All Forum Posts by: Karl Krentzel

Well, I can assure you the problem is your volume.  You can typically only post approximately 12-15 posts per day per account without running the risk of "Ghosting".  Which means that it appears as though you posted them, but then they never show.  

I use multiple accounts, and post not more than 15 ads per account per day.  That way you get maximum coverage.  

Also, it depends on HOW you do it, as well as WHEN, but that is a different discussion.  Your problem here is clearly one of TOO many ads.  50 is guaranteed ghosting.

 Thanks for the mention! I appreciate it very much!  I tried to make our script book as complete as possible!  As a matter of fact, we just released out our latest book!  The Red Pill Sales System!  You may want to check it out in the Marketplace!

How cool is that!  I literally just made a podcast about that same strategy Today!!  It was called "How to find an Investor-Friendly Realtor®!"  Good luck on your search!  Check Facebook as well, TONS of agent forums in that area!

  ARGH!! Thanks for the catch!   35k or less in repairs!

@Christina, when you get that financing info down, then you can get REALLY Creative!!!  

FHA 203k Basics and Fun!

As to FHA 203k, there are two types. Streamline and Regular. Streamline are for cosmetic type damages under 5k and the regular is OVER 5k worth of repairs. There are several conditions.

Namely;

• You must use licensed contractors
• You must get approved bids prior to the work being done
• Work must be done within (either 90 or 180 days) a specified time period.
• Additionally, to do a FHA 203k program, there are some minor additional costs.

It seems like the chief question is the Agency one.  If he is a Realtor® then he needs to disclose to you the presence of a valid Exclusive Right to Sell, but more specifically ANY COOPERATION.

It is NOT a guarantee that because it is listed that there is cooperation. 

Ask the "listing agent' what the terms of cooperation are first. 

FHA 203k Fall-through Rates

It's not like they fall through more, or less often.  It is just that many lenders do not want to do them because they are typically much more paperwork, a lot more hassle, and generally are not as profitable as say a conventional 20% down would be.  

Ask around... you will find a Mortgage Lender or Broker in that area who will specialize in 203k. Ask the local HUD Brokers who does them. They will know. Because of the ppwk involved, and the approved inspectors, appraisers, etc. it is simply easier to find a specialist who knows that product.

Best of luck, and a powerful sales day to YOU! 

Maybe I'm Wrong...

I remember when I started out.  How difficult it was trying to figure out what to say to the potential buyers and Sellers.  

Well.  Mostly the Sellers.  

I mean, when you think about it, it's not that hard talking to a typical buyer.  However, talking to a Seller, asking them about their price, how much they owe, and offering prices to them, making offers.... its a LOT different. 

Please Accept My Apologies.. 

I don't mean to be rude.  I'm sort of new to the BiggerPockets Scene. My name is Karl Krentzel, and I am a practicing Realtor®/Broker and Wholesaling Investor in Tucson. 

I run a small podcast called The Red Pill Investor, and on that podcast, we have a Premium Podcast that has ACTUAL recorded sales calls with LIVE motivated Sellers. 

What I wanted to talk with you about quickly today is to see if I was wrong.  When I started out, it seemed important to me to know what to say, and it would have been invaluable to hear people in actual dialogue.  

Fast Forward 18 Years, And Steve Jobs...

Thanks to technology (trusty Mac and Skype!) I now record actual conversations (disclosed to them of course) and use these actual conversations to train my most favorite listeners! (Hear a "Chopped and Screwed" episode with several examples) 

So if you have a minute, please feel free to take a minute to check us out over at The Red Pill Investor for our regular, free podcasts, but definitely check out our Premium Podcast Plus!  It comes with extra benefits, including ACTUAL Sales calls, presentations, and much more! 

Once you sign up, you will have immediate access to some of these great episodes, again, with RECORDED Sellers! (Remember, there are literally over 300 episodes of info we have!)

Episode 371- Probate Profits Using Craigslist ACTUAL Sales Call!

Episode 368- Motivated Seller Says "$500 down Take over payments"

Episode 362- Over the Phone Wholesale Presentation Including Pricing

And many more.

I thought it would be of immense value to a newer person, or a Realtor® who is learning to wholesale.  Certainly worth .63 per day.  Along with all the other benefits of a Premium Podcast Membership, you would certainly win.  

So, you tell me BiggerPockets Forum... was I wrong?  I'm betting that it's worth the investment.  

First!!! Congrats on being a new licensee and investing! 

You've stepped out of representing others and into representing yourself.  It's "kind of a big deal."

Now when you are using your "powers for good" (investing for yourself) as a licensee, there are some things you have to do to keep safe.  

ONE of them, is use the state approved contract.  While the "Contract Clause" in the Constitution gives you the right to write a contract on a cocktail napkin and the "Statute of Frauds" gives you the "what's required", your being a Real Estate Agent typically requires you to.

The good news is, among ALL of the things Realtors® need to know when wholesaling , the contract is the hands down EASIEST!!!

Good luck, and have a powerful sales day!!

 OMG.... that is absolutely true.  Preach on!

 Great post.  I was thinking about that very issue myself.  Looking for some specific resources regarding Title Holding Trusts and came across this article.  

 Hmmm... complicated questions you have!! 

Let me see if I can answer them in the best way I can!

Question 1: Who do I present this to? 

In the absence of a valid listing agreement, and placement on MLS, there are a lot of variables that can affect this outcome. If they are a Realtor® or not could affect their adherence to the Code of Ethics so that might pose a problem. (i.e. a non-Realtor® would be under no obligation to disclose the status or end date of any contract with a potential seller. for more information, see case interpretation Case #16-7: REALTOR®’s Refusal to Disclose Nature and Current Status of Listing to Another REALTOR® (Revised Case #21-13 May, 1988. Transferred to Article 16 November, 1994.) If they are a Realtor®, they are under an obligation to let you know it's current status. 

However, let's check out your second question... 

"I asked the man yesterday if he has the listing. He said yes. ...... So it's not like a "pocket listing" from the time of his first phone call like he had the papers but had 24 hours before putting them into the MRIS."

It may be a case of mistaken identity. When you talk to him, make sure that you ask him for the MLS number so you can look it up!

For your FHA Question...

Typically, since you are an agent, I would recommend that you check with your company affiliate lender.   They probably have one!  Have them take you out to lunch (**they will pay*** LOL) and explain to you all the intricacies of financing.  

If there is ONE piece of advice I would give you (I actually have about 371 pieces of advice available)  after 18+ years in the business, is the BETTER you know financing, the more competitive you are!  That is MOST Agent's weakness.  So the better you know it, the ins, the outs, and especially the special programs that come up for first time homebuyers or investors (i.e. Homepath's 15% down Investor loans) the more "at bats" you will get in your career!

Good luck, and have a powerful sales day!