All Forum Posts by: Jesse Rivera

Welcome to Portlandia!

Welcome Laura, this is the place to be!

Hi Randy, Sounds like you have a great plan. A very successful investor said that the way to get rich in real estate is to by 7 properties, and treat your tenants like gold. Cheers!

Welcome Brittany! If you are looking to buy at a discount, let me know. We buy a lot at auction and wholesale a bunch out. Just let me know what your criteria are and I will keep my eye out!

Hi Casey,

Welcome to BP. This is an amazing resource to start your education. And the local investor meeting are a must as well. Hope to see you at one of them!

Welcome to the site!

Why in the world would a seller accept a contract w/o an EMD? I would never do it, and I would never let one of my sellers do it. EMD is the only damages available to the seller (at least in Oregon) if the buyer walks away for no reason (besides the negotiated contingencies). The seller is taking the home off the market with the expectation that the buyer is serious. The EMD keeps the buyer honest.

Just because a broker works for the same company doesn't mean he see the same deals. Every Broker is an independant contracter, has their own connections and do their own marketing. Spread the word with all Brokers you meet. And let then know you will list it with them if you buy the home (after rehab).

Here is what you tell the listing agent, "I am a real estate investor, and just wanted to check out the house. Do you mind if I take a look? Also, do you ever come across fixers that can't be financed? If so, give me a call. I will let you keep both sides of the deal. I am a cash investor and can close quickly."

Give him you card, get his card, and touch bases with home (phone call, not email) every few months. Put it on your calendar.

Networking with Brokers, lenders, wholesalers and other investors is essential in this business. And making phone calls to them to develop a relationship, and keep in their minds is gold.

PS: I am a real estate Broker. We buy stuff at auction, and wholesale some of it. Who do you think I call first when I have a wholesale deal? Yup, the people who bug me all the time. They are on my mind, and I know they are serious. 

You should not be buying a property at auction without doing a title search. Period. End of story. You need to be looking for liens that will stay with the property after auction, and each state is different. These are debts that the buyer will be responsible for. Taxes? HOA? Is it a 2nd that is foreclosing?

Also, is there a redemption period after the sale? In Oregon, there is a 6 month period for redemption. But we have found a way to sell in 3 months, and in some cases, 1 month.