All Forum Posts by: Michael Giorgianni
Michael Giorgianni has started 5 posts and replied 39 times.
Post: Wholesaling a Commercial Deal - With Financing
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
I have a small 6-unit commercial deal and have a buyer that can get financing. Is this possible or am I going to have to structure this with a hard money lender and refinancing it later? Prefer option 1 if possible. Any ideas???
Post: Wholesaling Real Estate - HUD Homes & Active RE Agent Broker Issue
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Looking at activating my real estate license with a broker that will work with wholesaling and normal real estate. However, I have future plans to wholesale HUD homes and the broker I'm looking at hanging my license with is a dominant broker in listing HUD Homes. Very limited to the brokers that will work with me. Could there be any potential issues with this? Conflict of Interest, Ethical, Etc???
Post: E & O Insurance - Wholesaling Real Estate?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
@Eric Belgau @K. Marie Poe
Thank you for the valuable information.
Post: E & O Insurance - Wholesaling Real Estate?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Originally posted by @Account Closed:
Check with Lloyd of London, they will write a policy on anything.
My 2cents,
Joe Gore
@Joe Gore : I will look into them.
Post: E & O Insurance - Wholesaling Real Estate?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Originally posted by @Account Closed:
Agents typically buy E&O policies because they are providing services to clients who might sue them for damages because of mistakes made. I can't imagine there is an insurance company that is going to write a policy to cover a real estate investor for making mistakes. And I wouldn't expect an agent E&O policy to cover the agent in a wholesale deal.
@K. Marie Poe
I believe you are right again lol. I have called a few companies, all in which say they only have policies for agents/brokers., not for real estate investors.
When I had the other issue of a brokerage company wanting a percentage of my wholesaling profits(DISCUSSION: How are Fees Handled), would E & O insurance cover buying/selling then?
Post: E & O Insurance - Wholesaling Real Estate?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Ouch, sounds like a bad situation.
Post: E & O Insurance - Wholesaling Real Estate?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Has anybody here looked into having E & O Insurance when they are buying/selling (Wholesaling) Real Estate?
Post: Wholesaling Real Estate With License - How commissions/fees are handled?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Originally posted by @Account Closed:
Originally posted by @Michael Giorgianni:
Hope it helps!
That perspective made absolute sense to me. This will help me prepare more for my next brokerage I contact.
Post: Wholesaling Real Estate With License - How commissions/fees are handled?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
That was my "ah ha" moment for the year. I'll know how to handle my next broker appointment lol
Post: Wholesaling Real Estate With License - How commissions/fees are handled?
- Rental Property Investor
- Danville, VA
- Posts 44
- Votes 9
Marie: Your previous post is the issue I was trying to clear up. The initial broker stated that they would take me but want my fee/profit going through the brokerage as well as normal real estate activities. I don't understand how they can ask of that if I'm acting as principal.
Shawn: I agree, however, was not clear to let them know the exact number that I'm missing the boat on, it is very large. I will however contact the attorney I use to handle my transactions.