All Forum Posts by: Nick Cikity

@Brad Bellstedt Thank you for a phenomenal response. I'm currently looking up these contracts thanks to your recommendation. I also feel the need to complete a few transactions on my own before even consider actually forming a team, however the fact that I now know I can form a team as soon as I'd like is great! I'm curious to see the actual ins and outs of who and what kind of referrals float around in this industry and what kind of business/ income in generates. I will certainly have to get used to the "on-call" lifestyle again, I've done it once before in a separate profession but it was nothing compared to what I expect from being an agent. Picking a brokerage is a HUGE part of my process right now, I'm not necessarily looking for the best splits but decent splits and great training sounds fantastic. And it's so funny you gave KW as an example, I was just looking for the cap rate of theirs here in Vegas and I couldn't find it. Thank you for sharing that with me.

Thank you again for the response, also we are friends on facebook and I would really enjoy speaking with you further about the industry, I see your posts often and you are absolutely getting after it here in town and I find it inspiring. I'm on messenger as well, if it'd be alright for me to reach out please message me, I would greatly appreciate the opportunity to get to know you better professionally. Thank you.

@Abel Curiel Thank you for that absolutely fantastic response. Truly every question I had posted was answered. You're absolutely right, I aim to build long-term wealth through real estate, using profits from sales to fund fix and flip projects and later buy and hold strategies for investments. I hear about these agents that close 1-2 deals per year and it baffles me, I guess sales just may not be in their nature. I look forward to chasing leads from anywhere I can and converting them to transactions. Of course I'd someday like to create a team so I'm glad I can form a team pretty much at my discretion with the brokers blessing. And I love the book recommendations, currently I'm halfway through Keller's book and I've listened to Gerber's on audio but will need to purchase it for my shelf. 

Thank you very much Abel, I truly appreciate your input.

So I've decided to seek my agents license in Las Vegas Nevada. I'm still in the early stages of my classes and I wanted to reach out to the forums with some questions. What are some pros and cons you've seen as a new agent? Anything I should focus primarily on in the beginning? And I'm wondering if just having my real estate sales license, can I have other agents working for me directly or on a team of mine? Or do I need a broker/ broker associate license for that? 

Thank you in advance for any insight.

Nick C.

I'd certainly recommend @dan mumm for Las Vegas @Dan Mumm @DanMumm .. sorry, not 100% sure how to @ people but that's his name ha.

Really? That's extremely convenient. I'm trying to get my ducks in a row to start off but I guess there's just some things I can only find out in the process. Very helpful. Thank you. 

Curious what kind of policies I should be looking into for house flipping with hold time less than a year and any possible companies in Las Vegas? From what I've seen some of the bigger name companies tend to stay away from insuring short term like that, is this correct? 

Outback meetings dissolved a few months back. They joined with some other group that's more "business focused" or something. I'm meeting up with the folks from desert rat real estate this weekend. It's Alex Felice and Spencer's group. I've met with Gary that goes there and it seems to be a legit group. They're meeting Sunday at 9am at the Panera bread on blue diamond by Silverton casino. It'll be my first time attending. 

Hey Dan, any chance you can message me this info as well. One of my goals today was to find attorneys in Vegas familiar with real estate. Only because I intend on creating an LLC and may need help structuring it.

Thank you, 

So my thinking was create LLC, obtain a hard money loan for the property through the LLC and then refinance to the lower interest conventional loan. Basically trying to get into a conventional loan with the owner being an LLC since banks don't loan to LLC's. I was hoping they would consider a refinance for an LLC.

Wow! I was definitely looking into BRRRR as a strategy but had didn't know this was common from hard money to conventional. I guess I'm curious about if refinancing to a conventional loan with the owner being an LLC is common? Since from what I've heard banks don't like or flat out won't loan to an LLC..?