All Forum Posts by: Ryan A.

Does anybody else have any info on Alexis McGee? I can see value in her website information but are her books and seminars of high value?

Give me the $10k and you can live in my parents house!

But seriously....

What are your goals?

If you just want your own place, call some agents and go house hunting. Your $10k should be enough of a down payment for an FHA (first time) loan on a small house. Call some lenders and see what you will qualify for. No harm in calling to find out. You will get an idea of what you can afford.

If you want assistance with your mortgage consider a multi-family home. Your tenants' rent will count as income towards the mortgage payment. This requires land-lording if you are comfortable with that.

If you want to invest and are advantageous there are MANY avenues to success. Opportunities are abound with the current housing crisis. Short sales/preforclosures, REO's, distressed property, rental properties & flipping are all options.

There is a wealth of information here at biggerpockets as well as all over the internet. You local library has a pile of books on how to make money in real estate as well as managing rental property. You must be willing to learn if you choose to invest.

Most importantly - whatever you choose to do, DO IT TODAY!! Get started now, don't wait.

Good luck!

Great responses. I'm starting to see both sides.

I have no problem working with a buyer's agent on a listed house. In this case, the seller has already agreed to pay someone a commission.

My problem is that if I find a FSBO, the seller has no intention of paying commission. That's why he's FSBO. Why bring in an agent if the seller wants to work an awesome deal without? I have an RE lawyer who will check my work and help with closing.

So why should I sign something that allows them to control this?

That was my motive.

Thanks for your input!! :wink:

I've read over and over to be sure I'm not missing anything.
I'm positive this agreement is in effect a blanket agreement to cover any property I acquire.

Wow.

So I've created an addendum which I will attach in this post. Maybe this will help anybody else who may run into the same situation.

If anybody wants to read this greedy and almost predatory agreement, let me know and I'll post.

Thanks for the responses.

Ok. So I need to be more assertive.

Now here's a good one:

I've already signed with a girl in one area for 3 mos. She failed to tell me the agreement says she can still profit on closed properties up to 3 mos AFTER the agreement ends. This agreement is worded to say that she can come after me for any property I aquire.
So now what? I could ask to modify - if she would agree. If she didn't, it would probably be a bitter 6 mos between us.
What other recourse do I have?

I am actively looking at unlisted properties and making calls on vacant / distressed properties.

I didn't think I would be the jackass to sign before reading :roll:

AD1985

Am I right to believe that commercial property depends mostly on location? If a commercial property is vacant/partially vacant can we say it is most likely in a not-so-good spot or in such poor condition that no business would lease?

That is the first thing that comes to mind when I contemplate commercial realty.
I guess you could get lucky and find mismanaged property.

Thoughts anybody?

InOverMyHead

Did you ever find more information on this? I'd be interested to know.

Thanks

Good luck!

Josh

What are the restrictions for PMing people.... do they have to be colleagues first?

dougnorrie

Check in here for more info on what you're talking about
http://forums.biggerpockets.com/viewforum.php?f=83

Good luck!

Are you referring to having the seller finance a portion of the sale price?
This can be lucrative if you find the right sellers.

Look here for more info on creative financing
http://forums.biggerpockets.com/viewforum.php?f=50

Good luck!