All Forum Posts by: Brian Rhodes

Thanks for the reply!

I'm from CA so I'm not familiar with the Georgia process yet. I'm looking to sign a non-exclusive buyer's broker agreement for GA (GAR form F113 to be precise). I wondering if typical multifamily broker commissions are 6% in GA and if so, does the seller typically pay the entire commission when split between buyer and seller brokers?  I don't want to be held to paying 3% to a buyers broker if the seller doesn't pay it all at closing or at least include it in my closing costs for underwriting purposes.

@Adam Harlan associations and forums. Laundries are a very niche business and require a lot of due diligence because they are all very different. Some owners work off the books because it’s all coins. Just buyer beware especially if it looks like an unusually good deal.

@Adam Harlan Try coin laundry

@Account Closed Thanks for the reply! It is possible that I would superintend rehabs but I'm an HVAC contractor not a B license, so no general contracting .  We will be doing some residential quick flips & rehabs, land contracts, and multi-family repositioning/quick flips. My goal is to put down the tools ;)

Even better. You can always do it if you upgrade the fridge.

See if you can find the valve box replacement on YouTube. People are posting video of every type of repair. See if it's something you want to try yourself and save the plumber cost.

Yeah, the state wants you to pull a permit for everything; replacing a toilet or painting a wall. The purpose of permits is to uphold safety and construction codes/standards. My opinion is that if you doing it right (to code) and not trying to cheat, you can use a handyman without permits. Sorry I missed the plumbing for the ice maker (still not a big deal for a good handyman, still no permit). Yelp reviews are actually one of the best ways to tell if someone is good or not (actual customer ratings and comments). I do agree with @Danery Amador in that you have to balance your construction experience (to supervise a handyman's work) and time available with the cost and convenience of a licensed contractor. In regard to the handyman being considered an employee, I doubt any handyman is clued in enough to sue for workers comp. The reality about the license and the permits is that if you don't have a construction dumpster in your front yard and a major rehab going on, you can fly under the radar with the city enforcement. Just make sure the work is done correctly and to code. Otherwise, bite the bullet and hire a contractor. There are just as many bad contractors as there are handymen, and yes, drug relapse does happen:)

@Account Closed thanks for the reply! It does sound good, that's why I'm on the extra due diligence.

I have been presented an opportunity to JV for 1 year with an experienced real estate investor with verifiable references and a proven track record. I have conducted my due diligence and found everything about this potential partner to be on the up and up. He was even willing to show me the HUD 1 from his most recent deal and his LLC bank statement for the month of October. I hesitate because this opportunity requires a $3,000.00 fee upfront to prevent tire kickers/time wasters. The fee is refundable after 60 days if we are not able to complete any deals. The JV partnership includes education, training, deal funding and 50/50 equity split on any deal I bring to the partnership. I see this as a leg up into purchase options and rentals as a less experienced investor. For the mentor it is an opportunity to scale his business in a geographic region that he doesn't currently live in. Any advice or feedback about this type of partnership from someone with this type of experience? Has anyone paid upfront for mentoring/training/equity partnership? Your comments are appreciated. Thanks!