All Forum Posts by: Derek Joyner

@Caroline Gerardo

I agree with Caroline here. This is the government. Don’t mess with them. They basically can do what they want and there is no negotiation with them. Look at the irs. They can just come take what they want of yours and powers gives them special privileges that others don’t get.

@Gary Guidi

That’s pretty sweet. One day I want to be like you when I grow up. One day I will be there.

It’s got to feel good to have a $7500 a month passive income coming in every month. Go ahead and do your pimp walk. We ain’t judging.

@Nicole Heasley

The numbers to fix a car usually almost 100% of the time outweigh a loan on a car. So repairing is a better option.

I think you should save up to fix it and until then maybe buy you a car just for dependability. You need a car with a nickname. Cars with nick names build character.

A car named smoky for the smoke 💨 it leaves.

Oily for the mark it leaves everywhere you park it.

Screamed for that belt or brakes that won’t shut up.

Seriously I’d buy something just to get by with but it’s not for show or comfort. I’ve found a lot of nice little Honda civics for 1 or 2k that will run forever and are decent. Then save for repair on nice vehicle.

@Jay Hinrichs

I think on the wholesale conversation I didn’t agree with you but I do think on this one you are spot on. So my question to you is how much debt ratio should you have in house?

How much equity should you have in your first rental house?

What % do you think a new investor should set back for vacancy, capX, cash flow?

@Ashley Gish

Throw that money to student loans. You do not need to be playing in real estate investing when you are in debt up to your eye balls. Look at Dave ramsey and research what he says about student loans and investing.

@Anthony Rosa

That’s just it. I don’t think many wholesalers tell anyone they are giving them top dollar for property. Most go in with its fast and quick with me and I may and may not be the buyer but here is what I can pay.That while pushy sales thing was the way to do it 30 years ago. Times are different now. Brokers, wholesalers and investors are a dime a dozen now. So if your abrasive with sales you’ll find people moving on to the next person.

I have my brokers license so I would also advise that I am a broker and I when I have them sign a contract I would also throw out that they have the right and should get an attorney to review any concerns with the contract they may have. I’ll go over it with them also but advise them to talk to an attorney and not take my word for it. 100% of time they say no go ahead, we trust you. I’m not going to do a deal pushing sellers. I’ll spend my time chasing the ones that are grateful. It’s all about disclosing. I’d rather be calling with bad news and saying hay remember when we talked about .... Instead of calling and saying are you sitting down, I hope we can work this out.

Disclose, disclose, disclose...

@Tom Gimer

It’s the new broker license Tom. It’s a buy one, get an attorney license free of charge. I’m going to get mine before they change the rule again. I’m going to screw some stuff up now with both. 😂

@James Wise

I feel your missing the concept though. Let’s define the 2.

A broker is a 3rd party who is brokering the transfer of a property between a buyer and a seller. The broker is neither the buyer or seller. So they are held to laws and fairness and can get into big trouble.

Now a wholesaler. They are the buyer not a 3rd party broker. This is like a for sale by owner that happens all the time. Which are not illegal anywhere as far as I know.

Now there are ways a wholesaler can get in trouble but it’s the same reasons as any buyer can from buying any home themselves. Wholesalers are not held to the standards as a 3rd party licensed broker.

The there is a wholesaler who holds a license. Now that opens a whole new can of worms that I won’t get into because we all can’t get over the simple broker and wholesaler differences here.

@Jay Hinrichs

I have to disagree with you. The guy was wanted in Philippines. There are real estate brokers who are wanted and run also. We don’t know the reason. It could have nothing to do with real estate. On a person having an alias name on a pod cast, again we don’t know the reason. Maybe he didn’t want the publicity. Who knows.

On bigger pockets not caring and it’s entertainment and they just need ears. If you listen to Brandon he says he wants to educate and help not entertain. Though they need ears they also want to help and guide in the right direction. Brandon talks about wholesaling in his books. So those are entertainment also? Message the owner of bigger pockets and Brandon and tell them this whole webpage and podcast is fake and just for entertainment and I think they would have a big difference of opinion with you.

@Matt Hatton

Hay it’s funny we’re talking about wholesaling. Bigger pockets business podcast just posted a podcast on a big wholesaler Max Maxwell. So if wholesaling is illegal bigger pockets is promoting us doing it.