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28 May 2018 | 12 replies
Commissions are negotiated and can be more or less depending on your office policy.Or, again with your managing broker's permission, tell the seller you know several investors that might be interested and get a listing... maybe a limited listing instead of a contract to buy it yourself... maybe as a transaction broker so you're just helping the buyer and seller consummate the sale (not representing either party as a fiduciary) and charge a commission instead of a wholesale fee.Just spit-balling ideas for you, but check with your managing broker to structure something that does work for all of you.
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25 May 2018 | 4 replies
The only issue (I think) would be for their tax liabilities.
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24 May 2018 | 6 replies
It was broke down like this:xxxxx1: “O” Checking = Rent in, Bills/Expenses Out; xxxxx1: “A” Savings = Reserve funding in, CapEx out;xxxxx1: “S” Savings with limited withdrawals = Deposits Held;xxxxx1: “M” Mortgage loan accountxxxxx2: “O” Checking = Rent in, Bills/Expenses Out; xxxxx2: “A” Savings = Reserve funding in, CapEx out;xxxxx2: “S” Savings with limited withdrawals = Deposits Held;xxxxx2: “M” Mortgage loan accountAnd so onThis was fine up to a point, then it got way to convoluted keeping track of everything.
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27 May 2018 | 6 replies
Probably a liability thing. 2.
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27 May 2018 | 9 replies
It is a liability.
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26 May 2018 | 7 replies
Wonder if it limits the secondary buyer's ability to resell the loans though.
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30 May 2018 | 3 replies
In Japan, they have Karoshi:http://uk.businessinsider.com/what-is-karoshi-japa...There is a limit.
25 May 2018 | 2 replies
@Vanessa Deluca, they may be undecided on what entity they will take title - LLC, personal name, etc.They also may be doing a 1031 exchange which involved assigning the purchase rights to their QI.They may want the actual purchasing entity to remain anonymous for a while - think celebrities etc.They might be trying to simply get it under contract and then find a different end buyer.When the clause doesn't remove their liability to perform it eliminates most of the unscrupulous type wholesalers and is probably nothing nefarious..
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26 May 2018 | 6 replies
Got my first property under contract recently and am starting to connect the pieces.My insurance agent that I use for Home and Auto gave me the below information on insuring a single flip under an LLC:I will have a package policy for liability and a builders risk policy.
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25 May 2018 | 18 replies
But there is a limit to how much you can exclude from ordinary income.