All Forum Posts by: Skip Gilliam

I just started a career as a real estate agent in January. I have about $450-$500k in 401k and a esop accounts from my previous company. I want to roll this over into a Self directed IRA so I can finally start investing in real estate. Please give me some pointers on where to begin? My goal is to buy a couple of rentals by the end of this year and hopefully work my way up to 10 within a couple of years. Any pointers would be greatly appreciated.

I just found out about a deal on a million dollar house in my neighborhood, owner wants/needs to sell ASAP, this is coming from a real estate agent that lives here down the street. The owner of the house asked him what it would take to sell his home in 30 days or less. Agent told him $1,100,000. The owner told him to make it $1,050,000 and try to sell it without listing it. According to the recent comps in the neighborhood, this house should sell for $1.3 - $1.4 mill now. House is only 5 years old.

I just asked a friend to partner with me to buy and put right back on the market at $1,395,000. It is in near perfect condition and doesn't need a single thing done to get it ready to sell. He has already had 2 offers this week from neighbors but contingent on the sale of their home...he said no, $1,050,000 is the deal take it or leave it.

How would you handle a deal like this with a close friend? 

Posted this topic a couple of weeks ago and haven't had any responses. Anyone?

I am just getting started in real estate and want to start off on the right track and not rely on the company supplied website and email for my business. I would like some feedback from those that have spent time and effort on branding themselves. Trying to tie in domain name, business name business logo is a confusing topic for a newbie like myself. Is it best to use your own name example skipgilliamrealestae.com or sgrealestate.com vs something like using a more local area specific name blufftonhomes.com? Or do both and link the two to same site and brand market together. This topic is confusing to me as I have read conflicting information on this topic on the web. If you have any insight on this topic, I would love to hear your about experience and results on marketing and branding.

Howard, No I am new to real estate, looking for my first home.

I forgot to mention a key point in their sales pitch, said they avg around 25 leads per agent each month, mainly from their web traffic and they do not charge for leads. They seem to have the best web presence in the local market.

Interviewed a smaller broker yesterday and here is how they structure their commissions. Cycle starts Jan first through Dec 31st each year. Broker has a listing and closing coordinator and also an associate to assist with marketing. Broker pays for all lock boxes and yard signs, agent pays if lost. 60/40 for first $110,000 of gross commissions Next $70,000 is 70/30 $180,000 and over is 80/20 Avg home in our area is probably $300-$350k How does this compensation plan sound?

Joel and Charlie In your experience how are your sites doing capturing leads? Are people contacting you as they visit your websites from a google search of local realtors, or is it still mainly referral business and then they look you up after? I am fortunate to be in a good financial position starting out and will be able to spend a little $ upfront, hoping that will give me a boost starting out.

Thanks for the replies Joel I assum

I am just getting into real estate and am working/planning my entry into the market here. How much time/effort/money are you putting in your websites if you have one at all? I spent some time today scrolling through many of the local agents info pages looking to see what they are doing. Many don't have a website at all, most just have a very basic website with no real content and just a handful are miles above the rest with high quality sites. I know some agents are still doing very well without a site but all of the agents with high quality sites seem to be killing it. As a newbie I would love to know what more experienced agents here are doing? Thanks you any info!