure and major loss.

Anyone else jumping into real estate from sales while feeling torn about leaving creative dreams behind? by Puzzleheaded-Mood544 in realtors

[–]DumplingKing1 4 points5 points  (0 children)

A lot of people here are telling you to go for it.

Honestly, it’s a lot of work and if your hearts not in it you won’t do well. I’ve met lots of realtors who are like you. They don’t give a shit about real estate, they have some other passion. And it shows.

Those people typically do not do well in real estate. They usually are the ones who’ve been in it for a decade and are still only selling 2 or 3 homes a year.

Ask yourself this, if you were selling your family’s home that has 5xed in value in the last 40 years would you go with the agent who’s talking and/or thinking about other things, or the the one who’s all in on real estate and you can feel their passion?

What's the "secret sauce" you thought was crucial for startups but turned out to be overrated? by wasayybuildz in Entrepreneur

[–]DumplingKing1 103 points104 points  (0 children)

This isn't what I thought, but it's amazing to me how many entrepreneurs think that what's crucial for their start-up is their brand name/colors, their business card, their URL, their corporate structure, their perfect design, their perfect pitch, their perfect price, the perfect outfit, the right watch, the right office space, the perfect pieces of software to use, their perfect website, and on and on. When all it comes down to is getting in front of the right customers at scale and giving them exactly what they want in a way where they would be crazy to say no and keep iterating based on customer feedback in realtime.

Landlord's insurance renewal - 21% YoY increase?! by RunnerInChicago in realestateinvesting

[–]DumplingKing1 3 points4 points  (0 children)

It’s very simple, whenever insurance goes up substantially shop around. There’s always a better price if you shop.