All Forum Posts by: Clay Huber

Zachary Sexton I was not aware that a brokerage would even pay for your licensing classes and such. That seems like a cost effective way to go; however, what's the catch?

Meaning, are they going to expect you to always be working with buyers and sellers? If that is what you want apart of your business model to be, then great.

For someone like me though, whose only reasoning behind getting the license was for access to the data and the freedom it allows me to see properties whenever I feel like it, I would NOT want to "have to" be working with buyers and sellers. My goals/wants are not to spend an entire Saturday driving around a buyer who can't make up their mind. Again, if that is something you want to be apart of your model, then it'd be worth it.

If you don't have much experience, you should definitely at least see the property before making an offer on it.

While you can throw in the inspection contingency, if it is truly a good deal, then you probably won't get it since the seller will more than likely go with one of the other offers without the contingency.

It will vary state to state; however, I have a hard time imagining any state would be okay with you all of a sudden becoming a "broker" without any experience and/or history in the business.

So to answer your question, "yes", you just need your salesperson license. With that being sad though, you will also need to find a broker to "sponsor" you. This usually isn't very hard to find since the brokers will want to add you to their teams so they can make money off you from their fees.

This leads into another point. Check out multiple brokers and compare their fee/commission structure. You should be the one interviewing them, not the other way around.

Michigan (especially the Grand Rapids area) is a horrible place to invest. Stay away! There is no opportunity for investors. Again, to all investors, stay away!

There is no crystal ball here, but I'm personally using the unemployment rate as my leading indicator.

I do indeed have seller financing (land contracts) as the driver in my model; however, I personally own them before I sell them, so while seller financing may still work for you, it will, for lack of better words, become quite messy and convoluted.

Wow... glad to hear you will be taking Jon Holdman's advice and RUNNING away from this one.

Besides the whole fraud thing, it sounds like a boatload of work that would be much more of a hassle than what it's worth.

I agree. Seems there should be some sort of middle-ground out there. I'd definitely get another (if not another couple) bid(s).

The police would be a great place to start. After they are cleared out, replace all the locks and secure the outside (windows, etc)

I also have never heard a "land contract" referred to as an "agreement for sale".

I've heard "installment sale" and "contract for deed".

Maybe it is apart of your strategy, but why are you bunching land contracts and subject-to's in the same grouping? They are two different things.

In a land contract, a "sale" takes place.

In a subject-to, you are just "taking over" payments.