All Forum Posts by: Elvin William

Hello, is there a form to fill out if I'm fixing my property once it's vacant and making it rent ready? Do the property management fill form up or do I? Where do I get the form at and what's the number or name of the form? My tax guy need it for filing my taxes next year. I'm fixing two properties this year. Thanks 

 The reason why it matters for me is this, if the seller paid 6% commission without a buyer knowing, the buyer will pay 3% commission on top of the 3% agent gets from sellers. That will be 6% total for commission. If I know if the seller paid 3% commission, I can save 3% on my side. So it will be a good idea to know what is the agent is making out of the deal. That's fair. If not, that's double dipping. 

Here is another question. What if my agent gets double dip. Get paid by me and by seller. Is there any way I can find out how much agent gets paid?

 Thanks for the update. I will keep that in mind. I mean, if I'm paying that much money, I'm hoping for deal on a house. I'm going to make you work for that commission.

Thanks for the feedback. There are few realtor I talked to say, we charge this amount and said, I wont get a discount on houses we look at. So the bottom line is from this realtor is, don't waste my time. Bid the house what ever the house price is at. Don't under bid. If you do that, your wasting my time. I was really surprised about that. The realtor wants 3% of house price.

Hello, I think aug 7th, everything is going to change for buying a home. We are paying for commission for agents instead for sellers paying that. Now the main question is what is a good price for agents? Do we have a minimum or a set rate for a agent? 3% is to much to pay for agents for a house over $500,000. $15,000 to pay a agent for $500,000. There is no fix rate like $5000 for a commission? I know you pay what you get. But now it's getting more expensive to buy a house now. Any feedback back is appreciated. 

So they are in the lowest tax bracket. Hire them to help them out. They will be W2. They won't have any tax strategy. 

Thanks for commenting. My in law will help with my business, question is with what. I need them to babysit my kids while I continue doing my rental property, like buying and looking at cost to rehab and other stuff. What does my in law have to do to like work wise to be my employee? I'm very new to this. I have LLC. I heard that, if I hire my in law, I will get tax benefits and they pay lower bracket. What paperwork should I file or filled up to start doing this?

Hello, I'm looking at hiring my in laws for my LLC rental property business. Question is, how can I take the step and how do I do that? Also, do I really get tax benefits for hiring my family member. Can I do write off on that income as business expenses? What's the pro and cons on doing this? Is this smart doing this? Thanks.