All Forum Posts by: Patrick Boutin

Hey @Al Jacobs. The tax free part refers to the home sale exclusion which says that as long as you have lived in your home for 2 years out of the 5 years preceding the sale then you don't have to pay any taxes on the capital gains (see forbes article that explains this in more details.)

A bit late I guess.. lol didn't see the couple other dozen answers! haha.

Was just looking for a REIA meeting in my area and ended up in a Renatus sales pitch... smh I was so disappointed. I am sorry but the presentation of the material looks as if it was done by a 15 year old which is unacceptable for a company that charges up to 20k for information. Some people may see it as a minor detail but it is not. It says a lot about how serious and professional you are and doesn't surprise me that @Jamie Kennedy had such an experience.

I have red about half a dozen posts on Renatus and noticed how almost 100% of people who support is have very few comments so you can tell they aren't active users of BP. I have yet to find a user with a few 1000s or even 100s of posts supporting this "MLM company dressed as a Real Estate Investors Community"... I am sorry but if you are posting about Renatus here you don't need to look further for a Real Estate Investors community. There isn't much better than this.

@Angie Williams, the property is not in California but in Indiana so it is hard for me to find those local investors. I have looked at meetup.com for local REIAs but couldn't find any in that county (Hancock county) so it seems that I will have to look closer to Indianapolis..

How would one research and find what investment companies are in that area? Just Google? Or are there listings somewhere with that information?

As for those sold properties which may have the information of the buyer in order to see if they are investors or companies.. how do I get that information? I would think I would need to ask this from an agent. Or is that not correct?

And yes, I understand what you mean about the agent's commission, but I was thinking I would need their help knowing I wasn't in the area and couldn't really do as much foot work as I would wish.

@Percy N., how do I list the property on the MLS without an agent? This would be for the Indiana MLS and Indianapolis and Hancock counties to be more specific.

I will look into doing this on Zillow as you suggest and yes I had considered the BP marketplace as well.

How would you go about finding local property sales to LLCs? Wouldn't that be the information provided by an agent? My original question had this in mind, as I wanted to be able to know those properties purchased for cash (most likely by investors) so I would then look them up and see if I could reach out to them personally.

@Valerie Hiscoe, I am planning on going to a REIA meeting near the areas I have in mind and will be looking out for those RE agents as you say. I am also working on my finances so I know that the time will be in the spring of next year when I will be most comfortable starting to apply for pre-approvals. In the meanwhile drove throughs and open houses it will be.

What are "display suites"?

@Jeff Brower, that's a good point about the agent who doesn't get to do the sale. Thanks!

@Mike Cumbie, how would you recommend I located of find out what open houses will be taking place? The areas I am considering are about 1.5 to 2 hours away from where I live due to the high living costs here in the Bay Area and it would be nice to be able to plan these a little ahead of time (if that's even possible) just before the weekend.

Other than asking an agent for recent cash sales, how would one go about doing this? Basically wanting to find cash buyers in order to contact them directly.

I have a property I want to sell but given the possible low sale price of the property, I doubt any agent would be interested in being the listing agent.

I have heard many times in books and podcasts that before getting ready to start making offers, one should familiarize with the area, property values, by "looking at 100 properties, making offers on 10 and maybe getting 1 offer accepted".

In his "Book on Flipping Houses", J Scott also recommends this, in order to become familiar with properties that are being flipped, what they look like before and after, in order to know what a good deal looks like.

Going back to my question, if I found an agent in an area that I was interested in investing and wanted to do this, knowing fully I wasn't at the stage where I was ready to pull the trigger, how would one go about doing this with an agent's help and not piss them off?

Looking at that many properties takes time for the agent in order to locate the properties, meet me at each one in order to let me in and spend time at each one in order to discuss it... Wouldn't an agent be tired of the "tire kicking"? I know I would be was I in their shoes...

What would you recommend as a way to get this done and not piss an agent off?

I was thinking that maybe contacting more than one agent in order to divide the time spend with more than one agent in different properties... Would this be ok?

I also thought that doing this would be beneficial in a sense that it would allow me to talk to multiple agents and see and compare each one with one another and see what agent I liked working best with and felt most comfortable with.. Seems like a way to "kill to birds with one stone".

What do you guys think?

Thanks @Peter Tverdov that does give a good idea on what is typical.

@Thad McNair thanks! I sent u a personal message.

I have heard this being referenced several times but I am not sure what it really means. Any help in understanding this would be greatly appreciated!

Thanks @Ruth Bayang. I understand what you mean however I am not sure how much an attorney would charge to get this done. Given that this property is so cheap I fear it would eat up a very large % of the sale price. If this was a 50k or as cheap as 25k I probably wouldn't think the same.

Knowing you are on a different market, do you have any ballpark figure on what this service could cost?