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31 August 2016 | 18 replies
When wholesaling, it would be important to disclose to the seller that you are a real estate agent, but in this particular case you are not acting as an agent, but as a principal, operating solely in your own best interest, with no agency duty owed the seller.if the seller, their attorney, the real estate commission, etc. is able, after the fact, to make the case that in your wholesaling activity you were not a principal, but an intermediary, then you would be potentially subject to fine, license suspension or revocation, liability for seller's lost income, and possibly treble damages for deceptive trade practices.
29 August 2016 | 5 replies
It's not difficult to purchase them simultaneously.
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11 September 2016 | 3 replies
We are on a fact finding mission to determine the best way to start a new company for short term rentals and trying to determine the best practices to do so.
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4 December 2016 | 47 replies
I'm guessing most people who do more than one or two flips simultaneously are doing hundreds of entries per month.On a typical project, I'll do 100-200 entries over a 2-4 month period, or about 50-100 transactions per month.
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29 August 2016 | 2 replies
If they are doing hourly or salaried work that is not "the practice of real estate", then you're fine.For anything that falls within "the practice of real estate" in your state, you most likely would have to pay their broker/brokerage - so they would need to have a sit down with their broker about how the fees would be allocated between the broker and the agent on the receiving end.In California, the practice of real estate is defined as:"a person who, for a compensation or in expectation of a compensation, regardless of the form or time of payment, does or negotiates to do one or more of the following acts for another or others: (a) Sells or offers to sell, buys or offers to buy, solicits prospective sellers or puchasers of, solicits or obtains listings of, or negotiates the purchase, sale or exchange of real property or a business opportunity.
29 August 2016 | 2 replies
That sort of practice can be justified in real estate development, but I highly doubt you'll find someone willing to do that sort of thing while lending you money to flip a house.
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30 August 2016 | 22 replies
I'm not a lawyer, nor am I an expert on laws/practices where you are, but I believe some places have pest-specific laws.
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31 August 2016 | 12 replies
However, that may not be practical given current goals.
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16 September 2016 | 12 replies
It won't get you anywhere fast and icebreaking with fellow investors is good practice for dealing with sellers and buyers.Hope to see you at REIAofOakland.com:)
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3 September 2016 | 5 replies
Nikki:It is a good practice.