All Forum Posts by: Account Closed

Hey BP members!  I have a question about a current situation I am in.  So heres the breakdown:

EMD amount of $1,000 - selling agent was provided with wiring instruction (account and routing for escrow account)

Buyer used email to "wire" EMD

Somehow (guessing they did not do a wire but a transfer using my email address) the funds went into my personal checking account

What now?  Kind of summed it up to 2 ways

1. Cut a bank check from my personal account made to the escrow account, deposit it - and keep all documentation of why/how this deposit came from my personal account

2. Refund buyers the EMD deposit of $1,000 and have them resubmit the funds to the proper account?

Any help would be appreciated - I am located in CT but believe commingling laws are the same across the board

Jon, very helpful.  Thank you very much for the feedback its much appreciated

I am a full time real estate investor with 2 other partners (unlicensed) other then myself. I am starting a Real Estate brokerage which my 2 partners will be a part of (equally). Now, from what I had researched in Connecticut, the person holding the Broker license has to hold over 51% ownership of the Entity - is there any way around this? Is it OK that I hold the brokers license as 51% or does the entity need to hold the license? If 51% ownership of LLC needs to be held by myself (person holding brokers license), is it still possible for "back end ownership" to be held as an equal 33.3% ownership amongst the 3 partners (would this be considered the stock interest rather then % of ownership)?

Any insight would be much appreciated!  Cant find this information anywhere online!

Hello everyone!  I personally am a full time real estate invesor doing flips along with buy and hold mulifamilies.  Just got my real estate broker license and setting up the foundation to the broker and want to get everything set up properly via necessary online software/programs.  Would like some insite of different program packages others have used to start their brokerage.  From my research, there is no one program that does EVERYTHING.  What programs would you recommend that would encompass everything needed for a well operated brokerage?

E-signatures

Document organizer / storage

Accounting

Marketing

Etc

Any feedback helps!

Barreta Management serves most of CT and is based out of New Haven county and specializes in 3-4 family investment properties. 

Inbox me for contact info

Barreta Management serves most of CT and is based out of New Haven county and specializes in 3-4 family investment properties. 

Pm me for contact info

Barreta Management serves most of CT and is based out of New Haven county and specializes in 3-4 family investment properties.