Henry M.
What Constitutes a Lowball Offer and Consequences
15 November 2024 | 8 replies
They aim to have the seller cover the buyer's agent commission as part of their strategy.
Luis Maza
Real wholesalers - or hype pricing - my numbers are not adding up - dilemma
15 November 2024 | 15 replies
Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs, commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?
Julio Gonzalez
11 ways to lower taxes when selling your property
17 November 2024 | 1 reply
Time the Sale Strategically: Selling the property in a year when your income is lower can place you in a lower capital gains tax bracket, reducing the tax rate on your gains.8.Deduct Selling Expenses: Costs associated with selling the property, such as real estate commissions, legal fees, and advertising expenses, can be deducted from your sales price, thereby reducing your taxable gain.9.
Steve Saussier
(CRE) Realtor buyer commission and exclusivity clause
6 November 2024 | 1 reply
Assuming you have a one year contract with your realtor:Apart from the usual buyer representation commission, do you have any exclusive clause with your realtor?
Luis Puente
Is really worth it to get my real estate license?
14 November 2024 | 9 replies
Direct access to MLS data, multiple solutions for sellers (off market cash deal or listing), ability to rep. yourself on your own deals (saving on commission), and of course, education & networking.Having a license costs $$$ though.
Account Closed
Tenants are escalating mold situation
19 November 2024 | 15 replies
Whether it's mold, COVID, or a non-paying renter, a quality PM acts quickly and decisively to protect people, property, and the landlord.If you feel the PM was negligent in their response, you can file a complaint with the state commission.
Scott Trench
Purchasing a small Office Building
22 November 2024 | 13 replies
Also, make sure you account for broker commissions if you choose to use one to lease your building.Best bit of advice I have, get in touch with a local commercial broker who specializes in that asset class if you haven't already.
Casi Rice
What qualities to look for in a good agent? Trying to learn as a new agent
17 November 2024 | 18 replies
i doubt you will be able to generate enough commissions from "investor" transactions, especially early on.
Harley Kendall
Should I get my license?
11 November 2024 | 8 replies
The biggest ways IMO are MLS data, multiple solutions for sellers (off market cash deal or listing), ability to rep. yourself on your own deals (saving on commission).Commission savings adds up fast when you're doing multiple deals a year.That being said, there is cost to having a license so if you're only doing a couple deals a year then it might not make as much sense.
Michael Fischer
First time mid term rental.
14 November 2024 | 6 replies
If it's only 1 unit, and you are just starting, Airbnb and Furnished Finder would be good.FF has a very small yearly fee and airbnb will take a commission, but it will also get you used to both.