All Forum Posts by: Robert Leonard

E&O insurance is offered by the LREC at a group rate. Your broker may also have a group rate they offer through a provider they've negotiated a rate that is better than the coverage that is available through the commission? The basics of what you need to know about the coverage should be covered in your pre-licensing course.

Jason, I am an investor with a realtor’s license. Let me know if you don’t find what you’re looking for and I can share my experience.

Congratulations on the deal @Casey Rawlings! I look forward to hearing the rest of your success story!

If you are sticking with the window units for cooling, they make those that both heat and cool. Baseboard heaters are not common around here.

What's going on @Daryl Lewis? Welcome to BP. Sounds like you are right in my back yard now. What kind of investing are you doing or looking to do?

Cash. Do you have it? Every investor needs it or wants to keep their own and use someone else’s for deals. If you have cash, offer to fund his deal (100% of purchase and rehab) in exchange for shadowing him and learning. Be his assistant on a voluntary basis for the project, if that fits your schedule? You could get paid to learn, by acting as a private lender and allowing him not to tie up his own cash or credit? 

Your money would be secured by the property (and his experience). He owns the property and you get paid as a private lender. I wouldn’t try to get hard money rates. You are getting paid to learn and you want to make your funding attractive, in my opinion.

The way @Kyle J. answered is the most accurate answer. There are specific rules for how deposits are handled. If you had charged a holding fee and had documents to define its use, you could do as he described. 

The only thing I do different is the holding fee is not refundable under any circumstance. I agree to pay their deposit, if they execute the lease by paying the first month’s rent and moving in.

Interesting situation @Joshua Walker Look forward to hearing the details when you have them.

Hello Abel, what are you looking for down here?

You’re welcome!