All Forum Posts by: Joel Calkins

Here's the way that I look at it.

Almost every asset class has some level of unpredictability or volatility this includes the housing market. My analogy roots from the stock market and goes like this; Some of the wealthiest investors don't pay attention to what the market is doing they do something called dollar-cost averaging where no matter what they buy a certain amount of stock, bond, ETF. 

The concept also applies to REI but on a much larger scale. If you find a deal that cash-flows or has huge upside potential then buy away.

In most states, the listing agent is entitled to their commission if they have brought a ready, willing, and able buyer. Also, it's not up to the listing agent to determine what offer will work because it is completely up to the seller. They have to present the offer whether they like it or not.

On the other side of the coin, the Realtor is probably advising their client that seller financing incurs more risk to the seller.

As a real estate agent, I would highly recommend using some form of representation. The reason is that it costs nothing for the buyer. At most the seller would have to agree to compensate the buyer's agent somehow.

I understand this isn't always the case so here's what you need to look into:

1: Will the owner offer any seller financing/land contract deals?

2: Do you have a title company that can dig up the necessary documents?

3: Find a promulgated or pre-drafted purchase and sale agreement that corresponds with your state. Or review a contract with a real estate attorney.

I highly advise leveraging the use of real estate professionals, i.e. a mortgage broker and an investor-friendly real estate agent. With this combination, you can cover any financial questions with the mortgage broker and any neighborhood, data, comps, questions with the agent.

As a buyer remember it costs nothing to use an agent, the cost is incurred by the seller. Also, find people here on BiggerPockets that do vacation rentals and become a sponge to all the information you can find.

Hi Tyler, welcome to Bigger Pockets, and congratulations on beginning your RE journey!

I can highly relate to your story and took an eerily similar path. Right out of high school (Last year) I became a sponge for everything real estate soon after got licensed in Michigan. My goal was to work with investors at the highest level. I'm brokered out of Keller Williams and I know most other agents will beg and plead you to come to their brokerage but the Keller Williams reputation speaks for itself and I know the teams KW has in Tampa are killer! 

I would say start off with small residential or multifamily deals so you can expand your network and tool belt of mortgage brokers, inspectors, and others. Once you get the handle of how the transaction process works then you can move on to your investor clients.

I'm getting licensed in Florida as well and going with the KW branch in Naples so give me a call I would love to answer any questions you have!

My Cell: 810.588.8154

Get in touch with Dave Foster here on Bigger Pockets. He is a qualified 1031 Intermediary and might be able to help you take your next steps.

Hey Raymond,

Check out Mojo Dialer, most everyone in my office uses them.

Hey Mark,

Welcome to Bigger Pockets and a warm welcome back to the States! I'm an agent and investor in the area and I primarily specialize in helping investors achieve the goals of their portfolio. If you ever need anything from me shoot me a private message or save my phone number in my Bio.

I would be very careful with liquidating any of your stocks, bonds, and others due to the penalties you can incur. You can look into self-directed IRA loans and that might suit your needs.

But to many people's surprise, you don't always need the huge downpayment to get in the game. There is no wrong way to go about it, you can use OPM or "other people's money" or utilize a government downpayment resource or look into FHA loans to see if you qualify.

For a first step get in contact with a mortgage broker to see where you and your financials stand as far as obtaining leverage on your money. 

Seek out a promulgated or pre-drafted contract or some form of legal advice on writing a contract. BiggerPockets has some resources you can use in the "Tools" section depending on what level of membership you hold. There is a lot of nuance and ambiguity to contract law so best to seek out a qualified person to save you in the long run!