All Forum Posts by: Dutch Langley

I like not being licensed....I can ask all kinds of questions and not get sued for doing so. My husband was a broker back in the day mostly for property management purposes. Costs involved for MLS, lock boxes, continuing education, etc, running to the property to show it, etc. I would rather have several great realtors to team up with and pay them their percentage.

Put me on the list as well!

I was the second person in my family line to graduate from college.  (My father was a high school drop out...got his GED and I went to his graduation at Penn State in Engineering when I was about 12). The one thing my parents always told me is at least no one could ever take it from me, and if I needed it, I had it.  There were a couple of jobs I had that required a degree.  For the most part, no one ever asked or probably cared.  I've been an entrepreneur since 1993.  So even though it hasn't been "necessary" there is a part of me that is still happy I got it.  Don't hold regret.  You are young....who knows where your path will lead you.  You may not ever "need" it, but no one can ever take it from you.

We are rolling over funds to a Solo 401K. That will be used for our passive RE activities. (Important info to understand). We have an LLC with just the two of us...no employees so we qualify to do have this type of account. Our other funds will be used for active activities in combo with either private lending/HML. Until BP I didn't know about the Solo 401K and the advantages of such an account.

We are a GC and looking to do flips as well. Maybe I'm missing something but it looks like it would be a lot easier just to do a HML, do the rehab and get all the profits yourself.

In a number of cases we determined it would be easier just to take the ceiling down, wire up all the lights, slap up some new drywall.  Many times patches are obvious.  But I'm also very picky.

And isn't absolutely amazing that you were smart enough to start figuring this stuff out at a young age!!!  Versus figuring it out decades later (like us!!  lol).  Rock on with your bad self!  Proud of you!

I think regardless of deadbeat or not, if the lease states that the security deposit should be returned upon conclusion of the lease unless certain conditions existed that it would need to be returned.

So they charge you 30K then make you buy a rehab immediately that they benefit from?  Seems like with all the information and advice you can get for free (like here...the amount of info is amazing...best site I have ever seen if you are willing to spend the time) you would be better served to use that 30k or less as a downpayment for a property (after educating yourself basically for free on this site, local meetups, one-on-one meetings, etc.)

Looks like fair pricing.  Pricing can vary from around $7 - 12K, depending on tear-off and removal cost, insulation layers, number of penetrations in the roof, height of building, dumpster/hauling, etc.  Sounds pricey when you aren't familiar...but most stuff does.