All Forum Posts by: Pavlos Kasselouris

License will only hold you to a higher standard if you are doing illegal activities...if everything you do is LEGAL you have nothing to be afraid of...

I got my license and the tools I use because of that are awesome. Full MLS access, plus free tools for CMA's, access to properties without relying to an agent, negotiating directly with the other side agent, plus you save money in commissions which will add up really quickly depending of the amount of transactions you will do each year.

I would start with the easiest form of leads, which is free, and thats the MLS. Find properties that general speaking fit your rule of thump, then analyse them in detail. After a while you will not even have to think about deals, since you will be able to recognise a good deal when you see it.

Later, depending on the way you will finance your deals you can get deals through wholesalers, agent pocket listings, direct marketing, driving for dollars, auctions, REO's, referrals, probate lawyers, local REI meetings etc...

I guess a simple 1099-misc form at the end of the year will suffice, along with any paper trail like receipts etc... 

As I approach the finish line for my new venture in rehabbing (you can read about it here ) one of the needs I realized besides other, is that I must have a person readily available for deliveries, pickup material, somebody that can do my scouting of properties, do a daily check on the progress and quality, make payments to people that do not use internet banking etc...

In other words, boots on the ground, since I live 4 hours away, and my partner is just too busy to do these things efficiently.

For that reason I found a person that can do all these tasks, after his current daily job, and even self perform some things. 

My question is how do I structure our relationship so he is not considered an employee. Obviously I dont do an adequate number of deals to support a full time position. We have agreed a fixed amount per deal, and anything extra he will get paid per hour. He is a plumber by trade, but has what I'm looking for as an individual. Trustworthy, ability to handle contractors, lives in the area I invest in, knows construction, has a truck, and wants to get in the game of REI. He can also take care punch list items effectively.

If you have any experience with this issue I would appreciate your input.

When we first came to the states we bought cash our house, since we didnt have no credit history. It was all our life's savings. For my first investment I had another 20K saved and did a JV with a friend that loan me my part of the deal. Now I have pulled out cash and reinvested more....

They will not be higher, they will be the same as everyone else that isn't homestead. 

I was looking around the forum for ideas, so after my research I found this website which I will probably get the frigidaire package. In the cart are additional savings and total I should save from the next best price whether it includes tax or not, around $200. 

https://www.ajmadison.com/

I use Smartmove from Transunion but I recently saw that rentecdirect, the software I use has this ability too. I might try it.

 Just because it has the lead paint disclosure it doesn't mean that it has lead paint. Its just a disclosure document that informs you of the possibility, required by the law. You will have to do an inspection during your due diligence period if you are interested in finding out.

 No Steven, that was a destroyed walk in shower. Either way everything has been gutted. Next we8Ill have some progress photos.

We have decided with my partner to add this property to our rental portfolio. We will cashout refi and go to the next one.