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All Forum Posts by: Jesse Rivera

Jesse Rivera has started 24 posts and replied 455 times.

Post: How to report a Shady Realtor

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

What exactly has he done wrong? Is it the law in Florida that terms must be disclosed in the ad? What does the listing say? For all you know, he may doing what the owner wants him to do.

I'm not saying he is a great agent. There are plenty of bad ones. But unless he has done something illegal or against the state agency guidelines, a complain will go nowhere.

Write an offer, contingent on inspection and visual inspection. He will have to present that to his seller.

Post: INVESTOR/REALTOR, what is your business Plan?

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289
Originally posted by Joel Owens:

The broker is responsible for everything you do in relation to real estate activities. You are doing real estate ON BEHALF of the brokerage and qualifying broker. The business is not your own to decide what kind of deal you want to cut with buyers and sellers.

I don't agree, and it might be a state thing. When I am representing another, which requires a license, then I am working on behalf of my brokerage. But if I am a principal in a deal, then I am working for myself. I am held to a higher standard, and my broker is required to check and sign all paperwork, but the check goes to me, and my broker gets no cut.

But my brokerage is VERY investor friendly, and I know most are not. It is a different animal, and a different mindset. I would suggest finding a broker that understands and supports my business model.

Post: Portland, OR Meetup!

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

Looking forward to it!!!!!!

Post: How do you identify a neighborhood on an upswing?

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289
Originally posted by Jean Bolger:
A very successful real estate developer I know talks about identifying "barbell" areas. That would be an area, or a corridor, between two areas that have already gentrified. I experienced the benefit of that with my first property (by luck, not on purpose!) when I bought in a dodgy area of town that was between two fashionable areas. Now it's almost the priciest part of town. (I sold up, took the money and moved on to another dodgy area, haha!)

Great advice!

Post: How do you identify a neighborhood on an upswing?

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

Look at the cars in the driveway, that is a great indicator. If there are nothing but hoopties, than the neighborhood is not going anywhere. But young professionals drive nicer cars, and they are the ones that bring the neighborhood to a higher level.

Post: Bad Dog Odors

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

We do the same as Michael Woodward, except our last step is to seal it with polyurethane, not shellac. You can buy a big bucket at home depot, just use a mop to apply.

Works like a charm.

Post: How do you deal with "burn out"?

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

Get a job in a cubicle and live the slow death that most must endure. That would get rid of any burn out you may have for investing and you will be thanking the heavens above for the life you have!

Post: 203k Loan

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

They can be a pain. Make sure you use a lender that is VERY familiar with them, and even a contractor that has done them before. Tried to do one a couple months ago and it was a nightmare. Kept getting the contractor bid returned because it was in the wrong format. DOH!

Post: Buying at sheriffs sale with possible IRS lien

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

IRS lien is a 120 day right of redemption - they can redeem the property in that time period if they like. But I have never heard it happening, they just don't have the budget for it.

And you cannot pay off the lien, just have to wait the 120 days. then you can sell it. You can start rehabbing if you like.

Post: Newbie from Portland, OR

Jesse RiveraPosted
  • Lender
  • Long Beach, CA
  • Posts 488
  • Votes 289

Hi Jen, a big welcome to to you. Love that there are lots of Portland people here.

When are we going to do a Portland Bigger Pockets get together? Brandon Turner said he is coming down in soon, let's set a date. I would be happy to coordinate it!