All Forum Posts by: Andrew Lax

Thanks guys - my partner does the Brokerage and we were discussing how to address the commission - we are fine paying just debating how to handle the upfront question when the Buyers agent calls about the listing ...

My thoughts were to simply state that Seller is fine paying a commission and put it in the offer - and he wants to offer the % upfront ...

Just curious whats going on out there- we are not active brokers so not up with current trends

Thanks again !!

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Starting to sell my portfolio of single family homes - curious how Brokerage Commissions are handled now.

Are Buyers agents negotiated upfront on the first call or does the sellers agents simply say "put it in the offer"

Thanks guys !!

1 Vote

Quote from @Mike H.:

Isn't the real problem with florida the lack of affordable insurance? And secondly, the risk of these hurricanes getting worse and worse and constantly beating down on people's houses? At some point, people just say enough is enough.

You have a lot of people on fixed income down there and the insurance increases are out of control. They're starting to throw their houses up for sale because of all the equity they've gained and many are moving to other states so they can actually get insurance on the new homes.

Yes on the insurance .... currently paying around 5k for small 1500 SF rentals ...

Hurricanes are just something to deal with a few months a year - we are used to them ...

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Tampa, Florida

Quote from @Maria Eloisa Panciles:

It depends on what kind of loan you are aiming for. For us, we offer different LTV and percentage. It varies if its Fix and Flip, Acquisitions, Refinance etc.

Long Term Rental ("LTR") ....

Just trying to feel out the market on private lending for longer term holds

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Quote from @Brandon Croucier:

As a broker, I work with people all around the map.
If you want to lend long term debt, you don’t want to compete and be the cheapest on the block (that’s a race to the bottom), you want to lend on stuff that nobody else (or a select few) will lend on and charge a premium for it. Happy to connect and work together potentially!

I dont want to loan to own if you know what I mean - Too old to take those kind of risks

This would be retirement income for 20 years ...

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All my properties are in Broward / Miami-Dade and we have seen values decline slightly.

Condo market is going to take a big hit and could be a good place to acquire some assets .

My friend owns a few properties in Cape Coral and is getting crushed ... He is not happy !!

1 Vote

Tampa, Florida

Long story short, I have been selling assets and plan to move back into the lending side of the business...

We had a small portfolio of Hard Money Loans over the years that have since been paid off so not new to the lending side.

My question for LTR investors - what would be an ideal loan for you assuming its for a longer term hold..

Please dont tell me 3% no fees, 100% LTV, close in an hour, no prepay etc etc LOL ...

Realistically, what would you want to see from a private lender?

Thanks guys !!

1 Vote

Quote from @Lisa Sluss:

Hi all -

I have a house on the market that is not selling. It’s priced below value, but people aren’t fond of the area, low walkability score, near a bus stop, etc.

I’m nearing the end of a hard money loan and I’m wondering if it’s possible to do a cash out refinance on a HARD MONEY loan. Will someone lend me money to pay off another hard money loan?

Ask your current lender to extend ....

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Atlanta, Georgia

Quote from @Ting Liu:

I bought a building with a partner several years ago. But the building and loan were both under my name. My partner was not any official record. Recently we sold the building. Yes, there is some gain. I'm just wondering how to handle the capital gain tax between me and my partner. Thanks!

Dont distribute anything until your accountant does the tax calculation then reduce your partners final distribution accordingly

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Late to the party here but as a Landlord I find this interesting....

Question - How can a Tenant assign its Security Deposit without Landlord Consent ?

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Saint Petersburg, Florida

All Forum Posts by: Andrew Lax

Andrew Lax has started 9 posts and replied 62 times.

Post: Sales Brokerage Commissions

Post: Sales Brokerage Commissions

Post: Is Florida real estate headed for a downturn?

Post: Private Lending - Whats your ideal loan

Post: Private Lending - Whats your ideal loan

Post: Is Florida real estate headed for a downturn?

Post: Private Lending - Whats your ideal loan

Post: Hard money cash out refinance loan

Post: how to split the tax with partner

Post: Unbelievable Florida security deposit claim lawsuit!!!