All Forum Posts by: William Jones

Welcome AJ and Clarissa!

Yep, in South Carolina, 60 hour course, exam, temporary license (1 year), 30 hour course, permanent license.  There are many good books, the best one will be the one that comes with the course.  You won't need anything else to pass.

Probably not easily.  In the state of SC at least, you must disclose if you are licensed.

As a RE Agent, I can tell you, they are looking from the retail perspective.  They aren't bad people by and large, they simply don't understand the wholesaling business.  That's why you should check to make sure that any RE Agent you work with is also an investor.  I would interview them for the job, be discriminating, and absolutely never sign a buyer's agreement with them for more than the current buy.  Don't let them fool you, they have complete control over the duration and content of a buyer's agreement and a good one will tailor it to meet YOUR needs.

YMMV

Welcome to Bigger Pockets!  I'll message you separately.

To start my Solo 401K, I just googled "Solo 401K". There are a lot of companies and options available. Once I decided on a sponsor that basically allowed me to invest in what I wanted, I've never looked back. BTW, an additional advantage of the 401K versus the IRA is that the 401K allows you to take out loans to yourself. That's a feature I wanted to access so it was a big deciding factor for me. It allowed me to leverage debt I already had as well as capital for business startup and pay myself the interest versus someone else.

Using this as an investment instrument for your own real estate deals is a little more complex than you might think.  You may need a good advisor / CPA / Tax Attorney.

Lots of flexible approaches for this and it takes careful study and understanding of how you want to use it.

pretty easy way to add a name to the deed also QCD that is

Hi Stephen, Have your guy contact me for his area of interest (city / county)  I can either help myself or point him to a good person in the area.

I do Lien investing in Florida (18% return is why) and tax liens in Florida expire after 7 years.  It means that after 7 years, the lien simply expires, goes away.  To prevent this, one must call the lien, that is, force a tax sale of the property.  The tax is sold at auction and the investor is repaid.  This is different state to state.

I looked up South Carolina and here is the statement in the state revenue laws:

"South Carolina has issued a revenue ruling stating that a tax lien filed by the South Carolina Department of Revenue expires 10 years after it is filed with a clerk of court or register of deeds. Upon expiration, the tax lien is no longer enforceable in any manner and is no longer an encumbrance on any property of the affected taxpayer.(Revenue Ruling 15-6, South Carolina Department of Revenue, June 25, 2015)"

So it appears to be 10 years in SC.

Just don't forget, most expire in seven years.  Its a little known fact.  Return is great though.  Just know what you are buying.  Same due diligence as with most investments.