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All Forum Posts by: Mick Hofmann

Mick Hofmann has started 2 posts and replied 44 times.

Post: Need Mentor. Bad deal, exit strategy.

Mick HofmannPosted
  • Real Estate Agent
  • Scottsdale, AZ
  • Posts 46
  • Votes 22

@Gretchen E Harrison did you receive any warranties when you bought the place? Either from the seller or from a third party? Have you tried talking to the seller about the issues and resolving it that way? Might be faster than going to court, which you probably would with it being such a large cost. You can also file a complaint here https://roc.az.gov/complaints-... again I would suggest talking to the inspector and contractor first. You need to decide how much time and money you want to put into this. Sounds like a disaster, and I don't wish it upon anyone else. 

Post: How Will Joe Biden as US President Affect Real Estate

Mick HofmannPosted
  • Real Estate Agent
  • Scottsdale, AZ
  • Posts 46
  • Votes 22

I think it should also be noted that individual states will be affected based on the election results. For instance, here in Arizona we just passed Proposition 208 which will increase taxes for people earning more than $250k and $500k as married persons filing jointly. I heard of a guy who was in the process of moving his company here to AZ and was under contract on a $7 million dollar house. Prop 208 passed and he pulled out on both the house and moving his business. 

Post: Real estate agent investing

Mick HofmannPosted
  • Real Estate Agent
  • Scottsdale, AZ
  • Posts 46
  • Votes 22

@John Warren Thank you. That is helpful

Post: Real estate agent investing

Mick HofmannPosted
  • Real Estate Agent
  • Scottsdale, AZ
  • Posts 46
  • Votes 22

Anyone realtors out there ever use their commission as a downpayment for a house? So rather than you taking your commission, it goes straight to the lender towards your downpayment. I am a new agent and just heard of this strategy today. Just wondering if other people have done it. Thanks