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Results (10,000+)
Steven Olivas $100k Cash what to do?
26 November 2024 | 15 replies
I still haven't had the best of luck finding the right piece to the puzzle I'm building, so I thought if I let real estate agents, investors etc, that I do actually have we cash, and a normal job to fund these real estate investment's.
James Kerson Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents
10 December 2024 | 100 replies
If your market has a significant number of FHA or VA loans with zero to low down payments where a buyer can't afford to pay their agent out of pocket, your sellers may end up cutting off a significant portion of the home buying market, or once they do come around to considering negotiating on BAC, they may feel deceived, and now you may lose the potential for the recurring client that will ultimately otherwise drive your seller lead acquisition cost down.For planning: In a great business, a good rule of thumb is to estimate:100% Gross Income35% Cost of Sale30% Expenses35% Profit <-- very few businesses achieve this, but we're looking at an ideal solutionAssuming a national price average of $300k and 0.6% GCI, you'd be looking at:$1,800 Gross Income$630 Cost of Sale <-- agents/ transaction coordinators$540 Expenses <-- photos/ signs/ lockboxes/ Errors & Omissions insurance/ MLS fees/ liability insurance/ tech fees/ VA admin support/ marketing to get clients for the business (this piece should be roughly 10% of revenue, which would be $54 in this case)$630k ProfitIf your business sold 1,000 of these homes a year, you would have:$1,800,000 Gross Income$630k Cost of Sale <-- agents/ transaction coordinators (you could have 5 agents handling 200 sales each at $100k incomes and TC support at scale)$540k Expenses <-- photos/ signs/ lockboxes/ Errors & Omissions insurance/ MLS fees/ liability insurance/ tech fees/ VA admin support/ marketing to get clients for the business (you're going to est $125k in runner fees alone for signs; $25k+ in signs, $54k in ads to attract clients, $200k in photos, $10-20k minimum in E&O, $2k in liability, and what tech/ VA support)$630k Profit Scale costs will include hiring a managing broker for compliance to help oversee all of these transactions and implement legal changes and training.
Colt Price Land and how to make it pay for itself
25 November 2024 | 4 replies
It's been cut up, sold off and dispersed through the generations but our little piece is still where I like to call home.
Craig Daniels Use rental cash flow to pay down 6.375% mortgage?
19 November 2024 | 2 replies
If I were to put 2400 per year back towards the mortgage, the 6.375% equates to only (maybe) 150 per year that I am "making", but if you do that for a few years up front you can shave off years on the back end of the mortgage.  
Mitch Holmes Bag of cash but no W2
27 November 2024 | 10 replies
The one piece of advise I would give to you from going through the the hype of 2020, 2021, and 2022 till rates went up....
Orane Jacobs Midterm Rental arbitrage
27 November 2024 | 16 replies
Quote from @Miguel Del Mazo: Thank you for the discussion @Corby Goade .I feel like we are biting off big pieces of a complex topic, and I think it would be helpful to focus on either the interests of the property owner or the MTR operator to simplify things,I think your greater objection to MTR arbitrage lies with why a property owner would want to willlingly enter into the agreement, so I will focus my reply on that. 
Garrett Kula New Real Estate Investor in Chicagoland Ready to Learn
25 November 2024 | 6 replies
My biggest piece of advice is to connect with local chicago real estate investors in person...highly suggest checking out the christmas party on 12/12:  https://www.biggerpockets.com/forums/521/topics/1218823-chic...
Dongzi Wu Outstanding Real Estate Solutions Scam (ORES)
28 November 2024 | 184 replies
Some of your quotes from this thread will be used as supporting material in the production.As some of you may have guessed, a lot of information about her has been removed since her case came to light so it's sort of difficult to piece this story togetherIf anyone has any information they'd like to share that would help paint a clearer picture of her actions and the damage she's caused, please reach out to me.
Henrry Novas How to Grow New Construction Business
22 November 2024 | 1 reply
Or it might just be a fancy piece of equipment that never gets used that you could have rented the 3 times a year you need it.
Matt Huber 2021 RE Investments Underperforming... Should I sell?
24 November 2024 | 10 replies
You have the management piece figured out, revenue side looking up, and the area is good.