All Forum Posts by: Chris Isaacson

@Jorge Zea You can hold off patronizing me over your 14 years experience, I have been licensed for under 2 years but I worked for my father and a license was not necessary for our business model. I do learn from mentor's more experienced than myself but 14 years does not guarantee you are an expert. Not suggesting this is the case with you but I am continually baffled by agents who have been in the business 20+ years but don't know jack.

As for blacklisting properties if you read above I said I know agents who don't show these, for reasons I already explained. I will leave it at that.

Furthermore, I don't hide properties from my buyers, it's not possible as they see them online. I provide them with everything I know. My role is not to be Zillow or Trulia so I am not worried about being skipped because they found the property online.

I think it is a little overzealous to be throwing out ethics violation comments but your the Board's ethics committee so I can see how that influences things.

If you'd like to talk about this further PM me so we can return the thread to the OP.

@Jorge Zea I'm assuming you couldn't show value to your sellers so you decided on the alternative route which is to be the cheapest guy.

On a side note flat fee listings don't appear like traditional listings as they normally say input only and talk directly to seller. A lot of agents I know don't show these and I found out why early on, it is because it is a pain in the rear to work directly with the seller. There is no one to mediate and explain the situation, they get overly emotional(attached) and it seems like they try to kill the deal. You essentially have to work both sides and get paid for one.

You have a vested interest in flat fee listings and I am biased towards my approach so I don't expect us to agree, I am just sharing my two cents.

@Leland S.  I have received that exact response several times, I normally just explain my position and why I offered what I did then move on. I have had some come back to me later asking to make a "win/win" or if I am willing to adjust my offer and when that happens I normally don't budge and things work themselves out.

In this market though someone will come right behind me and buy it for retail and these are distressed or odd houses that need work. Don't adjust your numbers to create something that you know is not there. There is a 4 letter word I use regularly, NEXT.

@Evan Salvador The market is crazy for SFRs as there is a huge buyer pool and inventory is tight. MFRs are not being overlooked though and there are few on the market. I can send you a list of what is currently out there but to find a decent value you may have to prospect off market. You can find MFRs in downtown Roseville, just recently there were a few that popped on the market and received multiple offers same day.

@Ashley Abramson What I think @Naomi Pinger was referring to in regards to fines/restrictions was that it is harder to claim ignorance as you are looked at as a professional or expert in the courts. Just do clean deals, disclose your status as an agent/investor and of course follow your local rules as I am not from WA.

@Corey Smith You probably will not have to put in any time at your brokerage answering phones or working "floor time" but there will be fees so make sure your level of investing makes sense to have a license.

@Account Closed I agree with your statements and I am not attacking you. I was just curious if you had experience prior to the crash because it is easy to say I am getting "x" return when you bought the properties at almost the lowest point and have held them through the upswing. There is nothing wrong with this, it is actually great for you. I am interested to see what your future purchases will bear as you will probably have to hold them significantly longer and get a smaller return in comparison.

@Account Closed I don't think purchasing properties in 08 when the market is bottoming out is a fair example, as this would be very hard to replicate because the crash facilitated your return. I am not saying CA does not reward well with appreciation but I don't believe we will see these quick returns in the near future. You said you have a proven track record does anything predate the crash? 

Hey @Amir B. are you referring to calculating cap rate? Here is a good article to review

https://www.biggerpockets.com/articles/924-understanding-value-in-multi-family-units

What I think @JD Martin is saying is what changes besides the title of real estate agent to wholesaler? You currently have to employ the same strategies by soliciting to gain buyers or sellers and with your statement of no funds it seems you are blowing through money or not doing so hot.

I hear people say when I finally can do "x" it will be different but you have to ask yourself what is stopping you from making money as a real estate agent and will that actually change when you go the wholesale route. 

Side note is wholesaling really "investing"? I mean what is the difference between assigning a contract and selling a listing both collect a monetary commission at the sale.

Inventory is extremely tight in my area. Last September things slowed down a bit and there weren't as many competitors but as soon as February hit, it has been crazy. As soon as there is any sign of a correction, investors re-enter the market.

As far as the rest of the local economy all restaurants are full, people are spending money, I went to the dealership and there were tons of people buying vehicles. Maybe it is a regional thing, the entire nation didn't enter the recession at the same time. July-Aug of 2005 it was like somebody shut the lights off here while a lot of other areas didn't crash until 07-08.