All Forum Posts by: Rich Hupper

 I disclose to both parties I work as a facilitator and present the agency disclosure. I also disclose to the sellers I make money after the buyer renovates the property because they give me the listing, so there's no need for me to charge the seller. 

It still baffles me that some sellers want a sellers broker when I already have a buyer for their property, and they have their own attorney representation. 

 You could probably be right with this. Charge both sides a small fee and just act in the facilitator capacity I already do. 

I do disclose to the seller I make money when the final product is done that is why I am not charging a fee to either side. However perhaps some sellers feel a bit of comfort having a broker on "their side".

Hi fellow agents and brokers.

Most of my work is finding off market properties for myself or investors. When cold calling an off market decision maker I let them know I have a buyer for their property and ask if we can set up a time to see it. 

I do not ask for a fee from the buyer or the seller in order to keep the net high for the seller and the costs low for the buyer. Trying to keep things as simple as possible. In full disclosure to both parties I let them know I am compensated at the end when the final product is realized and brought to market.

If the deal comes together I always make sure the sellers have their own attorney in the mix to hold deposits and represent them on the sale.

What I am finding is sellers are hiring their own brokers and paying them commissions for doing next to nothing. 

If the seller has attorney counsel why would they feel compelled to pay a commission to a broker for doing nothing when I have already produced a ready willing and qualified buyer that can close quickly and keep the transaction very straight forward?

I had one seller inject a seller side broker and pay them 35k commission for doing nothing except holding deposits. 

What am I missing here?

I position myself as a facilitator for both parties. My investor buyers are fine with that. Perhaps the sellers are not?

Should I be looking for a fee from the buyers when a seller injects a broker into the deal, that does nothing?

Thank you

 This website is where I learned almost everything I know about lead generation, I primarily do cold calling or direct mail. I focus on quality not quantity. I dont call hundreds of leads a day or mail thousands of letters. Whenever I cold call someone I am cold calling the decision maker or someone close to the decision maker, who might be able to put me in touch with them. 

Understanding exactly who is the decision maker for property is not as simple as looking through the assessor records. You need to learn how to research title. Some states have most of the title records digitized available for the public others do not. 

To start you need money, Your money or someone elses. You also need the deal. If you are not finding good deals money wont find you.

If you earn a decent wage and are credit worthy you can start investing by house hacking a multi family with a low down payment mortgage.

If you have no money or credit your best best is start finding deals and bringing them to other investors who have money. You could whole sale these deals or you could broker them if you have a broker license. Or you could attempt to get on title with the investor as a partner in the deal. However if you are bringing no equity to the deal they might scoff at the idea.

The other thing you could do is find someone who trusts you who has money and wants to lend it. ( Private Money ). Find deals and use the private money to purchase  and flip them. If you do a good job and make the private lender happy they will want to do this again.

Then there's seller financing which you see a lot with businesses, and commercial property. Residential usually the sellers are not savvy enough to go this route and usually just want their check at closing.

In the end it all boils down to finding the deals.... thats not easy. Sometimes you need to follow up with a decision maker for years before they are ready to sell.

Are you okay cold calling people? You need to be. You need to be able to talk with strangers over the phone or in person to build rapport. 

Finding deals can be done numerous ways but I suggest you just start reading bigger pockets for a few months to start. Don't do anything but read bigger pockets. Then you can buy a few books if you want but most of the information is here.

There are thousands of people here who have shared libraries worth of information for free.

You can get a phd in real estate right here if you read all the forums.

Its interesting which countries have low birth rates and which countries do not. 

Real estate dealings is about picking up the phone and making connections with decision makers. Most of the time they are not ready to sell so put them on a follow up schedule. 90% of the time its about talking to them at the right time.

In my state after the court and estate nominate a personal representative to administer the estate the court issues them letters of authority. I was lead to believe this gave the PR the license to sell any assets and pay beneficiaries. 

Is this incorrect? Is there another document the personal representative needs from the court to sell assets?

Just got word from my accountant about this new legislation. I have several LLCs that I need to register with Fincen now. Are there big penalties for not registering?

Beneficial owners of my LLCs can all be found publicly on the secretary of state website so I don't understand why I need to register everything at Fincen.