William Collins
Full Time Employee/ multiple BRRRR side hustle 28.75% to goal
22 February 2018 | 53 replies
(ie rennovation budget, time to complete rehab, procuring tenants)Thanks and I wish you continued success!
David Zheng
Will Properties under my LLC show up on my Personal Name?
25 November 2016 | 2 replies
Depending on the type of financing you're procuring a lender may obtain a credit report and run a background check.
Mindy Jensen
FAQ Forum Question: Is Wholesaling Legal?
24 February 2017 | 85 replies
(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.As you can see from the above law that act of "wholesaling" would fall under 7 of the 9 legal definitions of acting as a Real Estate Broker.
Steve K
Maximizing Your Time
6 September 2012 | 19 replies
If they bring you an off market deal that they want to buy or something and were procuring cause, thats one thing and understandable.Just trying to get an opinion from 'the other side'.
Dana A.
Commercial RE vs Residential
16 January 2020 | 6 replies
If you don’t mind me asking, how do you go about procuring your buyers and do you specialize is any particular type of businesses?
Jim Bentley
Tenant wants to install tornado shelter
10 January 2014 | 9 replies
If Tenant shall fail to discharge the lien within such period of time, then, in addition to any other right or remedy of Landlord resulting from Tenant’s default, Landlord may, but shall not be obligated to, discharge the same by paying the amount claimed to be due, procuring the discharge of the lien by giving security, or taking such other act on as may be permitted by law.
Alex R.
Question about Turn-key Flip contracts
16 January 2013 | 49 replies
Personally, I overcame this issue by hiring a full-time project manager that does the non-technical parts of the GC job -- scheduling, budgeting, hiring/managing contractors, procuring materials, etc.
Sean Ellerker
Newbie from Huddersfield, England
8 June 2014 | 9 replies
As i was saying though i joined the community with an open mind and am ready to learn aswell as share any knowledge i have procured along my journey.It is a pleasure to be a part of such a large community of like minded people and look forward to making many connections and possible future business partners as well as friends along the way.RegardsSean Ellerker
Alberto Camacho
Etiquette when working with multiple RE agents
25 January 2015 | 4 replies
Or, I have a listing agent that I work with, but I will work with any agent as a dual agent (letting them know they get full commissions from their listings).Make sure you know laws of agency and matters of procuring cause of a sale and know how to conduct yourself working with a dual agent, their obligations and responsibilities.
Ian S.
Should I get a virtual mailbox for my non-LLC rentals?
23 August 2017 | 4 replies
. § 14-11-702, which reads as follws: (b) Without excluding other activities which may not constitute transacting business in this state, a foreign limited liability company shall not be considered to be transacting business in this state, for the purpose of qualification under this chapter, solely by reason of carrying on in this state any one or more of the following activities: (1) Maintaining or defending any action or administrative or arbitration proceeding or effecting the settlement thereof or the settlement of claims or disputes; (2) Holding meetings of its managers, members, or other owners or carrying on other activities concerning its internal affairs; (3) Maintaining bank accounts, share accounts in savings and loan associations, custodial or agency arrangements with a bank or trust company, or stock or bond brokerage accounts; (4) Maintaining offices or agencies for the transfer, exchange, and registration of membership or other ownership interests in it or appointing and maintaining trustees or depositaries with relation to such interests; (5) Effecting sales through independent contractors; (6) Soliciting or procuring orders, whether by mail or through employees or agents or otherwise, where such orders require acceptance outside this state before becoming binding contracts and where such contracts do not involve any local performance other than delivery and installation; (7) Making loans or creating or acquiring evidences of debt, mortgages, or liens on real or personal property or recording the same; (8) Securing or collecting debts or enforcing any rights in property securing the same; (9) Owning, without more, real or personal property; (10) Conducting an isolated transaction not in the course of a number of repeated transactions of a like nature; (11) Effecting transactions in interstate or foreign commerce; (12) Serving as trustee, executor, administrator, or guardian, or in like fiduciary capacity, where permitted so to serve by the laws of this state; or (13) Owning directly or indirectly an interest in or controlling directly or indirectly another person organized under the laws of or transacting business within this state.Good luck!