All Forum Posts by: Peggy Mitchell

@Vincent Garman

Hi Vincent! Can you shoot me the details also please?

Thanks

@Kevin Moen

I'll certainly keep you in mind. For now I'm happy with the note investing I'm doing on my own with my JV Partners. My experience so far is that Funds want you to commit to giving them your money long term and I'm just not there yet but thanks for sharing.

@ Cassandra

Good Luck! Either way you win. Everyone has their own strategy for investing (notes vs flips). I may try my hand at a flip someday, but for now, I'm happy just flipping the paper. Lol. 

@John Mathewson  Thanks John! 

@Ed Dennis Did you see my response to your inquiry?  I forgot to tag you, sorry. 

@Kevin Moen I mostly use my SDIRA to support other investors in my network, mostly fix and flippers. Who owns the fund you speak of?

@Kevin Moen are you referring to performing notes? An entrepreneur I am and will always be. Don't honestly see myself ever returning to Corporate America. 

@Robert S. @Cassandra Sifford

I found my solution, I'm not personally a rehabber but I have alot of experience in the buy and hold arena so I have taken to buying defaulted notes and flipping them instead to generate income. The process is much the same just flipping the note instead of the property. If the borrower wants out of the home and to avoid foreclosure and further damage to their credit, we provide alternatives that will allow them to do that and give us possession of the house. We can either add to it our rental portfolio, sell it on the retail market or if needed, sell it to a fix and flipper. We buy all the properties with our own funds and then distribute them to our investor partners who are looking for opportunities to use their funds and or self directed IRAs to generate double digit returns not otherwise available anywhere else so it's been a great win win strategy. Since my original post, I have already closed just under $1MM in real estate transactions and several Joint Ventures agreements. While you can never have enough JV business associates, this has been very successful and we are very excited about what 2017 has in store...

Peggy Sue 

Hello @William Nohmor

RentWell has recently taken a good bit of the rental management business here in New Castle County. I live in Newark but do all my own rental management (just mine).  They are also represented at our local DeREIA meetings.  Contact Nadia Sherif. They are located in Wilmington. I have spoken with her at length multiple times and she appears very knowlegable about the industry unlike Realtors. I am one, buy my experience in large part has been that most of them have no clue what they're doing.  I also use Bill Dolan for most of my settlements of Dolan Law.  BPs forum prevents the sharing of contact information so you'll have to look them up on the internet I guess.  Hope this helps. 

Peggy Sue 

Hi Ed

When you affiliate with the Broker, the Broker controls transaction splits and benefits.  Reduced commissions on personal property and investment properties are considered a benefit of the company you affiliate with.  I just had this conversation with my broker so for my investment homes, i only have to pay a the buyer broker commission and my brokers share of our split arrangement.  If it's my personal property, the company takes nothing from the sale however, I have to be witih the company for a minimum of one year before that benefit kicks into play.  The only thing you really get to negotiate is your commission split with the Broker.  Typically for new licensees, the split is 50/50. I was personally able to negotiate a better split because I do have 25 years in real estate as an investor, not like I was coming in green with no knowledge.  Of course they're not going to give up too much because they need to make money off your sales so most Broker offices have a Gross Commission Income chart that they use to determine increases in your split based on your sales transaction.  If you're not planning on engaging in transactions, you can place your license on referral with the Broker but I would not think you would still be entitled to the benefits.  Hope this helps.