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All Forum Posts by: Mark Ferguson

Mark Ferguson has started 247 posts and replied 2799 times.

Post: Are REIAs a scam?

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Bill Gulley:

Okay folks, sorry I  got behind in my volunteered duties here. 

Gee, one lashing from the lady who I thought loved me wanting to have dinner and drinks....LOL.

Okay, my bets were in jest, but even so, no one will qualify,  I'll  explain why in a second or two, maybe 2,120, depending on how my fingers feel. :)

Writing a book on "How to entice your evicted tenant to leave for a weekend while you clean out the house and change the locks" is not teaching real estate. Might be a good book if it doesn't suggest unethical or illegal practices, but that isn't teaching real estate.

Mark, your material might be very good, I've never seen it and I don't recall you advocating anything too wild or crazy, I think what you're saying is you teach real estate techniques or aspects of real estate. I'm doubting you teach "real estate", meaning from A to Z, I'd even go along if someone didn't teach about links and chains or that a lot line can be from the center of a river not the banks of the river. 

Next issue, I know we had BP members who taught real estate at state approved schools, that would have qualified, but what  tossed them out of the ring was they also taught beyond their qualifications, such as in finance and got it wrong! One also was still trying to teach old practices which now have title issues and are seen to circumvent law, so they are not current and therefore, wrong again!

As to gurus, being popular, attractive, witty, friendly, or just lovable doesn't mean they are ethical, lawful, correct or are qualified.

Qualified: Now, that is an interest aspect for a teacher or instructor. Anyone might be able to teach a dog to fetch. Anyone might teach their child not to throw things. But when you get into  the realm of professional instruction, not a trade as a machinist for example, but into areas that are considered professional practices, there is a different standard for qualified teachers or instructors. 

Does anyone believe they can just call a state real estate commission and get consent to teach in an accredited real estate school. Maybe tell them you have done 800 deals and made 10 million, see if they are impressed and say you're qualified!

That's exactly what BP members do, try to follow the claims of money made and identify dollars with success and therefore "qualifications". I'm pretty sure I've made more than most on BP in real estate, and more was doing other things as well. Out of all mt posts on BP, you won't find a single one boasting about how much I've made, frankly, that isn't my qualification and it's no ones damx business! If you have to talk about your money, you don't have money! I mean really, I don't even talk about my money with family members, some of them would be the last ones I'd say anything to, but the have an idea, that's all they need to know. 

Your gurus talk about money because, 1. it impresses those who don't have it and 2. they have no other qualification to use as a bench mark to convince you they have valuable information to give you. People are easily impressed and naive, especially the younger folks. 

What I see after years of being in real estate investor forums, is a lot of misguided people, IMO. Most are young, but not all. They have the wrong equation of life and business, Money=Success=Knowledge=Qualified. In fact, they are thinking *** backwards, you begin with education and become qualified, then you gain knowledge, then comes success and the money follows!  

The sorry fact of the matter is, the chance of real estate operators or investors coming into the business to day making what I have is slim and none. You aren't me and I'm not you! Your aren't that guru either who you want to clone yourself after either. 

The world really is out there for you, but to be a winner you'll need to suffer if you aren't starting out with a pot full of money. The sooner you accept that the sooner you'll  be on your way to success in  life, financially, socially and morally. If you aren't willing to  suffer, you will fail. Dreamers, not doers. You'll have better luck playing Lotto than getting into real estate thinking you're just smart enough to wing it on you own or following some idiotic step by step formula. 

I really am amazed at how some marketer can convince an adult that real estate is like following grandma's recipe for beef stew. Even more amazing is the follower thinks he's a world class chief.    

Now, if I hadn't gotten the tongue lashing above, I might be in a better mood to ***** foot around the bush while whispering hints and telling it like it is. Over the years of dealing with folks on the internet, I have found most can't take hints, they need a strong dose of reality, a reality they know nothing about. 

Like the song goes, "that pat on the back may just be holding you back!" Develop a good BS Meter! 

As to my quick judgments, that's from experience, as to my harsh tone some pick up, it's a lot like the drill instructor in boot camp, his job is to save your ***, not be your best beer drinking buddy, he wouldn't kick your tail if it didn't need it and he didn't care about you!

I think if most read my posts as if I were talking slowly and quietly, you wouldn't be so offended, if you can't read them with good intentions, don't read them. But most often. I'm right. A lot of it has to do with typing the least amount of words, so I leave the roses and incense out. 

Watch out who  you tag up with to learn real estate, most don't have a clue but they will reach in your pockets. :)

My HUD class I teach is approved for 2 CE credits by Colorado. It was not difficult at all to get that approved. Had to give them a brief Bio and an outline of the course.

I look at it this way. If you can pay someone to help you make more money than the training costs, why not do it? It will save you time and headaches. I went to college (Bachelors in Finance) and I learned a lot more from the coaching I have payed for from non-accredited real world people after college than I did from any professor who was the typical educator. 

I have spent close to $50,000 on education for myself in the last year. Various courses, conferences and mastermind groups. It has been some of the best money I ever spent. 

When you see the most successful people in the world, they usually have the most expensive coaches. 

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Darnell Kramer:

ohhhhh no... @Mark Ferguson we know you are serious and well seasoned.  Gonna through the really hope this is not a three year get the tenant out like another well seasoned BP investor was having.

Looking forward to the story.

 Ha-ha, I know that story. Worst case this is a one year get the tenant out while I receive rent. 

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353

the house is only 10 years old. I have seen peaks inside from the front door and it looks perfect from there. 

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Account Closed:

So current plan is to see inside tomorrow.  I hope that will not just be the first delay in the project.

I have been thinking about an amount to offer for the keys.

I think I would go higher than some others here might.

Anyone want to suggest an amount?

 It's going to take quite a bit. :)

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Matt M.:

I did cash for keys down in Denver during the downturn. It is not fun being the "face" of the bank even though you aren't. It was a very humbling experience. 

What does your scope of work look like? 

 I always thought of cash for keys as a way to help the previous owners. Many times they expected nothing. I figured if I was nice and listened to them it will help the transaction and usually did. Very rarely did I have bad cash for keys experiences.  

Post: Burned on foreclosure purchase

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353

Bought at courthouse steps. 

Day before the sale the previous owners filed a lawsuit claiming the bank foreclosed wrong. Long story short. It took over a year for the courts to hear the case and promptly throw it out. We could do nothing to the house the entire time.  

We bought a meth house unknown to us on another one that ended up being burned down by the previous owners friend. 

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Vince Padalino:

good luck!!

 Thank you!

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Terri Lewis:

I see by your profile your a very experienced Realtor @Mark Ferguson. We've handled cash for keys for clients and no they are not all the same or easy. No amount of money works for those that are attached or those who think they have a right to stay. Those seem to turn into evictions as you are well aware of. Sometimes a very costly avenue.

Well good luck, I'll be interested in how it works out. 

Yes, there is a lot going on with this one. Hence the great price. I am a REO agent too and very familiar with cash for keys. Usually you can get something worked out pretty easily. This is a unique case.

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Emmanuel Tejeda:

Good luck Mark!

 Thank you!

Post: I get to see the inside of my $500k flip for the first time on Tu

Mark FergusonPosted
  • Flipper/Rehabber
  • Greeley, CO
  • Posts 2,879
  • Votes 1,353
Originally posted by @Terri Lewis:

I agree with @Charlie DiLisio Cash for keys is a great way to encourage the tenant to vacate and not do damage. You can also get them to follow a simple outline as to what you expect out of them for the amount you are offering them. This can help them possibly get another place for them, and a place they can take their belongings to. 

 That's the plan, but it's not a simple deal on this one.