All Forum Posts by: Kyle Conrad

Looks like I don't have a choice anyway - called a removal company and they said if it's higher than 13 ft, most companies won't touch it. I may just hire someone to clean it out and leave it on the land.

To who?

So just bought a nice 2 acre piece of raw land to flip and not sure what to do with the storage shed (image attached) that's on it. The shed is large, in good shape, but has the old owner's belongings in it. I have no idea what the make/model is or where to find the VIN. 
My options are to 1) try to sell the land with the shed (and belongings); 2) Pay someone to haul it off 3) try to sell the shed before putting the land on the market. 

Does anyone have any experience with this type of thing?

 Interesting. This may be the easiest route to take. Thanks. 

I could - although I'm fairly certain there's a legal cap to the amount of commission you can take from a deal. With my investments (raw land), my issue is that I buy and sell the properties at a deeply discounted rate, so, for example, if I'm taking a 10% commission off a parcel that I owner finance for $18k, AND I pay closing fees and delinquent taxes, I'm not making any money. A lot of these folks will sell for cheap, but land can have lots of unforeseen issues and when you're stuck with it, you may be stuck with it for a long time. With no recourse. 

Obviously, I'm just trying to mitigate my risks as much as possible and, since I'm dealing with highly motivated sellers, I can often dictate a lot of the terms. 

 Great advice - I've been having major issues finding one. Thanks, Dawn.

North Carolina law states that "it is unlawful for an person or business entity to act as a broker directly or indirectly, without a license. The definition of real estate broker is a person or entity that lists, sells, buys, auctions or offers to do any of the foregoing or otherwise negotiate the purchase, sale or exchange of real estate or improvements thereon for others for compensation. There are two exceptions to receiving compensation without a license. 1. sharing compensation with parties to the transaction (the buyer or seller) and 2. payments to travel agents for vacation rentals."

My question is this: The seller I'm dealing with has agreed to allow my to market his property to my buyer's list in return for 50% of the profit I make on the end-sale (I'd pay closing and all expenses.)

Per NC law, how can I legally market a seller's property to my buyer's list? According to my attorney (who has very little REI experience) the 50% profit cut would still qualify as a commission. My thoughts are that I may could a) agree to actually BUY the property from the current seller once I have another offer in writing, then do a 'double close' and resell the property to the end-buyer or b) sign the contract with the seller, then assign it to the end buyer without ever closing on it.

Either way, I'm unclear on whether it's actually illegal to market a property I don't own.

Does anyone have any experience with this?

@Adam Schneider great advice, Adam - I'm thinking of supplying the purchase agreement and having my attorney get started on the due diligence with that being the first order of business. Very strange situation. Thanks again.

Thanks @Adam Schneider. I did call the county and was told the private drive does not have a maintenance road agreement and is not in any person's name. Basically, each part of the 'drive' that extends through someone else's property technically belongs to that property owner. So hypothetically, I guess someone could block access to the parcel, but I don't get the sense that would ever happen. If it did, I guess I could take it to court since it's the only way to access the parcel (and there's also another person living down there street, so they'd be denied access from their own principle residence.)

So based on recent comps in my neighborhood, I'm confident my residence will sell at a profit of about 15% from my purchase price- probably more. The neighbor's (similar) house just sold in less than 2 days and the market in my neighborhood is absolutely red-hot. 

My question is: what are some ways to capitalize on the market without also chasing the market on the other end when we re-buy? We've thought about renting, but rent prices are also sky-high for obvious reasons. There's obviously very low inventory in terms of foreclosure/short sales. Does anyone have any 'outside-of-the-box' ideas to help us capitalize on the market while not getting eaten up when we buy our next residence?