All Forum Posts by: Bryce Davis

@Rudolph Wilson

As someone that just received lawyer advice on something just like this I would say RUN far away. I was going to buy a property that ended up having a 12 year old on the title. The only way to remove them would be to go to probate. I even considering payign for probate for them. Yet that is a HUGE mistake. The judge determines value in probate not the owners. 

If you buy something that does not have a clear title someone COULD come back in the next few years and claim that they never provided permission. 

@Allen Felker

Your comments on here make people not want to want associate themselves with you. I could not even imagine you in a deal. I respect your "Hustle" you call it. I called it good work ethic. You call everyone else good ole boys. As someone that is married to an African American I hope you are not pulling a race card. 

As far as your comments about credit etc.. You have no idea where anyone has come from. I personally started invested with a 545 credit score. I purchased properties that I knew the seller could finance. I paid them payments until I paid them off in 10 years. I also purchased a condo in an area that was not in the best area but I knew growth was coming. Because it was in a low income area I was able to get 98% financed with a bad credit score. I was able to turn a 160% profit in one year due to my research. 

Good luck in your pursuit. 

@Nathan Paisley

It not just agents it is people in general. I am retired in my 30's from real estate and do very well. I have offered my services to key friends and family that have acted interested in making their lives better. I even offered them to make a percentage of the profit on my deals, since they don't have the cash I offered sweat equity. NONE of them have ever taken up my offer on anything. Whether it be free books, training, classes, investing, everything. People are LAZY!! They work 9-5 and expect their lives to change by the 1-5% raises that they MAY get. They want to have nice things or be wealthy but wont do anything about it. Yet they will spend 400.00 to go to a sports game.

One of my favorite stories has to do with sports. 

A man and his wife get free box seats to go see their favorite sports event. They scream at the players and opposing fans. "We Scored, We Won"! Yet what don't realize that the winners of the game are the players are the field. The fans and spectators have absolutely nothing to do with the skills and talent it took to win. The winners are on the field PLAYING the game. The FANS just watch the talent. 

Also the real winner is the owner of the box seats. The person that worked 16 hr days for the chance to own that box seat. Yet probably hardly ever uses it. It more a marketing technique used by those that are successful. 

If you actually want to be an investor then buy your first home with equity and use that equity to buy an investment opportunity. You could always use primary mortgage loan and flip it after 2 years and not pay capital gains. If you do not know what loans to get then google it.

Wholesalers that initiate a deal and never own the property are garbage. A wholesaler that finds a deal buys it and then markets it is another story. Someone could easily buy a property that has equity then market it to investors. Heck you could even do some basic renovations so someone could get it financing. I have no respect for people that tie up properties for 5k - 10k. Anyone can do that and your are not helping the owner. 

i decided to pass. I made an offer with contingent on engineer verifying structural damage of no more than 15k. They wanted me to put 20k down and then make the contingent about 50k. 

FSBO go figure.

Told them no way in the world. Wished them luck and walked away. 

In the process of considering buying a house that is in the middle of a divorce. However, both parties have agreed to sale at a price that I can agree upon. 

The problem I may have is the condition of the property. 

The house was moved about 10 miles and put on piers. I know that when you move a house you should notify potential sellers. I hear that moving a house in common place in beach towns. However, when the moved the house the permits were pulled but due to a divorce the permits were never fully passed. I called the permit inspector, he mentioned all the permits would have to need to be pulled again. Until that time the property does not have an occupancy permit. 

Has anyone dealt with a house that did not have a occupancy permit?

Has anyone ever purchased a house that was moved then put on piers? How does a house move affect price. I was thinking I could get a engineer to certify the piers and move. 

I would be getting this house for 35% of low conservative comps. If it was a house that had not been moved I would not be a leery. I usually buy huge project houses so the amount of work in not an issue.

Would like to hear about your experiences or suggestions. 

@Account Closed

1031 Exchange already in search for new properties. 

Roy,

Are you planning on buying and hold or just getting them to sign a contract for a year while you look for a buyer. 

@Account Closed

Wanted to let everyone learn from my experience. I am now in contract for 525k for my parcel. 

I used zoning to my advantage. My lot was zoned R-8. They were trying to convince everyone to get a free rezone to High Density for free. I knew that if I stayed R-8 the parcels that the firm was buying would have 30 ft setbacks due to zoning requirements from my parcel. Therefore all of the other parcels surrounding me would be almost worthless. The firms project would have a huge setback. 

Therefore I hired a lawyer to write up a contract in which I received 20% for rezoning even if they do not buy the house. Then 10% extra on top of the 525k for every 30 day delay past the closing date. Parcel is being purchased as is where is. Every other parcel around me got half the price but because I researched zoning codes and used them efficiently I was paid a premium. 

Just a way to get the most out of your properties. 

 I am in the middle of a huge deal. I am making it a top priority to give 10% back to help those in need. I have always wanted to create my own non profit to assist where I see a huge need.

I have considered giving it to a church or a non profit. However, who knows where those funds would go.