All Forum Posts by: Dell Schlabach

As a rehabber, we use quick books, track all properties by class. Works Great.

One good one is infinetly more valuable than 50 not so good ones. I would focus on finding one good one.

We have four  buyers that we were able to sell all our wholesale deals to in 2014. Three of them bought all their deals from us. 

After taking each to lunch at the end of  the year I found their rehab goals for 2015

Buyer 1.  8 rehabs

Buyer 2. 4 rehabs

Buyer 3. 10-12 rehabs

Buyer 4. 8-10 rehabs

So between these four, I can sell them 30-34 houses.

My answer is you really need one, two is typically better, but i wouldnt be spending much time putting a big buyers list together. It is much more important to have one good buyer that does volume and can consistently close whenever a good deal is presented, then to have a lot of pretend buyers that cant close. 

@Bill Gulley 

Thank You for the clarification,  I appreciate it, somehow I had missed the updates in this thread. 

@Wayne Brooks 

 Gotcha, Appreciate the clarification !! 

This is the actual consideration, assuming if I am an agent, I cant hire another agent to be on my team and work for me directly? 

I have to be a broker in order to pay another agent on my team?

Appreciate all the feedback 

@Bill Gulley 

Appreciate your responses very much, Have questions and comments for each but out of time till later tonight, have a couple potential hot deals have to run and look at. 

Another Question if I may,  Say Agent Wise builds the Wise Team, and has four Agents working for him. Does Agent Wise pay those agents, or would Broker ERA pays each of those team members directly, based on some commission split with Agent Wise and Team Member? I suspect Agent Wise would want to be paid something for his team members, sales that he provided all the clients and leads for. 

The Agents with teams, Say Agent Anna is on the Agent Wise Team, from my observations the listings appear to always be in name of the Team Leader thus there seems to be a provision somewhere that allows Agent Wise to pay his team members a comission. 

Or can agent Wise only do this if he is also a broker?

Thank You @James Wise 

Question, if you were not a broker, but an agent working for a broker and you had a massive influx of business, enough to keep another agent busy full time, can you hire another agent to work for you? 

From your previous answer sounds like that would be a no go. 

So an agent that wants to grow and expand his business, there are only so many listings one agent can handle even with good support staff. How would you structure that? 

Appreciate your input. 

Welcome to bp

Although there is a lot of discussion about what the best structure is, and a lot of people talk about working on your business instead of in your business. It is important work on the business, to take time to think, plan, set up proper systems.  The most successful rehabbers I know locally, who have been around for a while, were first competent construction guys, and do much of their own work.

One of the guys I source all his deals for does 4-5 flips a year, and he has not had a year in the last five, where he didnt net over 140k a year. He works about 45 hours a week and takes plenty of time off for vacations, whenever he feels like it.   That may not be a lot to some of the guys here but I am guessing it is for the bottom 90% hanging out there on bp trying to figure out how to get into the fix and flip business. 

Wish you the best in your real estate adventures ...