All Forum Posts by: David Ackley

Hey All, 

I am currently managing a 4-plex for a friend which he just recently bought and inherited tenants. 
Being fed by a single meter, The previous owner had been charging flat rent and then having them Venmo her an additional fee for the utilities once she paid them and divided it by 1/4th in order to divide it equally to the 4 tenants. 

I’ve spoken with all tenants and they all agree that it’s an unnecessary hassle and are fully on board with bundling utilities with their rent into 1 single flat monthly payment. 

What would be the best way to handle this? 
Can I have them sign an addendum to the current lease contract stating that they agree to have the flat fee bundled?

Bonus points if you have an addendum that you’re able to share!

Hey all, 

I've just put in an offer for a client who's pre-approved with her father as a cosigner.

They are TN residents & the daughter is moving here to KY for work & is purchasing the property as her home.

I've been told that as co-signer, the father could get hit with KY income tax as putting his name on the deed will make him a KY resident.

I believe that only applies to a property that creates a flow of rental income, correct? 

Any truth to it?

TIA

Hey all,

I just passed my licensing exams for the state of KY and am trying to decide which broker I should hang my license with.

A bit of a unique situation because i've had the opportunity to intern with an eXp team in LA for the last 6 months who's production is in the top 1.5% nationwide.

I'd love to join the team because theyre great to work with and the value is unmatched. However; I'm having trouble determining if it's still in my best interest considering that I'll be moving across the country to KY in the beginning of March which means i'll be a solo agent with the rest of my team in California.

After interviewing with several brokerages in town I've now narrowed it down to signing on with the eXp team vs. a local high producing boutique.

I understand that the two are drastically different but having no real experience as an agent i'm finding it difficult to determine if I'll get more value & be able to scale faster while learning directly from the eXp team which seems like a great way to stand out in my small KY market considering that i'll be able to keep up with what's working in LA before my market responds to a change a year or two later.

Heres a quick rundown on how the numbers stack up:       

            eXp:                                                                                 Boutique:

Split:            - 75/25 ($8,000 cap)                                                                - 75/25 ($12,000 Cap)

CRM:           -Follow-up Boss Provided                                                      - Not Provided

Mentor:      - Assigned for 1st 3 transactions for an                              - Assigned at will, mentor receives 5% of the broker's cut

                       extra 20%

Tools provided: - Breakthrough broker, eXp suite                                - Docusign

Fee:            - $50/Month Desk fee ($600/yr)                                                           - $85/Month Cloud brokerage fee ($1,020)

Transaction Coordinator: - Yes                                                                 - No

Floor time/Phone duty:     - No                                                                 - No 

The boutique doesn't really provide any training & only has meetings every other thursday due to all of the agents being a bit older & having been in the business for years but they do seem to have a good mentorship program where I can be assigned directly to one of them who's a top producer in our market.

What would you deem more important in this given scenario?

The local support that the boutique has to offer OR the amazing training & virtual support offered with a top 1.5% exp team???

TIA