All Forum Posts by: Daniel Dexter

I would appreciate some objective feedback

I'm looking to take a loan from a close family member...I want to give them a decent return on their investment as you would with any other investor/partner that's fair to both parties. They are offering to front $150k, allowing us to put in a cash offer. I'm confident we can live there (saving us rent elsewhere) and double the value. I was thinking 10-12% compounded monthly..... Realistically I think we could cash out refi in a year. So $15-20k back to them and I'd be out of pocket for repair costs only. 

Thoughts??? What's a typical return for silent partners?

Definitely, would like to talk over a beer/coffee.

The long term goal is to start my own business, but in order to make the move and get settled in I have been applying for full time positions with some of the larger GC's in the are.

Id love to start my own business, but for now I plan on getting my license and see how busy it is running side work.

@Ryan Davis

Still a little undecided at this point how much longer I want to stay on the commercial side of things, but I'd rather be "over certified" for residential, and have the option to bid commercial work for now.

Wife and I are actually looking at the Greer / Travelers Rest areas on the N. side of Greenville. Its funny you say that, Tampa is crazy busy for us... actually looking to move to SC for a little slower paced lifestyle.... glad to hear there is still plenty of opportunity

What is your day job if you dont mind me asking?

Hey all,

I've been bouncing around the states a little bit.

I got my RE license in Michigan while going to school...graduated with a degree in construction management and took a job in Florida as a commercial construction project manager.

Long story short, I am moving to SC and would like to take the GC license exam when I get there.

However (and I have seen this in other states) SC requires a positive net worth to take the exam.

Can anyone explain this to me??? Can I stuff 6k into a brand new LLC and say this "new business" has positive net worth?....is this really a requirement to take the exam?

@Colin Mooney

Do you mind sending those, my way as well?

Yeah, it is definitely a painfully slow process. I took around 25 pages of notes while watching the slide shows and re-read through it a few times. The test (in MI at least) is straightforward. 

I have considered  getting my license here, there is no reciprocity agreement between MI and FL so I would have to do it all over again. I just graduated and started working full time as a construction manger so I have decided to pursue my contracting license in lieu of the RE license for now. 

At lease I have a decent idea of RE law for now....it would be nice to avoid those REA fees though.

Good Luck,

I tried the same thing in the Ann Arbor area and most agencies wouldn't give me the time of day.

If you do get some good advice please share! 

I took an online course and used these Flash Cards...they where a huge help. Passed the MI state exam with no issues.

As far as practicing after obtaining your license, I have no idea. lol

I moved to FL and never got a chance to practice...but from what I see there is a lot more "on the job" experience to gain after hanging your licence somewhere. Nothing to it but to do it.

Good Luck!

@Ethan S.

I work commercial contracting and see it everyday.

The low initial offer almost always costs more in the long run.

And at the end of the day the owner has paid more than agreed just to have a job fail inspection, and then has to pay again to have a good contractor come back and clean up the mess.

But that low bid upfront is just too tempting sometimes.