All Forum Posts by: Bernard Chouinard

!@Jeffery Goode Am I allowed to do this as a non licensed agent? All I'm doing is finding the buyers not facilitating the transaction. 

@Jeffery Goode

With that said I do see plenty of referral fee agreements online but most are for % of listing agents commission rather than this colleague paying me 3% of the sale price. So can I actually have him sign a referral agreement? 

I have been offered a small percentage as a referral if a property is sold.  In an effort to make sure they do hold up the referral fee would you have them sign a referral agreement?  If so, where could I get one with out having to to to a lawyer to write one up? 

I have a friend that is selling their 16 Unit 16 BR (1BR Appalments) in St Petersburgh FL.

Total rental income $8770

1- $495. (sect. 8) one year lease

2- 550. (sect. 8) 0ne year lease

3- 450 month to month

4- 525 mtm

5- 500 mtm

6- 525 mtm

7- 525 mtm

8- 650 (sect. 8) one year lease. New tenant

9- 575 mtm

10- 550 (sect. 8 ) one year lease.

11- 550 mtm

12- 650 ( sect. 8) one year lease. New tenant

13- 550 mtm

14- 525 mtm

15- 625. ( sect. 8) one year lease. New tenant

16- 525 mtm

Laundry= ( 2 dryers + 2 washers No works )

Expenses: per year.

Insurance= $10,827. ( Hazard&Liability. No flood required )

Water= $10,000.

Electricity=$ 2,000.

tax= $11,032

Maintenance= $ 7,000.

Total $58859 /year net income /yr $46,381. Buildings will need a new roof and a little TLC. Once done rents can certainly be raised. I do have a referral fee in place so please let me know if you’re interested and I’ll connect you to the owners.

-Bernard 

Thank you @Account Closed  I'll check those out. 

@Jose Castillo She also runs the Black Diamond REI networking groups that get together in Worcester and Waltham. I would suggest going to them, you'll meet plenty of Hard Money lenders/investors there as well.

https://www.biggerpockets.com/renewsblog/2013/03/1...

I think Ann only invests Worcester and East if your properties are in the Greenfield area she might not work, but worth checking her out either way. 

I'm changing jobs and I have 15K in my 401K that I want to roll over to something that will give me the ability to tap into for future REI. What would be your best suggestion? Roll it over or take the tax/income hit and pull it out?

@Aaron Smart can you share messaging you decided to go with in your direct mail and how you approached it? 

@Paul Timmins I would love a copy.  Being close to the Worcester area with 10+ colleges there are a ton of student apts here.