All Forum Posts by: Chuck Catchings

Nichole, I saw your post and tried it out. The couple addresses I looked up were pretty much right on the money, I was surprised. But need to look into it some more but so far so good.

Thanks Max & Rob, so your telling me that if say a wholesaler sells his property to a cash buyer that I introduced him too and no RE agent or broker was involved that it's illegal to get paid a fee of some sort? This makes no sense to me what so ever, it's a cash deal. Max why does someone need a license to be involved here? Cash deals are done everyday in every State without a RE agent being involved.
Now I do understand the issues when a RE agent is involved and this also varies from State to State. I just wanted to make sure we're on the same page here, thanks again for the feedback.

If a 3rd party introduces a buyer and seller or vis versa and no RE agent or broker is involved and the deal closes can the 3rd party request or be paid a referral fee no matter the state?
I already understand the issues covering deals with RE agents & brokers and referral or bird dog fees.

If a third party introduces a buyer or seller and a real estate professional is not involved can the 3rd party request a referral fee no matter the state?

Robert, I sent you a PM, lets hook up when you have some time, thanks.

Hey Robert I'm down in Lake City, Co. I read your last post as well. Seems to me your making this way more complicated than it needs to be. But I look at things from the hammer end and being in all phases of residential & multifamily construction for 30 years. You will no doubt get some great advise from BP and your REIA. But here's my 2 cents worth. Are you only looking to be local? There are some really hot areas for RE investing other than Denver. Problem is the deals are going away fast and are hard to find. Lots of pros & cons on long distant stuff but a lot of discussions about it here on BP. Anyway I would like to exchange ideas if your interested, PM me if you like or we can hook up and talk sometime. NO REIA here and I've built up a small network already. So maybe I can give you a different perspective. Thanks and have a great day.

Hi Jenny, I'm certainly not the numbers guy or have the experience that some have on this site but I am looking in different areas for buy & hold or buy to rent properties. I see that you would prefer the local area but also see some issues that you have brought up. Have you considered buying to rent with appreciation? Or condos that have HOA fees, takes care of the PM issue somewhat and if in good areas the renters can be better vetted. There are some pretty hot areas out of California that are much cheaper with better cash flow and very good appreciation rates, Austin, Tx being one. I'm also getting into the Las Vegas area and it seems to be hot there as well. But sometimes this comes from the RE agents and local chamber trying to sell the area. Also closer to where you live. I don't mind sharing what I have found with you but it would be better if we hooked up via PM to discuss.
I do know that this subject has been covered here on BP and the general overall thought is from what I can determine is it's hard to get the cash flow from high end properties due to cost. The mid to lower end properties tend to do better even though that's not what your looking to do and typically a lot more work. Anyway sounds like you know what your doing and if I can help just hit me up via a PM.

Chuck

Phillip here's the basic info. I have found an assumable loan from a home owner in E. Vegas just inside the Las Vegas Expressway. Totally remodeled in 2011, pool and what seems to be a good neighborhood. Total loan payoff is $72K, owes $63K and wants $9K to assume loan. Mortgage payment is $427 per month. 3BR-1bath, 1680sq/ft.
I don't know anything about Vegas except what I have read and it seems that the market is pretty good there of course depending on area. So in your opinion is this a good, fair or lousy deal?? The price per sq/ft comes out to $42.85 and the closest comps via Zillow or Tulia are in the $70(+/-)sq/ft range.
So any feedback would be appreciated. Can you assign a VA loan?? Thanks

Chuck

Phillip, do mind if we connect personally?

William I know VA loans are assumable but are they assignable? I can't find anything on this !!

Chuck