All Forum Posts by: Ken Quella

That was the goal yes.  Curious how that would work?  Does the title company simply report the sales price at closing of 481k basically? And the county is non the wiser?

Heres a copy of the contract for others to get a better idea what this might look like.  

Hello. 

Just curious if some of the more savvy investors in here have ever written a contract based on the above principal. The buyers were looking to keep taxes down by buying my sellers 11 Unit for 640k but only a percentage of the building would have been "real property" and the rest would be considered personal property. Also they wanted to buy their LLC as well.

Is this something a person can do on smaller investment properties as well?  

Thanks!

Ok with the said.  The bank did multiple mods without one of the borrowers consent so he may have a case here?  The father does have an upcoming appt. with an attorney but I'm just trying to wrap my head around a few things for the time being. 

Hello,

Have a unique situation here.  Lets say a father co-signed on a note 12 or so years ago with his daughter and son-in-law.  Since then the daughter/son-in-law have completed four loan modifications over the years due to hardships.  All of these were done without the signature or consent of the father(co-signer).  The house is now being foreclosed on and the father is listed as a defendant on the docket and has been served notice.  The father is NOT on the title for the home (this may be why the bank never asked for his signature on the modifications???).  I'm curious if the father is still liable for the note seeing as he never agreed to any change in the terms of the loan and all these mods were done without his knowledge or consent.  Personally I feel like the bank should be required to have the co-signer sign off on all mods but then again thats why i'm here double checking :(

Thanks everyone. 

Hello,  

Im an agent in Cleveland Ohio.  Im about half way done with my FL studies.  I know I can leave my lic. with the state in FL but I still would like to touch base with some brokers down there incase any deals start popping up.  I just want to go over some of the in/outs of being an out of state agent.  Looking for an investory freindly broker.  

Thanks

Ken

Thanks everyone.  Ironically that was the site i was likely to go with!  Looks like both are run by that McKissock Company which was also part of the site i used to study for my ohio license (licensetutorcom). and i passed with an 87% on my first try just this last friday, so i guess why change a good thing.  Signing up now!

@sean 

@Sean Cole Hey Sean.  Just got my sales license up in Cleveland.  Mind sharing with me your 10 second offer trick?  Haha!   Seriously though........... :)

Hello,

Taking my test for my OH license soon.  I want to add a Florida license to my name as well.  I travel there frequently and have many contacts/friends down there as well.  My OH broker has his and the continuing education/renewal fees are very reasonable, not to mention the fact that you dont need a sponsoring broker in Florida.  Long story short I can't find a reason not to have a second license.  My question is this... 

Has anyone on here gotten there license in FL recently and who did you use for the 63 hour mandated classroom hours online?  Id like to find the cheapest option possible since all that national stuff is very fresh in my mind and this test will likely be a breeze.  

Any other info would be wonderful.  Thanks everyone.

Ken

https://www.biggerpockets.com/renewsblog/wp-content/uploads/2016/02/The-Best-Real-Estate-Books-Ever.pdf

Hello Everyone,

Just curious if anyone had any idea on a typical commission split brokers in my area will charge me.  I'm looking to start off part-time as I do have another full-time job and am starting to progress into the rehab/flipping side of things as well.  I've been told that brokers such as Remax charge upwards of 4k a month for a desk fee and howard hanna takes 50%ish while other smaller brokers dont have many fees and take a 30/70 split on average.  So if anyone had any idea where to focus my efforts for a part time gig to get the ball rolling would be great and I would start taking my classes nights and weekends in march/april.  

Thanks

Ken