All Forum Posts by: Jason Nesbitt

Bumping this post.  Do any CPAs or other investors out there have experience using ROBS to fund RE investment business?

I also want to know the answer.  I am being told by reputable sources that you can use a deferred sales trust to defer capital gains on the sale of a primary residence.  Has anyone done this?

We do fix and flips using hard money and they require lien wavers to be signed before releasing funds.  We pay the GC first and then seek reimbursement from the construction loan.  When we decide that we need a draw from the construction loan, we ask our GC to sign a lien waver for what we paid and they have no issues doing so.  You can absolutely get them to sign lien wavers as you pay them and I definitely recommend doing so.  In the fix and flip business, time is critical and you don't want to mess around with having liens on the property when you put it on the market. 

Hello All,

Our fix and flip business has had a lot of success and I am getting ready to quit my W2.  Very exciting to get to this stage but it raises a few finance questions.  I would ideally like to tap into my 403b to fund fix and flip projects without triggering major tax consequences.  I have done some reading on the Rollover Business Startup (ROBS) program and have spoken to a few companies who are confident that I can do so.   My accountant who is excellent has some reservations and I am meeting with her to discuss further. 

Has anyone used this program to fund a real estate investment business?  Do any anyone on this forum have experience with these programs? 

The more information I have before meeting my accountant, the better. 

Thank you!

@Wale Lawal. Thank you!

@Jason Clark. That’s a good tip. Although I think a broker can speed the process up a little bit. After posting this question, I met with a local Intero broker who offered my terms very similar to what eXp is offering. I think I have changed my plan and will try that out as Intero has a big presence here in SC county.

We should connect given that you are local.

@Ruben Garcia. Lion desk is not a CRM that I have heard of, so I am definitely going to look into it. Much appreciated!

@Bruce Lynn. Thank you fir the suggestion. I can’t seem to find the discount code for BO members, but I will look into this.

To all of you California eXp agents,

I have finished all of my courses and want to sign up to write my RE license exam.  I want to apply for my RE license at the same time that I apply to write my exam.  It looks like I need a broker to apply for my license.  The only problem is that I can only sign up with eXp once I have my license.  Catch 22...  Has any new agent in California navigated this issue?  I sent a request to eXp with this question but have not yet received a response.  

Hello BP community,

My wife and I are investing time and money into lead generation in the south SF bay area. We have been doing driving/walking for dollars and creating a customized list of homes we want to target (homes in disrepair in key neighborhoods). We have a business plan and a JV partner to do the flip. We have an attorney, a CPA, a contractor, and a seasoned local realtor in our network. As more leads come in (with more time/effort/money), our goal is to triage leads into listing the home on mls (once I have my RE license), holding and renting, assigning the contract, or flipping. I am the process of waiting to write my RE license. Can you all help me in recommending a good CRM for monitoring a prospecting campaign that includes direct mail and seo to start (likely to expand/change as we learn and grow)? I signed up for a free trial of a CRM but it was geared toward nurturing leads, not prospecting. Another point to consider is that once I get my RE license, the broker that I choose (currently leaning toward eXp) will likely provide a CRM. Therefore, whatever CRM that I choose should be able to export the progress that we have made in our prospecting campaigns to a new CRM such as KVCore. I would hate to start over...

Your thoughts and suggestions are greatly appreciated!