All Forum Posts by: Gerald Stephens

I think a license is would be an asset to your investing.  There is a ton of data at your fingertips and you can let yourself into properties without inconveniencing anyone.   In the mean time, I don't mind answering any questions you may have. 2736 Bolch Street in Anderson Island shows some promise if a first time home buyer doesn't jump on it.  It looks turn key from the photos.

Hey Tiankhy,

Welcome. I still need to do a proper intro myself. I did a quick MLS check and this property comps out at about 102k, median price per sf in that neighborhood is 75per sf. It will be a good to watch go through the Sheriff sale procedure and see what ultimately happens to it. That 116k figure is what the banks attorney will be shooting for at the auction most likely.

Are you looking to buy and hold, flip or wholesale? 

I am wondering if you ever got a definitive answer on this?  Maybe I read it too fast, but it looked like you were having a second agent come in to be the buyer.  As long as all this is disclosed to the seller in advance.  By disclosed, I mean have her sign something to the effect.  As far as the deal itself.  If the contract is assignable, I don't see why any money has to flow through the broker.  If you have a contract for say 50k and find a new buyer willing to pay 60k.  Isn't the difference just profit and not a fee?  I'm just thinking out loud.  

I think the important thing is to cya with signed disclosures.  As long as the seller understands what you are aiming to do, you should be good.  I would hate for her to feel taken advantage of and file a complaint with the LREC.  Let me know how it works out.  Best of luck. 

I wasn't sure if I was allowed to post up a link to someone's business on here.  So I sent it to you via PM. 

@Jeff Lee Hey Jeff.  Just now seeing this.  Here's a link to the official downloadable contract Louisiana Buy/Sell Agreement. I'll throw a second vote in for United Title.  On a cash sale you'll mostly be concerned with the cost of specific inspections and the appraisal if you get one.  The taxes will be split accordingly by the Title company.  The Title insurance is usually provided by whoever the Title company is most friendly with. 

The Buyer and Seller can agree on the place of closing.  Typically the party paying closing costs picks where to close.  I highly recommend a thorough inspection as well. 

If you have any questions on the contract, feel free to contact me.  Good luck with your purchase. 

I mostly use my license for my own benefit investing. I was more active several years ago and got away from it for various reasons. I have recently decided to refocus my efforts on investing.  I definitely don't mind helping others with comps showings etc.  I remember being a new investor and feeling like I was always annoying the agent in question.  So yes, if I can answer questions or be of any help, even if there is no financial benefit to me.  I don't mind.  

Hey guys!  Just joined the forum the other day.  I kept seeing the forum being mentioned on another forum I frequent.  I added the podcast to my rotation and have been hooked ever since.  I am a Realtor here in the Shreveport/Bossier area and forwarded a link to the podcast to my Broker Jimmy Stewart.  Now, I think you can see where I am going with this.  Jim calls me back and says, your never gonna believe this.  He proceeds to tell me about y'all meeting up here once a month at BW.  Small world, I guess.

This is my first post.  I know I need to do a proper intro in the intro section.  

Anyway, glad to have found you all and look forward to your next meeting.  My suggestion for a meeting place would be Great Raft Brewery in Shreveport.