All Forum Posts by: Nuhan Demirkan

Thank you for your input Matt,

In fact I listed the property last night and got a showing first thing this morning. We'll see how it goes.

Thanks Dev,

I'll take your advice and give it a shot.

I appreciate everyone's input.

Got it, I think you mean Hard Money Loan

Thanks,

Thanks Troy, I'm not sure what HML is!

I do know cash :)

Thanks for your reply Dev,

I have a deal with my broker. He does not take commission from my personal deals as long as I pay my monthly dues (which are very minimal). I actually just got off the phone with our local MLS office and found out that there is an option called "contract purchase" that I need to check off when I advertise. As long as that is checked, it is compliant with their rules. Now that I know it is available I would love to hear from someone who has done it and what the advertising strategy was.

Thanks for your feedback Troy, truth be told I already do the things you suggest on my other deals. But this one particular deal requires heavy rehab and I'm trying to increase my buyer pool. Since I will be the selling agent I would only have to pay the buy side commission which I'm OK with. Just wasn't sure if it was done and how it was done.

Hi guys,

I was wondering if anybody advertised their wholesale deals on the MLS. I have a license so I can post on the MLS. But wasn't sure about if it would be legal to advertise assignment deals on the MLS. How would the incoming contract be written? I know I would have to pay a sales commission to the buy side but I could cover that in the sell price. Any suggestion would help.

Thanks,

Hello Michael,

Welcome to the world of R/E investing. It is exciting and rewarding. I have a license and must tell you that it gives immense control over my deals. I can do my own research/analysis, negotiation and write my own contract. Make net offers eliminating sales commissions. But most importantly being a "Real Estate Professional" gives me tax benefits others do not have. I can deduct for expenses such as home office, car/mileage, cell phone, internet expense, dinners, etc. My total cost of having a license in my state is around $2,000 year and I easily get that back in tax breaks. You can find an investor friendly broker who won't require anything, won't split commission on your own deals as long as you are current with your expenses. And if friends or family need an agent you can help out and collect the commission. If done right, it is very beneficial. I highly recommend it.

Good luck,

@Christina R.

I bought a prefab house for rental. The appraisal came same as if it was stick built. So I haven't experienced any adverse valuation. They are doing some really cool stuff. It comes in fully loaded with master baths w/ jetted tubs, granite counter tops, etc. I have a building lot, I'm seriously thinking about putting a prefab on it and by pass all of the construction headaches.

Hello Rob,

Have you considered prefab homes? They are doing great work and the prices are pretty reasonable. I have a couple of building lots. Initially I thought I would partner with a builder but now I am leaning towards a prefab. Check them out on the web.