All Forum Posts by: Marcel K.

My buyer is under contract on a wholesale deal for almost a month now. Today we found out the property has a memorandum agreement lien on it . Supposedly a brother and a sister own it, but only the sisters name is on the title, so brother filed the lien. Title company’s underwriting is  allowing to insure it, and will be holding all proceeds until courts figure out who gets what from the sale, which could take a long time. This will be a buy and hold but title company said if buyer tried to re-sell, ONLY that title company would issue clean title to new buyer, no other title company would...

Anyone ever experience situation like this ? This is a first for me, and obviously I want the best for the buyer. They don’t have an attorney yet btw.

@Albert Chun

Hey Albert, the BiggerPockets podcast is fantastic for anything RE investing related, but I also like to tune in to Keeping it real by DJ Paris podcast. They are based in Chicago and talk to a lots of Chicago brokers on their show. Very interesting and might be helpful to you.

Originally posted by @Billy Linn:

@Marcel K. Are you wanting to track some of these expenses per property also?

That’s in the near future. are you talking quikbooks ? 

Hi I am a newly licensed agent, well signing with a broker on 10/1 so not technically BUT besides that, what do you guys use for basic expense tracking ? Like class fees, licensing fees, mileage, printing, advertising, mls fees, broker fees, association fees etc ... 

thanks!

Marcel 

So the time has come and I scheduled my real estate agent exam for the end of August. I’ve heard how difficult it is and that a lot of pros have failed it. I study the vocabulary terms daily and got the wisconsin real estate VUE book. Any pointers or advice on how to pass this thing for the first try? Thanks 

Hi there so we’re looking at a SF property flip that will need some substantial work in order to make it livable. It’s assessed at 181k by the city... on average in today’s market a “ done” house out here sells between 5-10k over assessment, but never know just to be safe. It’s a tri level so not a full basement. Has a newer roof and new heating and cooling. NEEDS - new paint on wooden siding. All new floors/ carpets and molding through the whole house. All new paint on all walls, just plain drywall now . New vanities in baths. New drop ceiling in lower level. Also the pipes froze at one point this year so not sure how serious that is. What would you pros pay for the property as a cash deal? Asking is 175 , and we’re aware the listing agent is out of his mind. What would you guys offer?? I was thinking no more than 140 is that still crazy?? Thanks

thanks so much for taking the time responding to my question! 

Asking for a friend. What’s the best way to invest 500k? Good friend of mine owns 2 side by sides for the past 15 yrs. Stock market is leveling out and it will not be as exciting as last year, so he’s looking for a new way. What do you guys think or recommend would bring the safest ROI ? What’s the average you need to be a syndicator??

Asking for a friend. What’s the best way to invest 500k? Good friend of mine owns 2 side by sides for the past 15 yrs. Stock market is leveling out and it will not be as exciting as last year, so he’s looking for a new way. What do you guys think or recommend would bring the safest ROI ? What’s the average you need to be a syndicator?