All Forum Posts by: Tom McGiveron

3% for the listing side

then you offer 1.5% to the cooperating (buyer) side.

total 4.5%

how many buyer side agents are going to cooperate for 1.5%...some but a lot less than if it were 3%...

hence the 6% listing.

for all the time and effort that goes into getting a listing, doing the paperwork, marketing the listing - open houses, email contacts, follow ups, showings, ads in paper, net, etc. - THEN handling the closing process - dealing w/ underwriters, banks, insurances, inspections, etc...

3% - WITH A FULL SERVICE realtor is CHEAP!!!!

German - welcome - i pm'd you about the car flipping.

basically, what you're doing is perfect for now. listen to tapes in the car is good. get tapes on BUSINESS also. corporations and LLC's and the like and just basic good information on business terms, laws, etc.

as for investing itself - do you own your own home now?

a great way, i think, to start is to buy OWNER OCCUPANT. it's a LONG TERM type investment, but if you do it right, man the money can really build up. does it take longer? yes, but i work with two people (married) who do it and they move every 2.5 years. they got a little caught up in their last deal - live on long island and saw the appreciation fall out from under them...but they're NOT overextended on multiple projects/loans like some builders/flippers i know.

anyhow - heck you could buy the owner occupant for the long term - start a corp or LLC, manage it correctly (paperwork), then start "flipping" - only thing is RISK and how much you're willing to engage in it.

flipping cars is one thing - flipping houses is another - more liability, more issues to deal with in terms of FINANCING, etc.

sounds like you're on the right track though so far.

keep in touch!

what's the 20k going toward?

are you doing any MAJOR renovations? 20k is a lot for houses that are priced in the 60's...are you like putting in new plumbing or adding on?

variances, inspections - beware.

what do you do for a living now? (if you commented on this i missed it as i just browsed your posts)

one quick little tid bit - if you and your wife are comfortable with buying a home UNDER MARKET VALUE, living in it for TWO YEARS, fixing it up to make it very appealing to the masses of buyers, then selling it and doing it all over again every two years, this is a very good way of at least starting out. READ BUILDING WEALTH ONE HOUSE AT A TIME.

it's a good sound book.

why every two years? - read/ask questions and you'll find out.

why is a good way - because it presents with LESS RISK, lower interest rates (owner occupied) ARMS and provides you with a map of banking alot of money over the long haul.

it's just a consideration. it takes discipline and a good "partnership" based on understanding of the mission.

no more buying houses emotionally - it's business. again, just an idea to point out to you.

spark,

what are your plans for investing? you said rentals maybe flips...

what's your cash reserve looking like?

accordingly, you can be a realtor and run into someone who says they can close quick and "pay cash" and you find out that they can't at all and that they want you to fax out 100 offers a month for offering .45 cents on the dollar for properties.

agent beware.

basically, "creative financing" makes that whole schtick possible.

microsoft's answer to google maps - it's no secret, but i'm finding alot of people don't know about it.

www.local.live.com

WOW. check out the bird's eye view.

insane.

as a realtor, i'm using this bad boy all the time now. crazy.

enjoy.

you're talking about a contract with ASSIGNMENT RIGHTS - the right to assign the contract to someone else. you're not selling the property, you're selling the contract.

like REI said, you'd better have a good deal if you're looking to shop it fast.

i mean, either way, no matter what you're doing, make sure it's a good deal. :D

i found this topic/thread very enlightening.

the new TREMENDOUS emerging market is foreclosures.

shorts, etc.