All Forum Posts by: Douglas Mallett

Quote from @Jerryll Noorden:

Gang...  why are any of you surprised you find it "hard"? This is data. Numbers, logic, common sense. ALL this info I mentioned here is not new to you?! You KNOW this. You simply choose to ignore it and expect that somehow the laws of the universe, data, and experience, don't apply to you, and think that by doing the exact same thing everyone is doing, that is NOT working, somehow it will work for you...

love it - this is a masterclass in shattering self-deception. 

there is but one simple reason that 98% of posts in forums like this are complete ether - human greed and ignorance.

wait - that sounds like two reasons!

these very same reasons have fueled the 'get rich quick' engines for centuries, if not longer. 

this is one of the most reliable ways to make money - promising others an effortless path to riches.

how else could fraudulent schemes ever work, if not without the full cooperation of the victim - ahem, the freshly minted 'investor' or 'house hacker' or 'generational wealth builder'?

these are all valid goals, for sure, and i respect anyone who pursues these with intelligence, determination and pragmatism - and data, lots and lots of data! - but most folks are looking for something else entirely, something that simply does not exist. 

as soon as one puts all of these fantasies aside, as soon as one looks deep inside and makes the decision to actually engineer a decent framework up front - which includes a sharp self-education in correctly perceiving reality, along with all of the practical matters that Jerryll mentioned above - then the true path begins. 

imo, this is a genuine awakening - believing in one's self above all others, working diligently and intelligently, accessing all of the wisdom that is already inside of you. 

all the best!

!

Quote from @John Hernandez:

This is a clear instance of taking advantage of another. Again, so what? This is life and emotions and ethics aside, it is business.

i see this at times - the claim of 'it's just business' excusing abhorrent behavior.

the are no exemptions to doing right.

!

Quote from @John Hernandez:

 If both sides consider it a “deal” then fine, that is capitalism at its best.

this is the very definition of a marketplace.

now - if the 'willing' seller is misinformed, disordered or ignorant, and/or the 'able' buyer is misleading, fraudulent or abusive... then the definition is on a slippery slope.

these are matters for the conscience, and pure pointers of character.

!

some jurisdictions have a listing agreement provision that provides for the selling broker to get paid from the sale (by the sellers) if it was back-ended by the unrepresented buyer.

there is also sometimes a clause that provides broker fees for an owner sale conducted for a period of up to 6 months after the listing contract expiry...

also, there is quick way to tell if this type of purchase attempt is cool for you or not:

"Would I feel great if someone did this to me? Would I refer them to my grandmother?"

all the best!

any SFR (SFH) can be any type of rental - you can look at all houses, not just zillow rentals. 

there are only four ways to reach a homeowner:

cold call

door knock

mailer

wait for them to personally knock on your door and ask you to buy their house...

all the best!

look on fivver and upwork for graphic artists and a mailhouse... there are so many to choose from... 

Sun Tzu, on knowing yourself -

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

Do you know who you are, investor-wise?

Define yourself first, then take what you want from the market.

Or, let the market define you, and it will take what it wants from you.

If you know your strengths, weaknesses, preferences and risk profiles, etc, you can observe the market, learn and find a niche - or several - that you can master. 

If you don't know any of this about yourself, you can jump into the market and it will gladly show you!

All the best!

Quote from @Seth Hochberg:  

Are you able to send the wire back?

I wish the English language had a single succinct word for 'absolute comedy gold'...

Anyone?

Quote from @Elise Bickel Tauber:

For investors who are selling homes to wholesalers, how do you feel about selling for a flat fee and the wholesaler making a large amount of profit on your home? Were you aware that many wholesalers have something called a "spread" which is often large to make a profit?

This is hilarious!

Are we demonizing capitalism here?

Profit? Oh my - not that!

Margin disclosures? Of course, as we always know what our margins are before the deal even inks!

Telling the seller we are interested in ourselves, our own betterment and not theirs? Of course! "Hi! My name is Jackson, and I don't care for other people's bank balances, relatives or cats as much as I care for my own. Now - let's make a deal!"

Consider this... your boss may stop by tomorrow and say these words to you:

"Elise! So good to see you! Have you thought of becoming an independent contractor so I can use your labor without paying your health benefits or retirement contributions? It would be a lot less money, but it would... um... uh... it would be a really good thing, trust me! Just sign right here, thanks in advance..."

And so on... 

!

you may wish to consider another attorney.

if this one authored you into this, they can not author you out - they simply do not have the skills or basic competence.

all the best!