All Forum Posts by: Lance Hulsey

I use two different apps on my iPhone.  MileIQ is cool but costs $59.99/year and works great with a website login to manage miles.  My favorite is using the Intuit Self Employed App because it automatically tracks miles as part of the monthly price and updates your expense tracking.  Works great and will import right into tax return when you file taxes.  Those are the two I use and I think I will stop using MileIQ since I don't need to pay for two programs that do roughly the same thing.

For the sake of elevating our profession I need to correct the terminology of @Joseph Chan. The "Listing Agent" is the one selling the property and the "Selling Agent" is the one representing the buyer.  Here is an example for clarity:  

Traditionally, all agents involved in a real estate transaction legally represent the Seller (both the "Listing Agent" and the "Selling Agent.") When a Buyer's Agent is involved, the person buying the property is represented by the "Selling Agent," who is known as the "Buyer's Agent."

 @Jakeb Shelton My Wife thinks about it all of the time. I am more cautious and need to investigate opportunities. I wonder how long it will take me to build up business again in a new location. 

I like the LLC and after I read this book I was a firm believer. Less paperwork for sure.

https://www.amazon.com/How-Limited-Liability-Compa...

Hey @Jakeb Shelton I have thought about the same thing but a different geographic area in Washington. Here is what I found. http://www.dol.wa.gov/business/realestate/brokersl...

More importantly Washington State does offer a reciprocal license option. As quoted here.  Good luck. By the way Oregon does not offer this option and I know Vancouver is right across the river from Portland.

If you have a license in another state:

1. Request a certified license history from the real estate licensing agency in the state where you’re currently licensed.
   • If you’ve had an active license in the previous 6 months, you’ll only be required to take the Washington State part of the licensing exam.
   • If you qualify, we’ll waive the education requirements.

Congrats @Account Closed Read all of the CAR contracts and forms and learn them inside and out. Remember when in doubt disclose!  It will keep you out of trouble. Other than that, as a real estate agent you are a marketer.  As others have told you it is all about networking and marketing.  Putting yourself in the community will generate the leads you need to build your career. Have fun and don't give up. I am down in Santa Cruz and having a blast. If I ever have any clients heading your way I will let you know.

Hey Karen,

I am an investor and local Realtor in Silicon Valley/Santa Cruz and as a Realtor I can say that the Sunnyvale area is hot BECAUSE of the Apple Campus along with good schools and a well run city. I would suggest you think of the idea of selling this way... With the profits from the sale can you reinvest those profits into even better returns for your dollars invested?  If you think you can sell.  If you keep the Condo, you can refinance out some equity to invest while holding it for cash flow.  Have you run your numbers?  $500/month pre-tax profits ($6000 year) divided by the $625,000 purchase price is only .01% return on your money. Just some thoughts. 

Assessor's don't often like to rely on financial appraisals. They sometimes consider them to be biased towards a set price indicated in financing of the property.  The best resource is the sales comps.  Sales comps within 60 days of the lien date (Usually January 1st) or date of sale of your property in your state will usually be the best indicator of value for an tax assessor to rely on.  I worked for 30 years as a property tax consultant fighting the assessor's office on this exact thing and they hate financial appraisals. Try and find like kind properties that have sold around the time of your valuation and see where you stand on value.  By the way, you have three arguments for value with an Assessor.  Cost, Market (Sales) and Income.  Work all of the numbers and see what you get.

@Brian C. Thanks. I have already reached out to zoning and have a local land use attorney helping do some leg work on

Hey, has anyone ever bought or leased a lot in an area close to a freeway or major road to use to rent out for RV and boat storage?  In my area in Santa Cruz California I know of 2 lots that are crammed to the gills with boats and RV trailers.  I did some investigation and it seems like a pretty good cash flow scenario with low overhead.  I am assuming insurance, taxes and some local fees would be applicable as part of the expenses. Any experience in this is greatly appreciated.