All Forum Posts by: Kevin Scott

@Skyler Mckinney pm me again if your interested in a little more help.  All free but I will need to know how available you are and more details about your budget.  Doing a little training for people in markets I'm interested in so that once I know you are comfortable you can kind of be boots on the ground for my own marketing in that area. No charge for this but I do expect communication and would want to start with a larger background on you and what you are currently doing.  I know you're not giving up as you have been at this for over 6 months so thats a good sign.

You could be sued.  You could be fined big money if its a distressed homeowner, IF they prove you never intended to actually buy.  This probably wouldn't happen but its possible.  IMO Just don't put a property under contract that you wouldn't buy yourself.  If you can't find a buyer buy it yourself.

If you put the property under contract for a truly low price it shouldn't really matter as people will buy it if its a deal.  

IF you put a property under contract and never actually intended to buy it's illegal in just about every state if not every state. This is considered brokering without a license or at a minimum intentionally skirting the brokering without a license rules and regs.  I'm not a lawyer so definitely double check me but this type of stuff is what forces the government to put in new regulations to protect people.  I have yet to read any states rules that say its flat out ok to do this.  It is a great option to use but it shouldn't be your first exit plan.  

I know your just asking a question so my response isn't meant be directed at you.  When I say "you" its literally anyone. 

The ability to assign a contract is a great tool. But if it's abused (and its getting abused a lot these days) they will crack down. 

 Here's an example of what I mean.   Joe buyer decides to market to a person in preforeclosure.  This person agrees to sell to Joe and Joe has no intention of buying.  They are literally desperate and counting on Joe to close (a realtor offered to list it but Joe said he was a cash buyer and no fees and fast closing).  30 days later Joe is asking for an extension and a price drop but there isn't room.  Seller's house gets foreclosed on.  

Someone might say well you can put the necessary distressed seller notifications in the contract. blah blah then also tell the seller upfront what they are doing in an effort to be upfront and honest that I am going to sell my contract.  Well at that point you are telling the seller you are brokering without a license.

Not trying to freak anyone out.  There are ways to do these deals but in general don't contract a house unless you feel like you can buy it.  

When is the next one after that or if you end up doing one prior let me know. Ill be out of the country from the 25th to the 11th but would love to attend a meetup in that area.  (where I started 16 years ago).  I still buy in that area. 

Possibly that "mentor" was saying it to see how you reacted.  Whatever your personality test says its pretty much irrelevant to being able to become FI.  It might mean you won't be the best business person or whatever but there is no for sure and you don't need to be a great business person to become FI.  

If I told you the same thing as your mentor and then saw  you go for it full throttle anyways I'd smile and say you're probably going to make it.  With real estate the people that fail are the ones that never pull the trigger.  Even if you falter but keep pressing forward most people will eventually make it.  The issue is most people quit.  

You were in the military so I'm going to guess you take instruction better than most.  As long as you have someone giving you instruction you will be fine.  This business is pretty simple, not always easy but its really simple. 

Maybe getting a job (you might have one I don't know) is a good start. There is no reason you can't chase it with a job, and it'll probably make getting to FI a little safer.  IF you have someone that is helping to support you without a job then go for it, you can give yourself a timeline.   WIth a little money and a lot of time you should be getting results pretty fast. If the timeframe ends then get a job and continue at your own pace.

@Or Basan

Do you use a crm?  Mine has that ability built in for the one offs.  Still use caution.  I'm not saying we do that or don't :) but its definitely in our crm

@Steve Morgan  are you going to get your license regardless or trying to decide if you should or not?  I pm'd you just fyi if you don't want to post public all this stuff

@Steve Morgan do you have any experience that relates to the industry.  Just trying to get an idea.  I also pm'd you.  I have started helping people more closely that have a budget for marketing.  I help those without as well but it's pretty much advice only.  Just found that people that have a budget and spend it are more likely to take action and follow up on their leads etc. 

@Steve Morgan do you have a marketing budget that you can spend every month for several months even if a deal doesn't happen right away?   How much time do you have to do the free or inexpensive stuff?

Be careful with that,  it's getting promoted a lot but auto text messages should be checked for legality.  500 fine per text per person from what I understand.  That being said it could be fine just check into it.  I built an auto text and rvm system for myself and others I help then scrapped it when I found out their "might"  be issues.  If it was just myself I wouldn't have been too concerned as reply messages are more likely to be ok but auto blasting should definitely be looked into deeper.

@Pam Krull I have nothing on them personally but heard they are alright.  Subscribing to this thread