All Forum Posts by: Brandon G.

My wife will be going to get her real estate license so that we can get access to the MLS. I've read that there are several steps to make this happen including getting a sponsoring broker for licensing and joining NAR to get MLS access, etc.

Can someone please explain in simplified terms all the steps and costs associated with getting access to the MLS?

Thanks again for the info!

@Tom Keith , @Tyler H. , @Jon Holdman 

Thank you all for the helpful information. So as I understand, all the insurance in the rehab business is property specific. Is there a place for any other types of insurance that are more for "overhead"? For example errors and omissions comes to mind. Or is 100% of your insurance policies got for a specific property and cancelled once the property is sold?

@Tom Keith Thanks for your helpful reply. The liability insurance you mentioned.. is that like general liability insurance that most companies carry? Or is this insurance that is property specific?

What are your thoughts on umbrella policies?

I'm curious to know what all risks are involved in the process of buying, fixing and selling a house. The risks I can think of are theft, vandalism, damage during construction, injury to a worker. What other risks are involved? I have read that a builders risk policy is the way to go. Does this insurance cover all of the above mentioned risks?

My biggest concern is injury to one of my contractor's workers. Most residential contractors here in Dallas that I've had experience with do not carry workers compensation. Is this a risk to me or to the contractor?

Also, my wife and I will likely be occupying the homes of the first few flips. Would this effect what type of insurance is needed?

@Dmitriy Fomichenko Thanks for your reply. I sent you a PM.

Thanks!

Thanks for the info everyone. 

@Hattie Dizmond When you say you use the 70% rule to evaluate your deals, does this mean you are able to provide your buyers 70% of ARV or that you purchase it at 70% ARV and mark it up from there?

I'm researching the solo 401k. What I'm curious to know is do contributions made to this account bypass self-employment taxes and/or payroll taxes or do these taxes get paid regardless? Your input is appreciated!

For an investor in the Dallas market buying with cash, what is the going percentage of ARV right now when purchasing from a wholesaler? I've read about the 70% rule but does that apply right now in Dallas? If not, then what does? And I know there are many variables but I'm just trying to get a general expectation of what an investor should be looking for right now.