All Forum Posts by: Loren Oatman

Congratulations. You started a business and a journey. Being a Real Estate Sales person myself I can say, yes. Everything is negotiable. It is a lot to learn and cost a bit to get into in total. There are many good reasons to get into real estate sales and there are some not to. Brandon Turner has a video on the pluses and negative reasons. It is a personal decision to make. To the Short of it what does it cost to start. Time, is the most expensive part. You have to be a self starter and willing to put the time in to learn. Money. There is a list of cost that come at you. Licensing, MLS, Software, Brokerage Fees, Board of Realtors. Lets not forget business cost. In short- approx $2000.00 your first year or more.

Perspective on this. What does it mean. $2000.00 is Cheap to start a licensed business. DON"T let this be the only reason not to do it. The rewards can be limitless only by your actions and skills that you build. David Greene has a great book that is out. Look to the many great people here on bigger pockets and search out what you want to or need to learn.

Congratulations on your journey. 

Feel free to reach out to me.

Loren

Thank you. I must agree with you guys and so does my friend. We discussed cash for keys and feel that this occupant is not going to go for it because he knows that he can stay for months for free and that nothing can be done about it. Other options are being discussed with the lawyer at this time yet there are little options available at this time. Possible sale of the property? Yet , it would depend on the buyer. Many would not want the headache. The occupant is denying access to the property for inspections or pictures.

I have a friend who had a tenet that moved out but had a roommate that was not on the lease. It was February and in Central NY a cold time of the Year. My friend the owner let the roommate stay feeling bad for him. The RM( Roommate) is now the sole person in the house. He paid two months and was given a receipt on the last payment. The RM stopped paying rent in May and stated that he no longer has to pay rent because he is disabled and NY Governor says that there are no evictions until September. My friend was told by a lawyer that he is stuck because he gave the RM a receipt. I would like some feedback about this situation and see what other people thing about the  situation. 

Sorry for not capitalizing the book titles.

I am getting my real estate sales license and want to know from any of you experienced real estate agents what would be you top ten things to be successful as an agent. I have just read David Greene's book sold and Gary Keller's book the millionaire real estate agent. Experience is the best teacher, yet learning from other helps diminish the pain at times. 

So if you would be so kind, please leave some suggestions to be a successful agent. 

Thank you.

Thanks Nick. I just find it hard to believe that people will walk away from a good deal and leave money on the table because I'm making a large assignment. I learned from another wholesaler to qualify my buyers by asking them the question. If I purchase a property for a dollar and sell it to you for 50 thousand dollars and it still is a good deal for you. Would you have a problem with that? And qualify or disqualify the buyer by their answer.

I was talking with an investor friend about the wholesale spread on assigning a contract and how some rehab buyers not liking when you make more that 20k on a contract. This number depends on the deal. I asked him if I put a property under contract for 30k and wanted to assign it for 50k would it bother him? The house needs 40k in repair and the ARV is 200K. Just for numbers. He said yes. I asked Why?

He said at first if the deal was from and old lady who didn't know the value of her house and you did this it would be immoral. I agreed. In addition the possibility of a family member contesting the deal and such. Note this is not a real deal and there is no older lady involved. He just countered with the scenario. I don't believe in taking advantage of people and we closed on the old lady thing. 

I asked what if it was a family member in another state or a business for what ever reason sold it to me? He still had a problem with it. My friend is a good person and not at all greedy. I pointed out that in the deal you would still make 80k on the deal minus closing and sale cost.

What do you think. At what point is the spread a buy and resell.

Try to find someone on Fiver in that area that takes photo's and let them know exactly what you need and how to go about it. They can send you the photo's or a video done with their phone that you can upload. Or craigslist.

I agree that's, good to have a verified buyers list. People looking for deals and able to close. I also agree that you should be willing to close on the deal and make the money too. The more options you have the better it is for you.

Look in the area of the property that you intend to put under contract and see if any houses that match your's " wholesale deal" have recently sold and appear to be rehabbed/Flipped by and investor. You know, Clean, New appliances, HGTV gray color scheme, New everything. Look what it sold for. #1, Look what the original purchase  price was. #2  Ex. Purchased 70k and Sold 135K. If the deal makes sense for both you and an investor. Knowing your numbers with realistic rehab numbers.#3 Put it under contract for 70k or less.#4 Find the listing agent for that property and ask if their investor/person they sold the house for is interested in your deal. Now you will do this once you have the deal under contract and you are building a relationship with the agent who is likely to have more than one investor buyer. 

Find a real estate attorney that does wholesaling deals in their practice to get advice from. Start building relationships with people who do what you are doing. Maybe JV a couple of deals. You tube, Their are many resources out there. But wait to pay for education until you have done you tube university for a while and check different sources. Good luck.