All Forum Posts by: Eve W.

Texas has a law that the licensed agent can only receive commission, referral fee from the broker. What about wholesaling consignment fee, does it need to be paid through my broker as well?

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Redfin would be a free and good choice.

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I keep all the receipts for the business expenses. Do I also need to keep the credit card statement or check copies in case of IRS audit?

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For those of you in TX as a licensed real estate agent, you are probably know as an agent, you are required to use promulgated contact in the RE transactions.

So what contract do you use when you get the seller agree to sell? Do you use earnest money section to give you time to find the buyer for the property?

What about closing? Do you do double closing, one with the seller and one with the buyer? Or one closing and you have the buyer cut you the check for the fee?

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I thought the house come with the gutter, apparently not.

Do I need to have it installed asap? It's a rental home, brand new house.

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I am new, not much experience in rehabbing, estimating the costs. I know understanding the rehab cost is very important for making the deal profit besides buying at the right price.

I am thinking of either partner with a general contractor for profit sharing or giving out incentives for finishing on time or earlier.

Have you done that? Does the incentives work well?

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I would like to do a survey of entrepreuers who work for themselves. Many ppl are afraid of losing their jobs, healthy insurance provided by the corpation for the family definitely weighs heavy. It would be interested to know the real world expenses and sacrifices (maybe not).

Please fill out the following information:

1. Monthly Premium and how many ppl are covered
2. Health insurance company
3. Copay and the deductible
4. Max. out of pocket
5. Feel free to contribute any useful information.

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Hi David,

Does your broker's charge include the access to the MLS?

Originally posted by David Jackson:

If you are looking for mentoring it is going to cost you a split. 70/30. 80/20 if you are lucky. You can go spend a year or two with a full service brokerage that prides themselves in the development of up and coming agents if you want to be trained. There are plenty of brokers that will take you on that pay 100% commissions and bonuses, but they will not provide any training. Why would they if they are only getting $75 per transaction. I pay my broker $130 a year and $75 per transaction. He is a great guy, but if you can't get through a transaction on your own he isn't going to put his arm around you and carry you to the finish line for $75.

If you really want to maximize your fee capture, I would suggest finding a broker that charges you a per transaction fee and a small fee each year and work a fee split on a few transactions until you get a feel for it. If you can't find a broker that will do both, you can stick with the per transaction broker and find an agent that will help you through a few deals for a split of your commissions.

Either way, you will have to hit the ground running if you don't sign up with a brokerage that provides training.

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Hi Paul,

When you talk about NW side of Houston, do you mean Cypress or inside Hwy 6?

Originally posted by Paul Zofsak:

We plan to buy and hold. I prefer the cashflow of multifamily, however in my area sfh are available at a rate of about 50 to 1 multifamily. We are looking at starting on the nw side of Houston, a very large subdivision style area with new neighbor hoods always under development and excellent schools. Considering buying a sfh here with a high desirability by tenants. Or a multifamily closer in to the city that will cost a little more but will generate mote cash. The sfh in our area are generally 10 years old or less, multifamily near the city can vary greatly in age. My agent is telling me that sfh is the way to go but I always prefer to get several opinions.

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Originally posted by Bill Gulley:

Thanks bill, I will do that.

Will the lease agreement between me and the LLC be the same format as one sign by the tenants?

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All Forum Posts by: Eve W.

Eve W. has started 31 posts and replied 48 times.

Post: Texas licensed agent receiving wholesaling consignment fee, does it have to be paid through the Broker?

Post: How to get good comps?

Post: Besides keeping the receipt, do I need to keep the credit card statements?

Post: Licensed real estate agent in Texas, do you use promulgated contract when close the deal with the seller?

Post: Is gutter a must for the newly built house?

Post: Experienced flippers, do you offer incentives to the contractors?

Post: Solo investors, how much do you pay for your health insurance premium every month?

Post: looking for broker sponsorship in Houston tx

Post: SFH vs Multifamily

Post: Do I need to present the management agreement to the tenants if I am the owner of the management company?