All Forum Posts by: Bethany Kerr

I agree with the above statements.  I am a licensed agent and just started flipping houses, but real estate sales is my first line of business.  As a rehabber, my license does prevent me from marketing my flips before they are complete, which is a bummer.  Coming from your point of view, it might benefit you more to choose an agent you'd like to work with that will share market information on an ongoing basis and list your flips.  There's a lot of time and expense to maintaining a license as well as experience you need to gain through selling to actually have a good handle on the process.  If you plan on making sales part of your income stream, I'd consider getting your license.  

I'm sorry...I didn't make myself clear.  He was paid 35% the day the house closed.  I'm asking about projects going forward.

My first flip closed in March and was a huge success.  I self funded the project 100%, but, agreed to pay a friend 35% on my first flip for his knowledge from pay flipping experiences with a family member.  He helped with managing contractors, making runs to the house when I wasn't available, painting, etc.  I'm currently under contract on a new property that doesn't need nearly as much work as the first.  I don't feel that I need him for more than odds and ends tasks that I'm more than willing to pay for, but, do not believe 35% is anywhere in the ballpark of what would be appropriate to pay.  I found the house, comped the house, have already had contractors quote the few jobs necessary and will be employing my 16 year old son to do things like pressure washing and painting with me.  I need to have a conversation with him in the next day or two because I can see he's assuming the same pay for this project.  I feel like I need to move towards and hourly pay or project based pay at this point.  Any input is greatly appreciated.