All Forum Posts by: Eddie Starr

@Chris Seveney Thanks for your reply. Please feel free to PM me, for discussion.

There's a lot of information out on the above, and I'm trying to cut through the noise, to find out what's legit.

Hi. I'm looking to get back into the game, and was reading some information regarding notes (BoEs and other Negotiable Instruments) and the UCC, was curious, and wanted to reach out to those how may be more experienced in the matters.

I'm a little familiar with notes tied to real estate, vehicles, and business notes, meaning those that are between a person and a bank (credit union, or similar).

I'm curious about (secondary) markets related to notes, and would like to chat with some people on some scenarios.

Thanks!

I wasn't sure where to post this, so please move it if that's needed.

Would you consider doing JVs with someone whose main thing they bring to the table are an assortment of PMLs, for +$1M deals? Would you want something else from them, and if so, what? Or would connecting you with the PMLs be sufficient?

If so, what percentage would you offer what would essentially be a "silent partner?"

IMO, at least for now, the best option is to use stablecoins.

There are a few different types. There are the asset backed (DAI, EOSDT) as examples, but while they generally keep their peg (flux of a few cents), there's also the issue with Terra-Luna, and how it lost it's peg. The "purely code" stables, I wouldn't suggest. I also would NOT suggest Tether. Why, because of the main stable coins, it is the only one on of the largest exchanges, Binance, will NOT do a 1:1.

So, you're best bets would be those like USDC, TUSD, GUSD, BUSD. The reason is because the companies that back these assets, and some others, have a 1:1 between their tokens and the USD (I'm unfamiliar if EURS, THKD, and stables of other fiat offer 1:1).

A possible scenario would be that you offer the seller to pay in a stable coin, like mentioned above. Depending on the seller, you may sweeten the deal, by letting them know that they don't immediately need to cash out, or can partly cash out. Then, with what they don't cash out, they can put into a centralized lending platform, and earn up to 8%. Make sure it's one that's also insured. I would only place it on DeFi if you're fully aware of the risks, or as a smaller fraction of the CeFi.

I was wondering if anyone uses a service to help in paying the various people they work with in investing (as applies), like contractors, home inspectors, wholesalers, appraisers, etc.

I was initially looking at a service like OnPay.com (and some similar services), but not sure if they are capable of handling the REI world, so I wanted to reach out to BP, and see what others use, to help streamline the process.

I like OnPay's "$36 + $4 per person Everything's included for one, low monthly fee" model.

As a summary from here:

You’re a consultant who performs the majority of your work online, with clients in multiple states. In this case, you do *=not*= need to file a foreign qualification. Just because you’re making money from clients in other states doesn’t mean you’re transacting business there, according to the law.

Does your LLC or corporation operate out of any physical presence in the state (i.e. office or retail store)?
Are you frequently conducting in-person meeting with clients in the state (and not just conducting business via email/phone)?
Does a significant portion of your company’s revenue come from the state?
Do any of your employees work in the state? Do you pay state payroll taxes?
Did you apply for a business license in the state?

So, here's a few different scenarios, along with that I can say "No" to each of the above:

1. Let's say I'm looking to do virtual or co-wholesaling, where I find the buyer. Based on the above, I wouldn't need to register as a foreign entity, right?

2. What about if my company sends in money, like for escrow/title, and I earn my fee at closing?

@John Warren

As I said, I'm taking some prep-work (via KW) to get my license. I thought I had made it clear that once I got my license, this was what I was looking at. So, am I correct in understanding that once I've my license, I can do the above?

Hi all! I've decided to go for my agent license, and have been plugging away at my study guide, the guide tests, and a few other resources online. I went through the ethics section the other day, and that got me to thinking about agent referrals. I understand how an agent can refer a buyer/seller to another agent (especially for a client moving to another state). I have two referral scenarios, that I was wondering if an agent can refer to another agent, and if so, can the agent receiving the referral offer  the agent who provided the referral compensation.

If a lender offers referral fees, can an agent refer to another agent the borrower? Then, when the lender gives a referral fee to the agent, if the agent receiving the fee can split it with the agent who referred the borrower?

Second scenario is almost the same as above. The difference is that instead of a lender and borrower, the scenario is a vendor that helps schools, churches, and other NPOs fundraise, and an organization: agent refers NPO to agent who is affiliated with vendor, vendor offers referral fee to agent, agent splits referral fee to agent that referred the nonprofit.

Is there anything--legally or ethically--that would prevent agents from doing these, or can it be done, without any issues?

Thanks!

@Kirbi Campbell I posted on a similar thread, here. I hope it helps

As some have mentioned, the only way I can see a lot of investors considering it is one of two ways. The first being stablecoins.

BUT, I don't see them wanting to use "over collateralize" tokens like DAI or EOSDT, simply because to most people, it won't seem much different from regular crypto.

The ones that people will most consider are USDC, BUSD, and GUSD. Why? Because the big companies associated with them--Coinbase -> USDC, Binance -> BUSD, and Gemini -> GUSD, each pledge a 1:1 exchange between their stablecoin and the USD. I've heard TUSD via Trust are 1:1, but my initial research has been inconclusive.

The other option is to use a 3rd party service, like CoinPayments. They allow you, in their options to receive payments, to autoconvert. This allows you to accept a wide array of crypto, and you can then choose to autoconvert to the stable coin of your choice. They do have an integration with Coin Base, to make USDC the easiest choice, but they do include BUSD, GUSD, and TUSD.

NOTE: Unless you are willing to use another exchange to transfer between USDT (Tether) and others, I would say not to use it. On their site, they won't convert to USD, unless you have several (hundred?) thousand dollars to convert. That means that your only option is to either convert to fiat via P2P (and hope to get a good price), or on a central or decentralized exchange, with similar issues. Better off with one of the above.

The advantages of accepting crypto--either stable, or via auto convert--is that you can receive your money in hours, instead of days/weeks, without worrying about "bankers hours." Want money on the weekend, or holidays? It can be done.

Another thing is the fees. Generally, when you look at fees charged by credit card companies, debit cards, prepays, etc, the fees on crypto (stables) are generally considered lower. Note that I'm not sure how much the Ethereum (where many of the stable coins are based) gas prices (cost of doing the transaction) play. But for that issue, many of the stablecoins have equivlants on Binance Smart Chain, and Polygon.

Lastly, depending on where you look, you can earn an average of 8% APY on your stablecoins (some more, some less). The highest I've ever heard to earn on USD, via some credit unions, is 5%.

It will take some learning, and for a lot of people, it's not something they'll want to deal with. You would have to sit down with each of them, and present a lot of what I just laid out, to begin. But, if you can, I see a lot of possibilities.