All Forum Posts by: Tom McGiveron

"Contigent upon third party approval" - could mean anything like - your attorney has to approve it or your "partner". (it gives you an out) AND most owners won't sign it or take it seriously).

"assignable by buyer" is the same as "...and or assigns." - means that you, the buyer, have the right to assign the contract (give the contract terms and agreements to another buyer to close the loan). Wholesalers do this - BUY LOW, ASSIGN THE CONTRACT AND MAKE A FEE because - and this is important - it's a DEAL.

i find these posts pretty funny actually. before getting my license - i talked alot about realtors or "brokers" myself and said how they lacked knowledge or "gumption" or whatever.

okay - the "broker" or owner - uuummm usually is an investor and a big one at that. they make ALOT of money - and own commercial real estate and some either own or have owned residential.

they find deals and they buy them. period.

in my experience - it's most "investors" who are......a complete waste of time dealing with. it's funny actually.

i don't run around and "bird dog" for anyone. i talk to some that i meet and they talk ALOT but then when i send them EXACTLY what they're looking for - they don't follow through. i can look at a foreclosure or preforeclosure and know what the deal is - what the number is - and maybe, just maybe - i don't want to spend my time and money on fixing it up or whatever. i'd rather just help an investor to what he/she wants, get paid and move on to the next one. period. if i can close 10 deals a month (with investors) - for me in commissions, that's $30,000 there abouts - and i didn't have to buy anything, put anything on the line - i just do the deal and bam, i'm on to the next one.

the reason they don't "keep all the 'good ones' for themselves is simple - it's not part of their business plan OR - like was mentioned - they don't have the money or the creative mind (or want) to do so - period.

but those are AGENTS i'm talking about - the "brokers" know what they're doing (most anyway) and i assure you they own real estate and a lot of it.

i definitely agree that most AGENTS don't have a clue - for real.

but there are plenty of brokers and agents that buy real estate and know what to look for. they don't run around chasing newb's or wannabe's either. that's a HUGE waste of time.

i would put links in your home page like:

In order to contact us, fill out the http://www.thebesthouses.net/sell.htmlsellers/buyers form. - but just make the word the link and of course separate the sellers buyers form links -

one for sellers and one for buyers.

continue through the homepage - make it easy for visitors to get right to the punch. no screwing around.

check for misspellings as well - i.e. "how does our "123" process WORK" not "works".

how do you plan to market the site?

to me, your post is the mother of all posts because of the topic. it's basic and it hits home, big time.

i can't tell you how many people i've met and said to myself, "how the hell did this guy do all this - he's a half-wit!" meanwhile, he's driving a vet and is so carefree - i say to myself - "how the hell did he do this?"

the bottom line (and this is not gender specific - it's just an expression) - BALLS.

at the end of the day - it takes BALLS to step outside the box, whether you're going to be a real estate investor or just do something that takes RISK.

RISK of money, if you put it in perspective of LIFE. at the end of the day you'll find that that is the least of your worries.

RISK of life - like physically, really puts things in perspective on a grand scale - that's serious business.

RISK of spirituality, the most important. when you sit around and don't take RISKS, you RISK destroying what is the ultimate gift - your spirit.

there's nothing like seeing a person without hope - it hurts, even when it's a total stranger. when it's a family member or close friend - it can make you cry like a baby. and when it's you, it's frustrating as hell!

so, i say to you - go out and do what you want. if you think in your mind that what you're doing is a good thing - then do it. if what you're going to do is going to rip someone off or if you wouldn't want it done to you - DON'T DO IT!

TAKE BABY STEPS. but hell, you can make them bold - WHO CARES ABOUT TALKING TO "busy" REALTORS??!!

let me tell you something - a realtor never wants to piss anyone off. some think their sh*t doesn't stink, but you don't have to start at the very top with a realtor who's closing 30 million dollar deals -

you see a sign, call on it. use google and type in different stuff like locations and then follow up with "real estate".

GO TO OPEN HOUSES. find those handyman specials and call the realtor on them, see if he can help you out. who cares. dump the feelings that keep you from moving forward. that's probably the single most important step you'll take.

forget fear of embarrassment or loss of money (to an extent of course).

there's dudes (and dudettes) that are walking the streets in Bagdad, a bazillion miles from home on Christmas Eve with their LIFE at RISK.

and here's my last tip - a good realtor will have referrals for attorney's and don't sweat a title company so much - although they can be like NIGHT AND DAY - just ask around and see who comes HIGHLY RECOMMENDED. usually the cream rises to the top and aren't hard to find.

contractors - please - dime a dozen. f*ck it - walk onto a job site and ask around. just say, "hey i'm looking for a plumber. got a card. i'm doin a job on the other side of town. big f**kin house. i'm moving on soon and i want a new guy."

be sure to use the obscenity. :D

HAVE FUN. what do you have to fear?....think about it...

do you have notes on the properties?

if you've got mortgages, quit claiming may be a very financially dangerous thing. check with your attorney first before doing any such thing.

also, why exactly do you want to do this NOW?

lastly, there has been SO MUCH WRITTEN ABOUT LLC vs S CORP - just check back in other threads, look it up online...visit some other websites to find info on benefits of these entities. :D

it's been written about extensively.

keep reading.

if you want to get something under contract, meet with the seller and TALK with them. get information.

take that info and write up a contract. they most likely will have their attorney review it BEFORE they sign anything.

each state is different, but you don't have to have a contract notarized, just signed by both parties creates a meeting of the minds. from there, whatever terms in the contract must be fulfilled.

in new york - binders are very common. they're like a pre-contract. from there, certain terms of the binder are agreed to, then a formal contract is written up by sellers attorney, then signed by both parties, IF they both agree to everything.

it doesn't sound like you're ready for this though. keep reading materials for new investors.......

cali, can you explain your deal a little more? thanks.

make sure you get to a few networking meetings in your area. doesn't necessarily have to be a real estate club either.

for now, focus on meeting new people at least 1 time a week. if you can't find the time, look harder.

if you have a mortgage on it - check to see if owner financing is okay.

due on sale clause stuff

one word - networking.

start here - it doesn't cost as much as all out advertising.