All Forum Posts by: Chris T.

I'm flipping a deal to an investor who is using a line of credit from Bank of America.

Should I expect anything different then a normal cash deal?

Ok, thanks.

My understanding is that the profit is taxed, not a % of the sales price. With that being said, his profit is less then $10k so even if he did have to pay capital gains it wouldn't be that much.

It's been about 3 years since he's lived in it and he's owned it since 2001.
It has only been rented for a few months and for less then the mortgage payment.

Hello,

My brother is selling a home that he's owned for several years. It has been rented part of the time. Aside from his personal residence this is the only property he owns.
Does he have to pay long term capital gains tax on this? If so, is it 15% of sales price?

Also, how can he avoid paying it? 1031 like kind exchange?

Do Telegrams still exist?

What you can do with either one of the products i mentioned is import/upload an xls or cvs list that includes recipients' name and address, then it prints it on the cards.

I don't know if that's what you meant.

Shamefully, I think that Ron LeGrand's way of estimating costs is the best for someone just starting out.

You guesstimate in increments of 5 thousand.

I agree with Josh.

There has to be a better way then the annoying spray pumps that Round Up comes in! If there were a better way of dispensing it then the product would probably be more effective.

That being said, I've seen the difference and the results from companies like Lawn Dr and there is no comparison. Companies like these usually only charge like $50 for the first treatment and it sounds like that's all you would need. You do have to keep up with the watering or it won't work as well.

You'll have the best looking lawn on the block!

I agree with Andy about building rapport.
I am pretty new at this as well but the successful investors around me do exactly what Andy mentioned.

One gentlemen, we'll call him Gus is about 75 yrs old and he's a professional birddog. I guess you could say he's a free range wholesaler. He doesn't get tied up with contracts, advertising, etc... Every deal he finds, and it seems as if he has about 2 a day, he gets by talking to people. That's it! He is considered one of the best closers around by some of the most powerful, wealthy, real estate investors in town. He's simple, respectful, will talk your ear off, and seems to care about people. His words are, "To treat people every bit as well as they aspire for themselves to be. If they respect you and trust you then you'll make money." Picture some one like Robert Duvall ending every conversation with phrases such as, "I preciate yur curtesy. Thank ya fur your time. It was a pleasure visitn' wit ya."

He's tells me about properties that he could get for $65k but when I call the seller they tell me $75k. It's all about the relationship!

Another investor I know who has mentored me goes into a home, gives the children some attention, looks for things to compliment the seller about. Things that have emotional connections to the family. He always gets them telling a story about something they care about so that he can LISTEN.

Another investor I know makes it a point to talk to every seller for at least 30 mins before getting into the numbers.

Conversing with people is an aspect of selling that I am working on and it's how the money is made.

Peter is also right about getting the seller to name the price. First one who speaks loses.

In Texas, you don't have to use any money for consideration, however, I have noticed on my title work that the title agent always includes a $10 commitment. I honestly don't know if that has anything to do with anything.