All Forum Posts by: Alan Brymer

If I understand the question correctly, it was about contingencies if you do not follow through with buying a house you have under contract. I use Lou Brown's contract to purchase. With it, I usually do not make any contingencies except for if tere are major repairs needed that are not obvious at that time. Other than that, I don't use any, and rely on athis escape clause if ever needed, which is pretty rare. The contract has an entire paragraph on the subject but all I'd really need it to say is that:

Should Buyer default on this agreement, Seller shall keep Buyer's earnest money deposit as full compensation for damages. Buyer shall be free from any further liability.

If you did call an attorney, though, he could answer it in 2 minutes. What I like to do to get free legal advice is to hammer an attorney with questions whenever you see one at a closing. This is a good time for verbal Q&A, not for reviewing contracts.

Another good time is when you are looking for an attorney to begin with. Most will give you a free introductory session where you ask them about their experience in real estate law, and also take the time to ask questions that have been on your mind and make your decision based on how astute they are and hoq quickly and eaisly they answer your questions.

Best of luck!

Alan Brymer

For the most part, I would say to name it whatever you want, because people don't really care what your company is called and often don't even see the name until they are signing a contract anyway.

However, if you are trying to build any kind of brand awareness in your community by using your name prominently and want people to have heard of you before, or will use mass media like TV, radio, signs, and so on, I'd pick a name that gives your prospects good associations and feelings on a sunconscious level.

Why bother with a name that begins with A? There's no point, unless you plan on listing your business in the yellow pages, which I don't think many people do because all I've heard is people getting bad results from it. Doing that is more for plumbers or car repair places, or places where there are a ton of them listed, and that ad is their MAIN method of advertising. But if you want to advertise there, you can always do business as some other name that begins with A.

I used to be totally gung ho about taking foreveer to pay your mortgage off and investing the money elsewhere instead of merely paying off the loan and saving yourself whatever interest you're paying.

Then I read a course by John Cummuta called Transforming Debt into Wealth (and no, I'm not selling it) and it totally changed the way I look at the idea of paying off debt. His reasons to pay off all of your debts, one at a time, are:

1) Peace of mind and personal satisfaction
2) You can't be guaranteed what your other investments will yield
3) You can use a credit card for emergencies, rather than use your savings, which would make paying off the debts take longer
4) You could realistically pay your mortgage off in 7-10 years and have more money to invest.
5) Your other investments might not pay you when you need them to and you find yourself in a cash flow crunch and not able to make mortgage payments

My reasons for paying off all personal debts are:

1) If you can buy and sell an investment house and make $30,000--why not just pay your mortgage off? We creative investors are a group of people who can make ridiculous returns without using our own money. Paying off your mortgage may not make you as much money as investing them money elsewhere, but neither does buying a fancy car or a house that is too big, or taking vacations to Hawaii, and isn't that what the gurus tell us we should do with all the money we make in real estate anyway?

We investors are in a position to make a LOT of money over the course of our lives, so I think we might as well do it.

2) I hate mortgage companies with a passion and look forward to the day when I will never have one to deal with.

That's one man's opinion,

Alan Brymer

I Bought the rights to use his million-dollar postcards before. The postcard itself had good copy, but haven't used them in a while so I couldn't say how they perform since the market has changed.