All Forum Posts by: John Rogers

That is why you disconnect the main breaker... That will separate the house from the electrical service coming into the house...

Electric to meter -- meter to panel -- once in the panel the electric's first stop is the main breaker. It's two poles separate the incoming 220VAC into two 110VAC "rails" that the smaller house breakers plug into, and then the house wiring attaches to those to distribute power to the house.

If you disconnect the main you separate the street from the house wiring, and because all the 110 VAC and 220 VAC breakers connect to the "rails", once you supply power through the dryer outlet (220VAC) you are connecting the generator to all the house wiring via both "rails".

Hope that helps...

The most important word to know is... networking.

Wholesaling focuses on two things... where do you find them, and who do you sell them to.

Your reputation is what will make you successful in this. Here in Florida, we find properties for Investors that focus on wholesales, and they are quite successful because of their network of buyers.

The point to remember is that for it to work, you need to not be greedy as every deal needs to be a win/win... or you won't sell it. If you guesstimate that you will mark up a house by say $ 5,000 and sell it to a rehabber, and a rehabber can make 20K in profit on a house, then you arwe doing 4 transactions to his one... Plan on having virtual assistants or working long hours.

Please don't think I am being rude, but when I started, I wrote a business plan, then reviewed it with my accountant and attorney...

Their advice is why I have the structure I have now... An "S" Corp. performs work, an LLC owns the flips and hires the other entity to rehab, etc.

You are talking about significant money here... you should consult a professional familiar with the laws of your State.

John Rogers

You should not have a problem at all...

Talk to your attorney about setting up an entity to hold title in so there is no conflict of interest.

We are a HUD Brokerage here in Florida, and all of our Agents are also investors... we encourage it.

Your questions are answered here...

http://red.nv.gov/Content/Licensing/Main/

As a Realtor who works with investors, the subject of "Comps" comes up...

Rather than offer the experienced investors my opinion about their business, I simply try and simplify it for them by providing links to the common sites that can provide that information independently.

Websites like www.eppraisal.com or www.findcompsnow.com are typical "go to" sites for a guesstimate of value.

If the purpose of being a Brokerage is to save money on your own transactions, you will need a lot of transactions to cost justify it.

Your personal presence is based on having a Brokerage and a Closing Agent who understand doing business with Investors. We work closely with a company that will perform "remote closings" on site, as well as "mail away" closings for signatures, and the money side can all be done via wire transfer.

Before you expend a lot of money and effort, establish some partners and systems to make everything more simple and efficient.

Nice to see you here.

I'm sure that the skillset you bring to the table, along with "product" will make you a popular addition to the site.

Enjpy,

John Rogers

For homeless veterans, here is a resource for you...

http://woundedwarriorhomes.org/homeless-veteran?gc...

Great market overview, David...

We should talk!

John Rogers

Florida Trust Realty (Residential & Commercial)