All Forum Posts by: Dustin Verley

Irwin, I am no attorney and do not portray to be one, however, I found a certain part of the code that the attorney pointed out that I read myself, and in my opinion, it sounds to be a gray area. Here is the section, word for word: (a) No person shall engage in the practice of providing real estate services or hold himself or herself out to the public in this State as being qualified to practice the same; or use in connection with that person's name, or otherwise assume or use, any title or description conveying or tending to convey the impression that the person is qualified to practice real estate services, unless such person has been duly licensed under this chapter. Maybe it ultimately comes down to interpretation, BUT, in the assumption that you're clarifying you are NOT a licensed realtor, would this not rebut the guideline "No person shall engage in the practice of providing real estate services or hold himself or herself out to the public in this State as BEING QUALIFIED TO PRACTICE THE SAME" Maybe something to clarify with the attorney. Side note: I didn't read the entire code, however, so this may be worth looking into and speaking with your attorney again.

@Dmitriy Fomichenko Excellent advice! I will shoot an email to one of our HR representatives and see what their response is. I do know, for a fact, that they allow you to take a loan out against the PST, however, I'm not quite sure the stipulations of it aside from you can only take a percentage of the overall value, and, you have to be 100% vested.

Thanks again.

So I've asked this on numerous FB groups and have gotten little, to no, response. Hopefully I have a little better luck here.

My current employer offers an exceptional benefit through PST, or our profit-sharing trust, program. Using our PST, shares of our company are rewarded to the employees, which is pretty awesome as this is my first PST program I've been able to take a part in. I received my first share this past fiscal year, and although I'm not 100% vested (still got three more years) -- I have been doing some research and was curious if a PST program is transitional to a self-directed IRA, or is there any way I could leverage this to invest in real estate?

Hoping someone could shed some light on the potentiality of this idea.

Wholesaling, in my personal opinion, is an absolute great starting point. I would say listen to the podcasts on BP, check out the posts around here, attend your local REIA meetups and begin networking with other wholesalers or RE investors, get a mentor, and don't be afraid to spend a little money on marketing. Too many I know spend the money and then are in denial when they notice that they don't get the call returns they want, think they failed, and quit.

DON'T QUIT!

Every piece of mail you send out, every marketing campaign you run, find a standard measure to engage how successful you are with your marketing. Too many I know are mass mailing with no sense of tracking or measuring the potential from their campaigns.

You'll also learn how the REI business works via wholesaling. In all, ensure that you are using your time both valuably, and wisely, and you'll be as successful as many others.

Jennifer,

Great job, the home looks very nice! And the removal of the wall between the dining and kitchen definitely gave the home quite a bit more of an open space and more free flowing.

Congratulations again and good luck on your next project.

P.S. If I may, how much did the holding costs for property taxes for those couple months take up?

Out of the $43,000, I'm going to assume that wasn't all-profit? Considering you used a $35k business LOC to finance the down payment on the home. Just trying to better understand the end result.

Congratulations by the way, sounded like it was an awesome deal!!

Awesome job, definitely looks good and very refreshing in the context of a rehab. Congratulations also with the sale.

Look in the file place section of BP...there's quite a few available in there to choose from,

What would be yielded as "SJ" compared to Central and Northern NJ? James Masotti You invest primarily in Wilmington or surrounding areas as well?

Lots of good information on here. If I missed this in reading, I apologize, but am wondering why no partner for the DP?