All Forum Posts by: Dan Mackin

Starting with investors is a fine way to start. As with any clients you will want to vet them when you meet them to see if they are actually serious or just fresh out of a weekend crash course. BP is a great place to network and the best way to do that is to participate and learn. Investors are a special breed who need a special type of agent. Make it your overall goal to become that person and it can work out well. 

I am part of this generation and what I see from my peers is this. Lack of down payment, but usually plenty of income. A desire to own, but insecurity about the market. Lastly is relationship. At 27 the first of my single friends just made their first home purchase. 

What Bryan said. Honestly for most purposes something 8mp and up should suffice. Just an additional note.  Open the shades to let light in when you take the pictures!  It's amazing how much this is not done.

Did the seller give you the reasoning for pushing the date back so far?

It's possible to purchase the property prior to the auction. If the auction date is not very soon it can give you some time to work something out. Preforeclosures are not always under water either so there can be a good opportunity. Do your research on the county website to figure out when the auction is scheduled for to see how much time you possibly have. Then contact the seller in whatever means you determine to be the best for the situation. If the seller is under water on the home then you'll need to find out if they have talked to their bank at all about a short sale. If they aren't under water and are interested in selling then have them get all their current costs to pay the lender (This is more than just the mortgage at this point). Once they have those costs you can make an offer and purchase normally as long as you close before the auction date. Hope this gives a quick idea.

@Steve Vaughan - It's likely that I will be partnering up with him on this purchase and will be handling the property management side of things. His long term station will be Miramar which will begin in the next few months.

I have a close friend who grew up with me in Colorado. He is currently serving as a Marine officer in the flight program. He is looking at beginning his portfolio, but would like to start it here in Colorado. I am just looking for any creative input for what funding options could be worked out for him. He'll be here for about a month before transferring to San Diego and would like to begin the process then. I know there is the typical 20% down investment loans, but what other ways could we go about this with such a special situation of it not being the primary?

@Account Closed- I wasn't joking when I said it was substantially more than some :-)

@Andrew Johnson - Glad the post helped out. I felt the details would be useful to some folks out there so I'm happy that was the case. I'm excited to be signed on with Micki. She thinks a little differently about things and I'm ready for something outside the box.

@Kimberly Gillock - Thank you! There's definitely a little cost to it, but compared to investing it is low in my book. I will say that joining a board is a cost that can be cut out. If you sign on with a broker who isn't a Realtor then you shouldn't need to be one either. 

@Account Closed - From reading what you've posted throughout the forums the courses should go fairly well for you. The hardest part if you already understand real estate is to not get bored. Other than that they're not bad.

Also I just checked and my license is officially active now! Feels great to have it done.

@Daniel Zamora I would agree that starting with BP is a good point to start. If the broker is on here they have a good likelihood of at least having some understanding of what you're doing. To come off as a good client to them just be sure you know what you're looking for. No one likes to work with someone who gets distracted by everything new that comes along.  Good luck!