All Forum Posts by: Vincent D.

Rob, pls reference my previous post (Indpls IN)

Sue, I don't think there is any "formula" for this scenario relating to compensation. You might consider having the $$ dialogue with the referrer explicitly. Personally, I'd do it "off the books" - I'm sure there's some obscure law by which one or both of you could be held liable for fiduciary breach, SEC violation, etc.

More importantly, I'm dubious toward the reality of his claim.

If I had to be concrete in response, I'd cap the commish to $1000 per $50K loaned.

Rob,

Without having been explicity told, I have surmised the same. I have two S8 props remaining (mercifully low proportion of total). Both are more than adequate in condition and function, yet the inspector failed both houses by the tune of 3 full pages of items. egregiously unprecedented, and without question a "passive", indirect method of redlining to reduce overall obligation.

far as I'm concerned, this is a favor to everyone. allow me to rationalize for just a sec:

1. fewer deadbeat tenants with a free teat to suck on (or one less channel for free lunch, tho I'm sure they'll find it in the next-in-line fed handout)
2. one less temptation for owner/landlord to seek "easy" tenancy
3. less train-wreck midnight tenant evacuations
4. (ostensibly) less gov money (ie, ahem, taxpayer dollar, aka gov pork) being woefully allocated to undeserving recipients
5. less red tape headache
6. less gov dependency (something we could all stand to appreciate more, on a trend of necessity unprecedented)

That's a quick-6. I could think of more but it might turn into a rant.

Peace.

links shminks. cash is king, now more than ever. forget your "reputation as a buyer" and protect your ability to put food on the table next month. imho, only a fool would knowingly commit to unalloted thousands to protect the something as subjective and capricious as "rep".

Jessica, welcome. After working every conceivable RE angle over the years, I've taken queue from the current environment to buy cheaply, fix, and hold for rent income. The ROI is fantastic with low entry prices of today's market! You seem to have the right idea. Keep us informed!

Keep us posted on your progress. I'm interested to see how you take to wholesaling. Peace.

If the Chi-town mkt is appreciating, perhaps you are already too late for catching the stream of deals. Seek the simplicity of the country, the golden ticket of de-facto "debt forgiveness", and the occasional rental opportunity in your local KS market. There are deals everywhere. Peace.

Hi Scott. buying default paper can be rewarding, so don't write it off. I haven't done it for a while, now firmly (and contentedly) entrenched in SFR investment in my Indianapolis IN market. I stay away from anything that requires financing - these days are rigid and unforgiving in the capital markets, from all angles. Hope you find your niche!

FHA is backing questionable loans at a disturbing rate. This may have been easier to ignore before seeing our target inventory bid up by OO buyers, but it's "in-your-face" now and hard to brush off. Further, I distrust the verity of OO status from many of these applicants, wary that perhaps investors are "borrowing borrowers" to procure mortgage money on otherwise-untouchable leveraged purchases.

In any case, it's not a "pure" brand of competition driving up prices. The RE market is not rebounding (if so, what are the extant catalysts and drivers supporting this naive hope?), but prices are going up in our specific investment farm areas. Something askew is in play, and to our detriment as investor-buyers.

Dee,

Brian and I are saying virtually the same thing - with wholesaling, you can get your feet wet without financial exposure, while sure to gain experience if you're willing to throw yourself into the process.

Alternatively, you could inundate your otherwise-productive energies in endless, ponderous streams of RE education courses, adding empty tags to your signature and further burying your productive consciousness in an overwhelming assortment of rubrics. I would venture to say that MOST aspiring investors never actually invest, falling victim to permanent paralysis via "over-reading" and "under-doing".

There are some folks in this forum who would happily provide some starting tips for wholesaling - enough to find and entry and take initial action.