All Forum Posts by: Johnny Nuchols

Very true! Thanks everyone for the information. I will be signing up for the required courses to get my license.

I was noticing that. I think it would be great to get together. Enjoy your holidays!

Thanks for the info, I'm looking more into Redfin. It doesn't look like they have any positions for Charleston, South Carolina. I will be contacting them after the hoildays.

Hi guys,

So I'm wanting to get my Real Estate License in January. There is a school that I will be signing up with \ that offers the required 60 hours before I can take the state exam.

My question is....Is it common to have in-active agent under Brokers. Meaning an agent who is not actively trying to list homes or sell homes but just using the MLS for there own use to find investment properties?

I know as an new agent my license has to be register with a Broker but will the Broker allow me to be in his office if I'm not actively selling homes? I know there are some agency that charge a monthly fee to their agents instead of taking a commission cut. Are there brokers that will charge me a monthly fee to access the MLS as a registered agent. I'm not looking for office space just access to information after getting my licesnce.

My name is Johnny Nuchols. I have been reading forms for a little while from BP on and off and realized that I have not introduced myself. I just recently move back to the Charleston area from California with my wife, Nicole.

We are planning on buying an investment property this summer or later in the winter. We are not sure if we want to buy a rehab project and sell for a profit or keep and rent. Currently I've been listening to podcast from BP, reading books, set a budget to save money for our first project for the coming year and just found a nearby REIA which my first meeting will be beginning in January.

I look forward to getting involved in several discussions and to bounce ideas off you all.

When you are purchasing a property for a rental you should always request to see their previous tax forms. Landlords should be filing the Depreciation and Amortization on form 4562. When it comes to taxes people want to get the most of there money back at the end of the year and if there expenses are inflated or not accurate from what they are telling you this form will show, review part III on the form. As an example when a landlord replaces the roof it will depreciate at a different rate than the original rate at 27.5 years, this will have to be recorded on Form 4562. This should help you find any red flags on information the seller is providing.