All Forum Posts by: Kris Lippi

 @Robert Musallam I would love to hear what is working for you with internet marketing. I'm a new agent looking to get started. 

Another funny part about the conversation was he talked about an agent that worked part time in his office but she always had listings "fall into her lap" which is another indicator that this guy is not exactly out there prospecting in the most successful way. 

I currently work in a large corporation with plenty of people who are just terrible at their jobs and not pleasant to be around. They get away with it partly because they are not having to sell anything to make a living. This guy on the other hand does and I suspect his negativity is getting in his way of being successful. While Joel makes valid points that most agents don't last, I have to think the more positive you are the better the results should be.

Recently I decided to pursue my Connecticut real estate license and I'm 2 weeks away from the end of the class and will then sit for the test and will work as a part-time agent. I figure this would be a good way for me to learn more about the business and to generate some additional cash to start investing in real estate. I'm going into this with no delusions that it's going to be easy money and I'm willing to put forth the effort to make things start happening for me over time but I do believe that I can be successful.

So I'm evaluating the different brokers around where I live and one agent has been hosting open houses on the corner of my block for the past few weekends and I decided to pop in and ask him how he liked that particular brokerage and basically network. This is how the conversation basically went.

Me: Hi, I'm Kris, I live down the street and noticed you have been doing these open houses the past few weekends. I currently going for my real estate license and wanted to see how you liked working for ABC brokerage?

Agent: You will not be successful <<insert a lot of completely negative one way dialog here>> It's a tough business.

Me: Wow, yea, I get it and I understand, nothing is easy but how do you like working for ABC brokerage?

Agent: Oh yea, they are good but <<insert a lot more completely negative one way dialog here>> It's a tough business. I hope I didn't ruin your plans.

Me: Not at all. Thanks, hope you sell this house, bye.

Personally I got in my car and was even more motivated then ever. I mean IMO this guys missed every opportunity to 1) network with a neighbor of the house he was selling and 2) network with a potential peer or coworker in the market. I just wanted to ask this community if this agent is just terrible or is it me being naive that I can come into this business part time and sell some houses.

I'm currently taking the Principals and Practices course at a community college in Manchester Connecticut to get my license. The course is covered by the Post 9/11 GI Bill, I do think the school needs to do some processing to get approved. 

If the online school is not very helpful you can try contacting a VA office at a local school and inquire about what your options would be. I was pointed in a couple different directions and each new person conflicted what the previous person said. It's frustrating to say the least.

Below is a link to a webinar that the Connecticut REIA hosted that covers the program in really good detail. Submitting your own report sounds like a good idea on their part to save you some points on your credit report from being pulled.

This program sounds interesting, however what I see as the catch is a 15% setup fee. So if they give you $50k in a line of credit they will immediately charge you $7500. They say it is offset by giving you a year or two of 0% interest. Also it sounds like the line of credit could be upwards of 8 credit cards from different banks. I'm also interested in hearing if anyone has any actual experience with this program.

http://vimeo.com/103324628

Thanks guys, what you are saying makes sense to me. 

So from a tax perspective, real estate would be treated completely different then say an equipment purchase for the business where I could deduct that from expenses?

Hi there, my question is really around taxes, I'll admit it is not my strong area and I do have an accountant that I will advise but figured I would see what discussions are generated here.

So for my example, I have an LLC that is generating profit and I would like to purchase some multifamily investment properties with that money. However, I would like to do that without paying taxes on it before I buy. Say if I formed a second LLC for purchasing the properties is there a way to use the first LLC's profits to purchase properties with the second LLC without paying taxes? Legally of course. For example, what if the second LLC is owned by the first LLC?

Any thoughts?

I have a NNN lease on a business in Connecticut and I just got the reconciliation statement today on the CAM's and the property management fee is 5% of total income (rents) of the property. The funny thing is that was the largest expense of the CAM's! This is on a commercial property with a major supermarket anchor store. This was my first year in the lease and I learned 2 things, 1) that NNN leases are awesome for the owner and 2) I wish I was the owner!