Don't waste your time on the 990 plan

[Dave Ramirez]

When you put an ad on craigslist expect at least 3 calls a day from real estate agents. Expect them to bend the truth at least 3 times as well on the call. This one was particularly bendy. I listed the problem as FSBO. He promised to list my property and charge me $990. I said I would like to hear more. The whole story is if I find a buyer I pay him $990. If he finds a buyer I pay him 4.5%. No thanks. I can get 4.5 with most seasoned real estate agents if the property is in excellent condition. I can lower the price by 4.5% and start a bidding war. If your a seasoned investor you should stay away from the 990 plan.