All Forum Posts by: Peter Haymond

You're right. Agents make more commissions working with investors who buy more properties then picky home buyers who can't make simple decisions. In my opinion the agent would have a win win situation if they would bring in end buyers (like you stated), which would really help me as an investor because I already have enough on my plate working a part time job and going to school full time. I'll probably just have to find a realtors minion to work for me because the commissions won't be a lot but will be frequent and occur monthly.

I remember working for a realtor out in Danville, California (Keller Williams) where he specialized in new property that was at a minimum of $500k or more so he would bank $15-$30k on closed deals every month depending on the property. But he wouldn't want to work on my deals most likely because he can get higher commissions elsewhere.

Thanks for your help.

I'm using no money down strategies to build cash reserves. I read that real estate agents are key to your business so I want to make a win win situation for someone who is willing to work with me.

When I include realtors in my strategy targeting assignment to buyers and instant equity exchange buyers, how do they make money out of the profit I build into the deal while not using my own money?

Thanks for your time. Please be specific in your answer. I have experience working for and with realtors before, I know they prefer retail buyers over investors besides the fact that lots of investors offers get rejected because we are in the business of making money by buying low and cash flowing, or selling for a profit.

Where's that?

I'm bird dogging for an investor who is focusing on probates and bulk REO's. Yes he has cash.

How do you find the loan loss mitigation officers to call?

Thanks so much for your time!

Great advice Steve. What strategy did you use to invest in real estate?

This is some advice I've received from a contact on bigger pockets from Florida. Another advised me that he used traditional subject to's, small bank loans, hard money lenders etc. Both own or have owned over 50 properties but their ages vary tremendously.

"Peter, when I started after turning my first home into a rental, I had a family member provide a 2nd on my next rental purchase. I did hold a job in the corporate world starting out. What I did to accelerate the wealth was buy mulitfamily rentals with 15 year amortizations. I only lived off my job and any income from rentals went to additional principal payments on the 15 year loans. As I bought and sold some, I used this forced savings as equity for new purchases.
Compounding is the key. Reinvesting the income. Buy strict deals. Small multifamily's when managed efficiently provide superior returns."

Hi I'm a senior in college right now. I plan on working full time after college while investing part time and expanding my parents business part time. Reevaluating my parents choices I learned that discipline, consistency, persistency and hard work is very important if you want to be a successful real estate investor.

One of the many blunders I see in the future is that most people work a job from 8 to 4 or 9 to 5 and then just take the rest of the day off and the weekend. I believe in order for me to become successful, I must be willing to dedicate at least 1-3 hours after work in order to reach the level of success I desire. This comes through overcoming the drudgery of work, having a different relationship with boredom, being disciplined, and putting in hard work. Do you think 1-3 hours after work is too much, too little, just right?

I would prefer advice from an employee who's made the transition to investor/small business owner but if you just started out investing full time or as a business owner/investor I'd love to hear what you have to say as well. Lastly, I just wanted to say that other things like target goals, deadlines, having good mentors, who you know in the business, and the like really helps.

Life rewards action. Thank you for your time and support.

Thanks Charles and Bryan!

For example: You have investors, real estate agents/brokers, title companies, property management companies, banks, hard money lenders, private money lenders, etc.

Who are the players in real estate? I'm looking to build a list on excel for a database I'm designing for businesses in the bay area. Thank you!

Oh interesting Will you live in Santa Clarita huh? I have an aunt who lives in Long Beach and the majority of my family lives in the Bay Area. Interesting...and thank you everyone for the great advice.

I guess Dan Kennedy's quote lit a fire under my butt when he said, "Hanging around poor people who place very little value on time-theirs, others', or passing time in general - your own productivity will diminish. That's why it's best to associate yourself with busy, productive, effective, successful people. And to eradicate the real time wasters from your life." What do you think?

Thanks Financexaminer. I completely agree with you that copying someone else's methods for success isn't a formula to become super successful yourself. I believe you must forge your own path so I'm starting a business after college with my parents and I'm going to start networking at REI conventions.

I didn't really know about the "games" you were talking about until you mentioned them. It sounds like you've been in this world before and understand how the big players play. I'm sure I'll have my experience there one day. Now it's time to get to work and have compounding interest benefit me!

Thanks again for your insight. You always have great answers here on the forums. Quick question though...did you ask a real estate investor out to dinner yourself? How did it go?