All Forum Posts by: Jon Deavers

There are also registered agent services you can find on a Google search that can be an affordable option too (just plug in "registered agent services Maryland" and you'll find a ton) . A registered agent is someone who, among other tasks, primarily makes themselves available to receive documents on your behalf for business conducted remotely. It's typically required for your business entity that is located away from your area of occupation to have a registered agent in case certified (read: legal) documents need to be served and you are not accessible.

Hello @Mark Yu 

Welcome to the site and happy New Year!

If you ever want to visit Richmond, give me a shout and I'd be happy to give you a tour of the city and point out all the different neighborhoods. We're seeing consistent economic growth throughout the metro area and that's helping to bolster owner-occupied prices as well as a strong rental market. Just saw in the paper today that unemployment in the metro area has fallen again and is at its lowest level in over six years (13th lowest jobless rate among the 49 largest metros in the US). Very exciting time to check out the River City!

Hi @Thomas Rohde  Welcome to the site!

Hey Frank,

If you have pre-approval on your loan, I would call your lender and ask them what the limits are for seller concessions. Most likely (not sure what NY laws/customs are), any credits will need to be conceded as going towards closing costs. You may also be able to ask the seller to complete repairs noted by the FHA appraiser and then no money would necessarily change hands in your deal, but you would not have to pay all of that 5k in repairs. If your agent and the listing agent can come to terms on behalf of you and the seller in this fashion it could still be possible. But again, I would start with your lender to understand the limitations on what is allowed for your particular loan product before asking the seller for further negotiations/concessions.

Hope this helps. Best of luck!

Hi @Tony Lane 

Welcome to the site from Richmond! Tons of great knowledge and people here so best of luck with your goals for 2015. Feel free to reach out any time!

Hey Claudio,

Welcome to the site and congrats on your early success! Feel free to reach out and chat sometime. Richmond's a great area to be in right now.

Actually, let me back up. Is there anything on the buyer brokerage agreement in the section on compensation? That's really where the answer to your question is. If you didn't agree to pay commissions when you signed the buyer brokerage agreement then I don't think you need to (should is a different question). If there is a percentage or a dollar amount on your signed buyer brokerage agreement, then that is the amount the agent is due.

Regardless, for your next wholesale deal I would stick with doing it on your own. 

Good luck!

Hey Ken,

I hope all's well! 

Unless you have negotiated with the seller to pay some commission, it's totally reasonable for an agent to expect to be paid for their services. I think the experienced wholesalers on the board would probably argue against using an agent to flip a wholesale deal. Are you actually going to close on the property and take possession or are you going to off load it before closing?

Hey Melvin,

Richmond Mortgage is a reputable hard money lender in the Richmond metro area. I would suggest reaching out to Mary there and running the deal past her and see what she can do for you. 

Good luck!

Hey Wes! Welcome to the site and congrats on the epiphany. :)

There's a ton of knowledgeable folks on BP in the Richmond area and beyond. Feel free to reach out if you want to grab coffee and talk shop sometime.