Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Renee Cato

Renee Cato has started 4 posts and replied 83 times.

Post: Closed on my 1st Wholesale Deal!!!

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

AWESOME!! πŸ‘πŸΎπŸ‘πŸΎπŸ‘πŸΎπŸ™ŒπŸΎ

Post: Wholesale Question - Can a Realtor Assign a Contract in Georgia?

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

@Eli Rose--  When wholesaling as an agent, you are acting as the principal in the transaction...and you state this in the special stips as well that all parties acknowledge Buyer is a licensed Realtor and is not representing the seller, etc. I would also include the GAR form where seller signs the customer acknowledgement form (as an extra level of CYA).

Assigning the contract shouldn't fall into the net listing category because the agreed price in the purchase agreement with the Seller should include your assignment fee. On the assignment agreement, your assignment fee is stated on there (which is the cost your buyer is paying you to "buy" your interest/contract from the seller) . So in essence, you're not changing anything originally agreed to in the P&S agreement with the Seller. I hope this helps.

Post: Wholesaler who have Real Estate License, do you pay your broker?

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

@Mike Nelson, definitely check your office's policies and procedures manual. For me, I pay a fee for ALL transactions. Further, my broker has to be informed in writing of any personal real estate transaction where I'm the principal. 

Post: As a new RE agent and new to the area should I join a team?

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

When I first became licensed, I self-educated using the Mike Ferry system. It was great!  I went to his events and met other agents that were from other areas and they willingly shared a ton of information with me (i.e. Listing presentations, pre-listing packets, etc.). I wasn't a threat because we were from differen states. One agent event took me to her office and showed me how to prospect. Woo-hoo. ☺️

I considered joining a team but the ones I met with wanted blood and my first born!  πŸ˜³ #ThanksButNoThanks

Post: Realtor tacking on 3% on top of wholesalers deal.

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

PREACH @Patrick Connell! πŸ‘πŸ‘πŸ‘ I AMEN. I couldn't have said it better! 

Post: Subject to deal in the works

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

I agree with the others @John Cannon...instead of walking away, RUN!!! It just sounds like all kinds of headaches waiting to happen.  πŸ€• There are too many other opportunities available out there. 

Post: New member from Atlanta, Georgia

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

@Dorothea Anderson, welcome to BP!  I admire and share your enthusiasm!  This is an excellent platform to learn and connect with like-minded people. 😎

Post: How to pass 1-4 unit investment properties to children

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

Ahhh....I see.  Yep, I'd consult a lawyer. 

Post: Passed Maryland Real Estate Exam

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

CONGRATS @Account Closed! πŸ‘πŸΎπŸ™ŒπŸΎ  Now the real learning, I mean fun begins! β˜ΊοΈπŸ˜‰

Post: How to pass 1-4 unit investment properties to children

Renee CatoPosted
  • Professional
  • Atlanta, GA
  • Posts 85
  • Votes 15

They should consult with a lawyer (my disclaimer. ☺️). A living trust, appointing a trustee should work.