All Forum Posts by: Account Closed

I am thinking of getting licensed but I a disability that would provent me from showing most properties personally (mainly those with stairs or other access barriers do to wheelchair use).

My question is....would I still be able to find success?

At this point it would just be for the education and to help others sell (referal fees, etc) but I want to know if I could still be an effective agent if I wanted to be

I'm very new but if it were me I would say "no escrow, no deal"

Hi from CA

To add: newbie to newbie, it may be a good idea to find an RE attorney who has/does work with investors at least fairly regularly, they may better understand the unique matters investors sometimes face.

In the simplest form, an LLC has no effect at all on taxes. None, zip, nada. The LLC's profit or loss flows directly to your 1040.

You can elect to have the LLC taxed as a C-corporation. That adds additional complexity, and, depending on how you distribute the income, potentially double taxation. If you keep the income just inside the C-corp or LLC taxed as a C-corp, then it would not be part of your personal income, but you would still pay the corporate income. You would be limited on what you could spend that money on.

I plan on doing that for most unrepresented private sellers(might arrange an opt out clause where I give the seller 500-1000 if can't cose, as reinbersement for the fees associated with taking the house off the market for a month without a sale, just my own ethics.).

I would like to (eventually) get into REOs though, they tend to be easy(ier) to find and (can) have a huge upside if you simultaniously (spelling?) close with a transactional lender.

As for represented sellers (mls listings) I think a realtor would have to be crazy (or bad) to allow (I know the seller has the final say) the seller to accept an offer with no/little earnest deposit. Am I wrong?

Just wanted to give you all an update, since I started toying with the idea of REI (month ago ish) and joined BP, about a week ago, I have learned alot, but on to the good stuff, no deals yet, (I don't even have enough money or contacts to feel confident wholesaling yet) but I have done this...

1. found a two decent potencial investors, (one on BP one CL) I'm in the process of scheduling video conferences with them as I'm out of my target area (Sacramento, CA) for a few months.

2. Found a flipper on CL who is willing to give me a commission if I can find a buyer (I'm not a realtor but I emailed him about trying to find a buyer for him as I'm a wholesaler (he was familar with wholesaling) and he agreed) It won't be a wholesale deal but its good experience (I will post the property and number run down as soon as I get the specifics).

I hoping to scrape together enough cash to form an LLC (thank you legalzoom)and have some money for earnest deposits (when I finally to find a deal).

Kevin

Wondered that myself....

Good advice but a little late. the thread is to years old. lol

thanks for pulling it up!