All Forum Posts by: Account Closed

Rashad Nelson John Kent Clay Smith Jeff Filali I just sat down with a real estate attorney and he stated what I'm doing is considered brokering and that I would need a broker's license. What I explained to him was this. I would assume the mortgage (subject to) with payments beginning 60 days after the assumption. This gives me 60 days to find a qualified tenant buyer how would lease option the home. The tenant buyer pays a non refundable option fee, which is how my company would get paid. The attorney stated that since I'm doing it for profit that it's considered brokerage. This is what I've read that this should be done legally. Should I get a second opinion? Thanks.

Thanks @Rashad Nelson @John Kent & @Clay Smith. 

2 Bedroom 1 Bath 996 Sq Ft.

ARV $30,000

Comparable

2518 Saint Cecilia. 3 Bedroom 1 Bath 950 Sq Ft.
http://www.zillow.com/homedetails/2518-Saint-Cecilia-St-Louisville-KY-40212/73641203_zpid/

***Note: The garage on this property can be converted to an additional bedroom to meet my comp and ARV.

This home comes with an extra bonus 2457sqft lot. Home sits on 2300 Sq Ft. For the builders out there, you have room to build another 2 Bed / 1 Bath. The home has been vacant for 45 days by the original owner. Average rent is $519 for our buy and hold investors. This home is located in the Portland Section of Louisville.

View Additional Pictures Here.
https://www.dropbox.com/sh/xvzcowahqmnx3ov/AACfWYRgecJPziFLapTk5BPKa?dl=0

Sitting here working on a Rent To Own company business plan but I can't find the answer to this question. Do you need to be a licensed realtor to operate a Rent To Own?

Michael Rohland I'm interested to see how it's going for you with RealtyTrac with the direct mailings. I just started myself and wanted to see if this is a good direction to go.

Stephen Anderson Would you mind sending me a copy also? Thanks!

Igor Kajpust Can you please assist me also with the AdWords? Thanks.

Michael Quarles Me too!

1600 W Breckinridge St Louisville, KY 40210

3 Bedroom 2 Baths 1968 Sq Ft

Asking $35,000 ARV $45,000 ROI 29%!

Property is Occupied and renting for $850/month. Section 8. 6 months left on lease. No immediate repairs needed.

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1556 W Breckinridge St Louisville, KY 40210

3 Bedroom 2 Bath 1270 Sq Ft

Asking $35,000 ARV $42,000 ROI 23%!

Property is Occupied and renting for $695/month. Section 8. 9 months left on lease. No immediate repairs needed. New paint and carpet 3 months ago.

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2307 Osage Ave, Louisville, KY 40210

4 Bedroom 1 Bath 1500 Sq Ft

Asking $25,000 ARV $45,000

Property is Vacant. $650/month. No immediate repairs needed.