All Forum Posts by: Walter Key

Thanks for the great feedback thus far everyone. Really appreciate it.

Hello BP friends. My wife is currently working on her Florida Real Estate license. She was a Realtor in Virginia before we recently relocated to the Jacksonville area. We're looking to find out which Brokerages are the most highly recommended.

So, if you wouldn't mind...

What brokerage do you recommend and WHY? I'd love to hear about the general working environment, the commission split structure and any office or desk fees. Does the brokerage require office hours? If so, how many days are mandated? Anything else that sets your particular favorite brokerage apart from the rest?

Thanks in advance!

Awesome!

I think most people have a few motivational quotes that they tend to refer back to for encouragement or inspiration. What's yours?

For me it's...

"He is Best; Who is Trained in the Severest School"

and

"Genius is 1% Inspiration and 99% Perspiration"

I have three whys. There names are Emma, Ethan and Evan. I intend to leave a legacy.

@Evan Bell In that case, I would recommend a HML. Establish the relationship early and make sure you know the terms (points, interest, what LTV they lend to, early repayment penalties, etc). My previous post stills stands, run your numbers, check them twice, include a fudge factor.

There are some HML out there that will lend 90% LTV on the ARV and 100% of the rehab cost. This should leave you with some reserve cushion after getting the deal funded.

Best of luck to you!

Joe makes good points. I'll play devil's advocate for you. Hard Money is going to cost you a portion of your profit that you could otherwise keep for yourself by using your own money. If you can use your own money AND have some cash reserves as a back-up, it's a win/win for you. Run your numbers, check them twice, and kick in an extra 10-15% of your estimated rehab cost for "fudge factor". Save your profits instead of paying a portion of them as interest and points to the hard money lender. 

You're not going to get the same valuation from a manufactured home that you are from an brick and timber home. Are there any other manufactured homes in your area that you could use from COMPS?

I'm a big fan of Belize real estate as well. Haven't bought any, but I'm certainly considering it in the future. 

@Chris Mason Laid this out pretty well. Just run the numbers based on how long you intend to OWN the property, not just how long you intend to live it in before renting.