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All Forum Posts by: Alex Russo

Alex Russo has started 11 posts and replied 31 times.

Post: Is anyone in Northeast Ohio? Just wondering?

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17
Originally posted by @James Wise:

@Alex Russo 

welcome to the site

We are based in Cleveland (Parma to be exact)

One of my employees is from the Painesville / Willoughby area.

 Shooting you a email now!

Post: Is anyone in Northeast Ohio? Just wondering?

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17

If any one is in North East Ohio, I would love if you could message me. I would love to network. This isn't for selling a house on BP, just tryin' to network:)

Post: Is it wrong ? The Double edged sword question we all wonder...

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17
Originally posted by @Mary B.:

Have to agree with every prior comment on here so far. Its wrong, a waste of time and simply not cool to find a house that's already listed (no matter for low or high DOM)then approach the seller in hopes that you can get them to breach their contract, all so you can come around the side to close on that property. It's not going to be that cut and dry if the property is lis penden. I don't know what webinar or guru conference you've attended but that's a big negatory. The key to this game is finding off-market discounted properties with a super ROI / Cashflow. Why even bother with something already listed?

If you are going the route of pre-foreclosure or OREO{for example listed properties} then you already know the situation and should be trying to close on it, perhaps negotiating a lower price but certainly not trying to rid the agent from the process if they were there before the investor. I can't really see how that's beneficial to any investor if the agent was there in the picture beforehand. Time is way too valuable for that nonsense. That's my coin on the matter.

Kudos,
Mary

Thanks Mary, I had this question... and was just unsure. It def sounds morally and ethically wrong! With everything you said, it would only make sense IF you were in BEFORE the agent was ya know?

Post: Is it wrong ? The Double edged sword question we all wonder...

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17
Originally posted by @Jerry Puckett:
Originally posted by @Brett Synicky:

hi @Alex Russo 

if you care about your reputation at all, and you should big time, you won't even mess with this. 

 To take this a step further, in my market, this would be extremely short sighted. Word would get around, and no one would want to work with you anymore. Let's say you got the deal....would that one deal be worth the price of your reputation, upon which your future deals hang? 

You reap what you sow....

 Right, like what I mentioned above. is a 30k deal worth missing out on 10 deals in the next year, and possibly missing 50k or more even? etc. 

Post: Is it wrong ? The Double edged sword question we all wonder...

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17
Originally posted by @Brett Synicky:

hi @Alex Russo my biggest bone of contention is that depending on what kind of listing agreement the seller has signed you may be encouraging them to break that contract which could end up causing them to pay a commission when it sells regardless of who procures the buyer. You're free to advterise however you want "why pay realtor commissions when you can sell to me" but if you have any integrity at all you'll back off once they have a signed exclusive right to sell listing agreement with an agent.

Also if you care about your reputation at all, and you should big time, you won't even mess with this. 

 Right, right. If you do manage to even say- hey $30,000 out of it for some reason. With a ruined reputation, that may mean you're going to miss out on 10 deals for the entire year, which may $50k give or take of course. Right, my parter is a real estate attorney (also my father), and one thing we've all learned from being around him is -DON'T BREACH A CONTRACT FOR YOUR OWN SAKE! haha   Thanks for commenting man I really appreciate it!

Post: Is it wrong ? The Double edged sword question we all wonder...

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17
Originally posted by @Brett Russell:

@Alex Russo 

This is absolutely wrong.  You are encouraging someone to violate a contract they have with the agent.

Would it be okay for your end buyer to go up to that homeowner and tell them to cut you, the wholesaler, out of the equation to save some money?  

Of course not.  Same thing with cutting out the agent.

Just don't do it.

My $0.02

 Right, I sincerely appreciate you chiming in. I always like to hear from someone else good or bad. Hey the agents might want to cut us out! hahaha

Post: Is it wrong ? The Double edged sword question we all wonder...

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17

As a real estate investor we all know we want one thing, direct link to the goal of money. I don't like to chew on the fat or beat around the bush, so ...

Do you think it is wrong when; There is a house for sale listed with a agent/(broker etc..) and you go up knock on that individuals' door, and one way or another tell them ( and this can be in any number of ways, such as - Dont bother listing it with them/ Take it off the listing/ Save your 3-6% with me etc) and pretty much under cut the agent/broker and deal directly with the owner?

I would LOVE to hear everyone's opinions on this, We all know what were going to hear like

That's wrong-

Hey gotta get the deal the done

Deal is a Deal

I want to hear why you think it is wrong, does't have to be long or anything but can't put a number one reasoning

This question is in a few different sections, but no argument is without a other side- and please be mannerly, respectful and refined as we are all adults and professions working in the same realm. 

Post: Help with buying a absentee owner list??

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17

I'm going to go into my own research aside from this, well actually right after this gets posted! I saw a strategy that is to buy a AB list, yellow letter them, and get phone capture software. 

I can obviously handle the others, does anyone know anything about buying a ab list?

Post: Would you give your locations away? Or keep them discrete ?

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17
Originally posted by @Priscilla Z.:

@Alex Russo - In my area we work together instead of seeing each other as 'competition'. This has worked well for us, we have bought properties from wholesalers, and they have brought buyers for us.  We believe there's enough out there for all of us.

 That is a good idea, I mean, no one can buy ALL the real estate at once. It sounds like from what you say, it can be a better investment to let them know and build relationships than to keep it to your self. I really like both sides of the point though.

Post: Would you give your locations away? Or keep them discrete ?

Alex RussoPosted
  • Flipper/Rehabber
  • Tucson, AZ
  • Posts 36
  • Votes 17

I just got a call from another wholesaler,  he was wondering what zip codes I mainly deal with. I told him, to forward the questions to my email so I can respond when I have some time. 

Would you keep your areas you deal with to your self and not other competition ?

My first thought would be no, I don't want you to know where I am making my money and deals at. 

What is your opinion ?