All Forum Posts by: Joey Dwyer

I need advice. I'd like to hear from any brokers who hire agents that are investors.Or any agents that are only holding a license for personal investing.

I'll be taking my CA.state exam in a few weeks and I'll be looking for a broker to work for.I have a full time job and I only have time on weekends for office time or training.My plan is to get into wholesaling and using my license as a backup plan for sellers who want to list their house on the MLS.

1 What kind of commission split should I expect?

2 Would wholesaling be conflict of interest ?

Any advice from BP nation would be appreciated.  Thanks.

I would never try to discourage a young person not to jump in and just go for it.But having a 3 month window on a flip might just be a little unrealistic.Too many unknowns and things would just have to be perfect.Maybe in those 3 months you can study and get a Real Estate agents license $3500 would more than cover it. It will give you more knowledge about the business,more contacts in your area,and access to the MLS where you can find deals in the future.It would give you such a head start on your real estate career.Just a thought. Im sure thats not what you want to hear, but you'll get there! Good Luck

@Robert Taylor Good point. I didn't think about the "war zone" properties and the there is a higher turnover in those areas.I have a small portfolio and I only have sfrs in stable neighborhoods where my turnover is relatively low.So I guess I'm speaking for the small time guy.It sounds like you'e got your ducks in a row, and sounds like your system would make it easy for an investor looking for a one stop shop.

Way to go Kenneth! Go ahead and put me on your buyers list. I might be interested in the future. Good Luck

Almost all of my properties are out of state.I can tell you I don't mind paying the high side of monthly fees like say around 10%, as long as the leasing fees are low.I pay between $250 and $350.It shows you are confident in your tenant screening and management skills in order to keep a renter in place.I've heard some charge 1 months rent to find a tenant.That gives you no incentive to keep a tenant in place.

As for the repairs,I'm sure I speak for all property owners. We want the cheapest possible price, the best quality work in the fastest possible time.Very funny...right? But seriously, I would love to see the property manager do some of the work himself.That would most certainly keep the costs down.And that really is the bottom line to owners.Most out of state owners are really just worried about getting gouged for money and not being able to do anything about it. And the big jobs it really is about knowing the contractors in your market that you can trust. Just my 2 cents. Good luck Robert !!

Hey Spencer, I don't know anything on the law of wholesaling but I'm sure its legal. Look for Aaron Mazzrillo On BP.He's in Riverside and he does wholesale deals. He was on the podcast,and had some good stuff.

As for your area you can get a duplex in Gardena or Lawndale for a better price than Torrance.Not desirable school districts but still good neighborhoods.Rents are in the 1500 range so it won't cover your whole mortgage.If you are looking to live for free you might look for a 4 plex with a healthy down payment.

I own some rental properties but I have never really put a deal together.I just applied for my Cal. R.E. license examination, and I'm just waiting for my appointment to take the test. I kind of stumbled into a possible deal if I can put it together. I need to find a knock down property with a view in either Beverly Hills or the Hollywood Hills. At least 20,000 square feet.I have a a reputable luxury home builder who specializes in building homes on hills and a friend of a friend that might be willing to pay for the project if the return is good.Which I have been told is a (can't miss) but I really haven't done any homework on that yet. Is there a way I can make some spread in the middle or maybe just get them to give me the listing when its built.Any suggestions would be appreciated. Thanks a million!!

I pay 10% to three of our property managers. 5% to one because I bought 10 years ago.I have never heard of them keeping 1st months rent.I pay a $250 to $350 leasing fee.So that would be a dealbreaker for me. I'm just small time but thats my 2 cents. Good Luck.