All Forum Posts by: Tony Santos

Hello BP, My name is Tony Santos and I am a wholesaler/flipper from Massachusetts. My partner and I currently started our business in October. We already have a wholesale deal and flip under our belts. We both just passed the real estate salesperson exam and my question is what are the pros and cons of working under a broker. A friendly disagreement occurred where we both should focus on growing our business and spend our limited time throughout the day on the business solely while one of our wives (also an agent) lists and sells the property for us while the commissions go right into our business account. Another thinks it's a good idea to work under a brokerage because of networking and finding deals through the MLS. BP is full of successful investors and I would love to get some opinions on here. A. We both have full time jobs so we should focus our limited time on our business. B. Working under a broker (as an independent contractor) is not that time consuming and the pros over-weight the cons. Thanks!

Hello BP, My name is Tony Santos and I am a wholesaler/flipper from Massachusetts. My partner and I currently started our business in October. We already have a wholesale deal and flip under our belts. We both just passed the real estate salesperson exam and my question is what are the pros and cons of working under a broker. A friendly disagreement occurred where we both should focus on growing our business and spend our limited time throughout the day on the business solely while one of our wives (also an agent) lists and sells the property for us while the commissions go right into our business account. Another thinks it's a good idea to work under a brokerage because of networking and finding deals through the MLS. BP is full of successful investors and I would love to get some opinions on here. A. We both have full time jobs so we should focus our limited time on our business. B. Working under a broker (as an independent contractor) is not that time consuming and the pros over-weight the cons. Thanks!

Kyle Cabral problem with #3 is if the property has 60k in rehab costs who's going to buy it? Going to be tough to throw that on the MLS and sell it for a decent price. You will be looking at selling it to an investor at a discount price like 120k. So in fact the homeowner will be getting 60k vs throwing out that 100k offer in his face. Major concern is getting the homeowner to sign a P&S and best way to do it is make the offer look reasonable to him. 1. > 3. :) * yes Kyle Cabral and I are partners working on this and yes we are openly talking about it via BP haha

Morning bigger pockets,

I have come across an interesting property where the homeowner is 27k behind in back taxes. Long story short- I landed him with my direct mail campaign, went to the house, figured the rehab costs are between 50-60k, ARV is 220-245k, and offered him 100k cash. The homeowner is on the fence with the offer and needs some time. My question to the bigger pockets community is- has anyone closed a deal with a customer who owes a ton of back taxes in a different way? A different way as in not your typical flip like I mentioned up above. I met with a former investor and he said the beauty with back taxes is your options are endless on how you can purchase the property. Back in 2012 another long story short he met someone with 18k in back taxes. He paid the taxes off for the customer, got his name on the deed, had an agreement the house needed to be sold within a year, and once the house was sold he would get 45%, sounds genius/sketchy to me. I am just curious if anyone has made an out of the box deal like that one where I could consider with my current customer who I am negoitting with. The more replys the better :)

Thanks!!!

Hello my name is Tony Santos. I am fairly new to bigger pockets as I am to real estate. My partner and I will be attending our first REI meeting this evening and I'm very excited! Not only can I not wait to listen to the advice and gain much needed information from senior investors but I'm also looking forward to listening to some success stories. If there is anyone out there who would like to share their story about their first flip or wholesale deal I would love to hear it! Please include details on how you got there, what was your toughest obstacle, what was your favorite part, were you satisfied with your profit, and how has your success been since your first flip or wholesale. Thanks so much! Tony Santos

My partner and I are planning to start our LLC within the next 2 weeks. Is starting an LLC as easy as it sounds or are there special loop holes most web-sites don't tell you? Any recommendations on a pretty dry cut web-site which shows you how about getting an LLC (specifically an partnership LLC). Also is a lawyer necessary?