All Forum Posts by: Brian Egr

All it says is you may not be able to deduct the interest.  It doesn't say they will call the loan, unless that's in another paragraph of the agreement.

You can change it anytime before a lease is signed, but don't assume because you have people calling about it any of them will actually be qualified to rent from you.

Congratulations, hard work pays off!

@Erik Emerson accept my connect request and I'll DM you.

Loan it to me for 7%, you guys can clear 5% no risk.

Just speaking for myself I base cap ex on what I know I'm going to have to do in the next 5 years...Roof, water heater, AC, etc...  that can be up to 15% depending on what the income is, how much a roof and water heater is going to cost etc....  If everything has already been replaced on the unit because the previous owners just recently did some upgrades then 5% is fine.  In the end it's just a plug number anyway, a place holder for a guess of future repair amounts.  Nobody can tell the future, if we could we'd all be in Vegas playing the slots, not buying houses.

You are in the ball park with the calculator,  3.5% seems really low for loan interest rate, especially at a 30 year Am..  The 6% for cap ex. is low, but if they just did a total rehab you should be fine.

There should be a standard tax levy rate for Lubbock Co. TX, the town of Lubbock might add some on top of that though.  Looks like right now it is assessed at 69,233.

Originally posted by @David White:

So question, this is Nebraska Definition of a Broker:

"(2) Broker means any person who, for any form of compensation or consideration or with the intent or expectation of receiving the same from another, negotiates or attempts to negotiate the listing, sale, purchase, exchange, rent, lease, or option for any real estate or improvements thereon, or assists in procuring prospects or holds himself or herself out as a referral agent for the purpose of securing prospects for the listing, sale, purchase, exchange, renting, leasing, or optioning of any real estate or collects rents or attempts to collect rents, gives a broker's price opinion or comparative market analysis, or holds himself or herself out as engaged in any of the foregoing. Broker also includes any person: (a) Employed, by or on behalf of the owner or owners of lots or other parcels of real estate, for any form of compensation or consideration to sell such real estate or any part thereof in lots or parcels or make other disposition thereof; (b) who auctions, offers, attempts, or agrees to auction real estate; or (c) who buys or offers to buy or sell or otherwise deals in options to buy real estate;"

Its worded in a way i dont quite understand, is it legal to wholesale in nebraska without an Agent license? or would i have to become a Real Estate Agent in order to do so?

From someone in Nebraska who has a license, Yes it is legal to wholesale in Nebraska.  Your fee comes from selling a contract, not real estate.

You can't be serious, nobody in this day and age has the patience or attention span to read any more than the first few comments before forming an opinion. LOL

I am an investor with a Realtor's license. If you signed a buyers agreement and it has not yet expired you will legally owe the buyer side commission to your realtor. My bigger concern would be what the hell js this guy doing transferring title to his daughter just to avoid paying a few thousand in commission. Then FB stalking you to try and cut a deal?