All Forum Posts by: Mark A.

Can a Realtor get in on the fun as well? ;-)

Here are some classic home buying phrases:

CHARMING - Tiny. Snow White might fit, but five of the dwarfs would have
to find their own place. See "Cute," "Enchanting," and "Good Starter Home."

MUCH POTENTIAL - Grim. Steer clear unless you have a lot of money and
believe your blind dates really did have nice personalities. See
"Ready to Rehab," and "Fixer Upper."

UNIQUE CITY HOME - Used to be a warehouse.

HI-TECH/CONTEMPORARY - Lots of steel shelving with little holes - the
kind your dad used to store tools on in the basement.

DARING DESIGN - Still a warehouse.

COMPLETELY UPDATED - Avocado dishwasher and harvest gold carpeting
or vice versa.

SOPHISTICATED - Black walls and no windows. See "Architect's Delight."

ONE-OF-A-KIND - Ugly as sin.

BRILLIANT CONCEPT - Do you really need a two-story live oak in your
30-foot sky dome? See "Makes Dramatic Statement."

UPPER BRACKET - If you have to ask . . .

YOU'LL LOVE IT - No, you won't.

MUST SEE TO BELIEVE - An absolutely accurate statement.

**********- Me?! Party animal? After two beers, I have a headache, I'm sleepy and need to take a nap. I think that sort of party animal is known as a pre-hibernating bear.

REI- I know the Santa Teresa area alright! I used to live near there until 2003. I am told listing inventory is up when just a year and a half ago it was hot, hot, hot. I haven't checked MLS specifically for that area. Let's see what the next couple months bring for the financial markets. It *might* get interesting in a good way.

fishanan- Nice to meet you. Thanks for the 'welcome' and allow me to boomerang it back to you. :)

All the best,

Mark

Greetings John,

I'd be interested in reading that article when you find the link. Without knowing the circumstances, my first thought is that this person was charging a "commission" to set up the trust and didn't have a broker or agent license. That would be practicing RE w/o a license.

The system is very gumby-like and able to mirror any form of seller financing w/o many of their pitfalls.

All the best,

Mark

I have to agree with you there. I could use a chilled pint about now. Mmmm.

Thanks, loki005!

I just KNEW there was a reason I liked this place. A sixer to every new member... true, excellent marketing genius at work!

All the best,

Mark

Hi Mike,

Thank you for replying to my post.

Great to hear MN is L/O friendly. L/Os have their place. As I read your post, I found myself wondering how to do you protect the lessee (tenant) from a less-than-horoable seller that might want to go behind his back and take out a HELOC or refinance?

True story: Years ago, a friend of mine in Utah was doing L/Os. A year and a half into the agreement, the lessee (tenant) decided she wanted out. And (!) she wanted her option money, all her rent credit and $$ for improvements (planting a couple outdoor plants which suddenly became expensive) since she wasn't buying the property.

Long story short, it goes to court and the judge rules in her favor. Seller was upset, sued and won damages. Needless to say, my friend decided there had to be a better way, and for him, it was/is the EHT.

Again, I'm not saying L/Os are bad. I am saying weigh your risk factors and proceed with what makes most sense for you.

All the best,

Mark

Thank you both for your warm and generous welcome. It's very refreshing.

Since we can't have a beer face to face, here's the next best thing (a couple virtual pints of Phat Tire beer: :beer: :beer:

My treat! :wink:

Depends... in some neighborhoods "Yes" and in others "No." :wink:

Thank you for the "welcome."

Cheers,

Mark

Whoops! I didn't realize you were a Realtor. I misunderstood. I thought you were purely an investor looking to buy REOs. In reality, you are looking to pick up listing inventory.

EDITED BY MODERATOR

Mark

Hi ScottFicek,

Nice to meet you.

Another avenue you might approach is seeking out local wholesalers and get to know one or two. Build the relationship, ask questions and you might be surprised at what develops.

Do you have a local REI club you can attend? If so, attend! Ask around about who is doing what you want to do. The people doing well are known and shouldn't be to hard to find.

Good luck!

Mark