All Forum Posts by: Aaron Williams

@Brandon Vukelich Happy to connect as well. Born and raised in Boise as well as been in residential real estate in Boise for 21 years now as an investor/realtor/STR/house hacker.

Hi Colby,

I'll DM you. I'm happy to get you connected here in Boise and help find your next deal. 

I'm born and raised in Boise and have been in real estate for 21 years now. I invest, am a full-time Realtor, own and manage short term rentals and house hack. 

@Kuba F. Interesting. I'll check it out.

@Caleb Ray Taxes for us as a multi member LLC was a breeze with our CPA. I'd imagine if you plan to file your own taxes it could be more complicated.

Sounds like it would be beneficial to have an attorney help you write up your partnership agreement. Like @beardybrandon said in his latest podcast...something to the effect of... I'd should have spent a couple extra hundred dollars up front to inspect the pool because now I've spent approx. $16k in pool repairs that I could have negotiated into the deal initially.

Hope that helps!

I started out w/ my brother as well 21 yrs ago. We created one LLC and 1 bank account for that LLC and were both members and signers on the acct. We trusted each other and just kept a good financial records. We were always 50/50 on everything to keep it simple. With any future partnerships, I would definitely create a strong operating agreement w/ defined rolls for each person. The one thing I would think about going into a partnership is knowing that there is high probability that partnership will end at some point in the future. So think about how you both plan to exit and dissolve the LLC in the future and include that in your agreement. I'm not an attorney or CPA nor do I play one on tv. This is just my personal opinion.

Agree w/ the above mentioned. More upside to Boise due to the larger and growing economy. There are currently 13 duplexes listed in Boise proper from $400k - $500k. Are you planning to owner occupy and house hack? If so, there are tons more options to help you cash flow. Feel free to PM me.

@Jim D. Shoot me a DM and I can steer you in the right direction. I'm a Boiee native and full-time agent/investor here locally in Boise.

@Bryan Laufenberg As an agent in Boise, ID and from the comments above I can tell commissions vary from state to state. They are negotiable and in my market they are typically 6% split 50/50. 3% going to the Buyer's broker and 3% going to the Seller's broker. The seller predetermines how much they are willing to pay out to both sides before they list their house. The Buyer's broker commission is disclosed to the Buyer broker through the MLS. When signing a Buyer Representation Agreement, the buyer is agreeing to how their agent/broker will be getting paid. This should be negotiated before/when this agreement is signed. Typically, the buyer is agreeing to pay their agent/broker 3%. However, this is actually getting covered/paid from the Seller's proceeds at closing. BUT, for example, if the seller is only offering a 2% Buyer broker fee, technically, the Buyer is liable for paying the 1% difference. In my opinion, and how I work is just receiving whatever is offered from the Seller on their MLS listing and not require my Buyer client to pay the difference.

Getting back to negotiating a Realtor's fee. I agree with @Steve K. in that you get what you pay for. How much experience does your family/friend Realtor have? How many deals a year do you plan to do with them? Are they finding you off market deals as well as on market? Have they been able to save you money during the negotiations? I believe there is some truth to the answer (as cheesy as it is), "If an agent can't defend their commission, how do you expect them to defend and negotiate for you when it's your money?" So, what is your agent doing to earn their full 3%? If they have a lot of experience negotiating real estate deals for years and years and almost more important, keeping deals together all the way to close, chances are they're earning the full 3%.

@Ryan Weimer I might be able to help you out.