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All Forum Posts by: Stephanie Choi

Stephanie Choi has started 10 posts and replied 13 times.

Post: Site Condos vs SFH?

Stephanie ChoiPosted
  • Austin
  • Posts 14
  • Votes 1

Hi

We are buying a property that resembles a SFH but is zoned a site condo. I know that condos tend to appreciate slower but is that the case for site condos? I was told that site condos usually show up as SFH when listed but just want to make sure before we purchase

Post: Site Condos vs SFH?

Stephanie ChoiPosted
  • Austin
  • Posts 14
  • Votes 1

Hi

We are buying a property that resembles a SFH but is zoned a site condo. I know that condos tend to appreciate slower but is that the case for site condos? I was told that site condos usually show up as SFH when listed but just want to make sure before we purchase

I am currently looking at a property that does not have natural gas offered so everything would have to be electric. Should this be a deal breaker?

What are the pro and cons of using electric vs gas? 

@Maxwell Fontaine ah I see . Thank you for the feedback. What exactly would that insurance policy cover? 

Often times, there are properties I see in our market that have been listed for 60 + days at a relatively low price and am finding out it is because many of them have foundation issues. Would you guys consider this an opportunity or something that could be more of a hassle? Would love to connect with someone who focuses on these type of properties.

Post: Best state to file an LLC for investments?

Stephanie ChoiPosted
  • Austin
  • Posts 14
  • Votes 1

What is the best state to file an LLC for investments? I've heard different things (home state, Texas, Delaware, Nevada, Wyoming) online and from other peers but not sure if it differs specifically for RE investing.

I am based in Texas and will be investing in this area for now. Trying to see if it is best to look out of state or not. 


Any help would be appreciated! 

Thanks,

Stephanie

My boyfriend and I just closed on our condo and are now looking to purchase property purely as investments. Our plan is to utilize the BRRR strategy for our next couple of purchases. Would it be better to create an LLC or S Corp? From my understanding, you can also file an LLC under S Corp taxation but how is this different than just filing it as an S Corp?

Hi,

My boyfriend and I are moving to Austin. We are trying to find an experienced real estate agent who has experience in working with investors and knows the area well. Also looking for recommendations for different lenders

Post: What is a team vs brokerage?

Stephanie ChoiPosted
  • Austin
  • Posts 14
  • Votes 1

Hi,

I am a little confused what the difference between a team vs brokerage is. Can someone please explain and list some pros and cons of both?

Thank you!

HI Brian,

This is very useful thank you!

One question,  what do you mean by a competing broker?




Originally posted by @Brian D. Beatty:

Hello Stephanie,

Most important questions for me were:

1- Is the broker or manager, of your specific office, considered a competing broker? Or is any of their spouses/relatives active agents in the office? (If yes to either of these, you will highly unlikely get any leads, that come in).

2- On-board training, how long and is it free? 

3- Any cost to join, desk fees, other than business cards, name badge, etc.

4- Mentoring available? And at what cost?

5- Commission split? All are going to sound bad at first. Once you have gained experience and show your talent, it's all negotiable.

6-How many agents are in the office? How are office leads spread out? Does the company pay for general lead generation.

7-What costs are they willing to split? Copies, folders, postage, sign installation, signs. It all adds up. 

In my area you pay your Realtor board fees and MLS access yourself.

Do your own research from places like glass door and indeed, to see if they have good employee reviews. Also see what their customers say about them. 

Good luck, you are considered a self employed contractor by most. So they are usually happy to train you on their processes. Unless you team up with an existing agent or team, you are off on your own. If you thought pre-lisencing was fun, wait for your on-boarding training. There will be Company training, realtor organization training and MLS training. You are so busy going to classes for the first few months, you'll be ready for a vacation!

Hope this helps, if you want more information, let me know?

Thanks,

Brian Beatty