All Forum Posts by: Gregory Walter

Charlotte is a great market for 1BRs because of the high amount of single professionals moving to the city.  You could always just add a shed and run the utilities to it.  Its not that hard.  You need laundry if you want to attract worthwhile rents and qualified tenants to justify a 125k purchase price.  Otherwise, speculation aside, there are better deals.  Are you working with a realtor on this one, and in general?

Find an experienced broker to affiliate with to learn the ropes.  Someone you can ask questions when you see conflicting information online.  Property management is not as easy as you may think it is right now.  Often times you can can't see the potential pitfalls until your in the thick of things.  I started managing my own properties and that gave me the opportunity for a couple mulligans before managing property for clients.  When will you be licensed?

"or just marking it up and presenting to the property owner to decide?"...This would be an violation of NCREC rules and regs., you can't not disclosure your fees.  If you recieve a referal fee or mark up a vendor's price, you have to disclosure to your client.  You could lose your real estate license if you don't. 

I noticed there is not listed broker with NCREC under the name Armanios.  Accepting compensation in exchange for the services required of a full service PM is a crime for both the person paying and the person paying you.  If your not already a real estate licensee, you should become one before undertaking this endevor, or limit the services you perform and how you market yourself.

Sounds like a plan.  Welcome to the community.  If your passionate about real estate, why don't you become a real estate agent as your part time job?  

Greg 

Gregory Walter
Greg Walter Realty
www.GregWalterRealty.com

Hi Jarret, 

I work primarily with investors.  I'm not your typical Realtor.  If your not currently working with another Realtor, feel free to reach out.  I'd be glad to tell you how I'm different than other brokers and what I can offer you over the competition.

Gregory Walter
Greg Walter Realty
www.GregWalterRealty.com

There are a lot of options outside of short sales and foreclosures.  I've found several really great deals for clients and some for myself on listed property.  You just have to know what you want and be willing to move quick on it.  A great Realtor helps.  If your not working with an agent and would like to, feel free to reach out.  

It depends on what your trying to do.  What are you trying to do?

If you are planning on holding any property that may appreciate inside the entity DO NOT incorporate. Form an LLC if necessary. Google why not to hold property in a corp.

If you are not holding assets, an s-corp may be appropriate but less flexible than a LLC. You have to form a corp, then elect s-corp status.

Go to your state's secretary of state website where there will be info how to form the business entity yourself.  If you have the patience to figure it out, that may be your best bet.

CPA's can't form a legal entity for you, legally, but they can answer questions general business questions for you.  EA is an easy title to acquire.  I'd look for a CPA, although the AICPA credential is not necessarily an indication of a higher quality CPA.

Good Luck!

- Gregory Walter, CPA