All Forum Posts by: Dennis Kelly

 thanks for this info!

Does anyone have a process they follow in regards to referring listings to agents? Not so much Property Management but leads for Wholesaling and Flipping. I’ve been getting leads that are in good shape and more geared towards end users that I want to refer to agents.

What’s a reasonable % or fee you would ask from their commission split? And what would be the best way to be paid out since kick backs are technically illegal?

I was thinking handing them the lead and if they close it then they'll send me a % of their commission split after the sale for “marketing efforts”. Do you think an actual contract needs to be put in place when handing them the deal or trust your relationship with the Realtor?

Let me know what you think or practice.

I have these holes and cracks around my foundation, the cracks are thin but let in water from the outside and the hole where the gas line enters the home also lets in air and water. I was thinking some 

type of silicone caulk for the cracks but what would be best for hole? A silicone caulk, some type of expandable spray foam, or mortar? Also, if I were to fill a hole where electrical wires run though would I need some type of fire proof caulk?

Market value for it is about $400,000.

So it’s either sell and lose $40,000 or rent and earn 1.5% on my investment.

Don’t think I could stomach to lose that so I may just hold on as rents will increase over time.

After I refinance I would be into it for $160,000. My mortgage would be $280,000 and it would cash flow about $200 per month.

I guess my concerns are just the bones of the house holding up long term but when I tore everything apart they seemed in good enough shape to keep in place even though they’re from the 50s.

I have this property built in the 1950s that I completely remodeled. Everything is new besides the foundation and framing. I'm concerned the ARV is lower than I planned for with the Coronavirus happening. I could potentially be over my ARV. My plan is to list the property and try and get my money back but if not I was wondering opinions on holding onto a home from the 50s as a long term investment. It is a 3 bedroom, 2 bathroom $400,000 home in Ronkonkoma, NY with taxes of $6,600 that will rent for about $2,600 per month. The home will be completed this month.

Gotch ya, so if I hire an agent nothing will go through my current brokers office correct? Everything will go through whoever I hire just as if I didn’t have a license and hired an agent.

Thank you for your response, if I currently have a real estate salespersons license under a brokerage can I use another agent to buy my property and do everything through them?

If I currently had a real estate salespersons license and was looking for a primary residence am I legally allowed to present a personal offer to the seller? So I don't need to go through my broker and I understand I would not collect a commission and I would be buying from a FSBO so instead of paying real estate commissions I could potentially add to my offer. Is this legally allowed? It sounds fishy like I am going behind my brokers back but can I pick and choose which deals I want to use my license for and what deals I want to bypass my license and just present a personal offer as if I wasn't an agent and didn't hire one?

Thanks,