All Forum Posts by: Kyle Doney

@Roger Covin Problem with cash under the table is that you cant write it off and its definitely not the right way.. I've asked around and even my attorney doesn't have a great solution. Still researching and searching for what others are doing. 

I am looking into how to pay a birddog for referrals on properties. For example, if you are non licensed and receive compensation for referring a property to a buyer, but do not wholesale it and receive compensation inside or outside of the closing as a party with no real interest or contract on the property, what type of agreement do you use? 

Technically by Colorado law where I work, you cannot broker a deal or receive compensation for facilitating a real estate transaction without be licensed (finders fee). So If I do not lock it up under my company but simply refer the property to a buyer and receive a fee, I am illegally brokering?

Has anyone else specifically in Colorado or other states looked into this?

@Brian Jackson Shoot me a PM or email me with any questions. 

Does anyone address trampolines or kiddy pools? 

Never heard of someone focusing on parking lots, but I would think your best bet is to drive for dollars and identify vacant lots. Then look up the owners and mail or cold call. 

Good biz. Some guys I've talked to can knock 2-3 out a day. Building the biz and buying rentals with the money you make sounds like a good plan. 

This depends on your relationship with him and how much trust is there. If a lot, then it comes down to the numbers. How much equity are you giving away? If a lot it may not be worth it, if a little it could be. 

Other question is who's paying for the rehab? If he covers the rehab and you cover purchase, then that could be a win win and a reason to give away some equity. Lots of variables to consider.. 

If you're talking rentals, SF would not be your best bet investment wise Find a better market to put your money in to cashflow. A lot of markets you could buy a nice multi. SF you get an apartment?

Good story. Focused massive action with a plan day in and day out will take most far. 

Take a look at Craigslist, Zillow, Hot Pads etc for your area and look for comparable homes. This will be your best bet in determining rent.