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All Forum Posts by: Ralph C.

Ralph C. has started 2 posts and replied 224 times.

Post: Submitting Offers as an Agent

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Account Closed:

Good afternoon, everyone. I'm a new RE agent in the KCMO. market, and was interested in making offers on properties to get potential wholesale deals through the MLS. Is there a limit on how many offers that I can make in a set day?

If multiple offers get accepted, and if I can't find a buyer, is there a way to not be held liable for those offers?  

 No limit to how many offers you can make in a day (as long as you're referring to different properties)

The way to not be held liable on an accepted offer is not to make an offer you will not honor.

Post: Getting my real estate license

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Justin Wren:

Well this isn't really a success story..... yet.
I've been working in the aviation industry for 15 years now. It's really amazing how I've basically spent the entire time living paycheck to paycheck, excited to get a $1 hr raise nearly every year, thinking "ok, that extra $1 is pretty good", only to not change much except the amount of stuff I own.
I got interested in real estate about 10 years ago but didn't really take it to far. About a year ago I decided I was done with the extra $1 raise every year and waking up at 4:45am to get ready for a job I didn't want to go into anyway.
Started listening to the podcast, started reading the books......... and just sat down for the first night of the Georgia Salesperson precourse to get started getting my real estate license. No turning back now.
Thanks BP

 Congrats on making the jump and change to something new.

Fall forward.

Post: Appraisal for owner financing

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Toby Rachel:

Hello BP friends.

We have found a buyer for our home and will be providing the financing. The buyer would like an appraisal. Any recommendations on who to hire? We are in Snellville Georgia near Brookwood HS. Thanks! 

PS any other advice is always welcom

Why dont you allow the buyer to select an appraiser on their own? This way it avoids conflict if you get one.

Post: Marketing Huge House Near Biz's as Commercial

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Austin Hughes:

I've got a massive, 3,400 square foot house that is right next door to a car wash, corner store, and a newly redeveloped highway (construction almost complete).

It's got 2 bathrooms, 5 bedrooms, 2 living rooms, laundry room, and extra room (used to be single garage).  It is not finished out completely, which lends itself to someone who would come in and do a build-out and make it suit their own business needs!

I'm thinking maybe a small nursing home/elder care community, STORAGE (who knows)...maybe a doggy daycare? I have no clue. IT could be many things.

How might I go about marketing this to a potential buyer or renter?

 First, let's stArt with the zoning classification for this property....

Do you know what it is?

Post: If You Could Do It All Over Again with $100k

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Eliot M.:

If you had $100k to invest, and knowing what you know now, how would you go about investing it? Would you max out your 10 mortgage limit and buy numerous smaller properties that cash flow, or would you go big and plop that $100k as a deposit on a beach condo or apartment complex? Would you use debt? Would you not? Would you start a direct mail biz? Or knowing what you know now, would you even be in real estate at all? Would you open a restaurant franchise or go after storage unit businesses, dry cleaners, etc?

 Storage facility, mf and dry cleaners. 

Post: Illegal Wholesaling in Georgia

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Raven M.:

I need an expert's advice on the matter of wholesaling. Particularly in the state of Georgia. I'm still a novice attempting to grasp these concepts...As a wholesaler, when you assign or sell a contract to an interested buyer, (and are not principle in the transaction) should you require a license? Also if you as a wholesaler never introduce a broker, title company/or closing attorney into the deal, (or you attempt to act as a broker yourself) should this be cause for alarm as a buyer? (Especially if the wholesaler does't present a broker's license?) Or is it the buyer's job to introduce a title company, broker etc?

Lastly, where can I find the laws pertaining to wholesaling in the state of Georgia?

 If you're assigning a contract you need to be open and upfront with all parties, besides the buyer has to sign the assignment anyway so they will know what You are doing anyway.

You should already have a trusted attorney that you have used before do the closing and just have the end buyer deposit the em with them. 

If investor/buyer wants to use their own attorney that is fine as well since ultimately it really doesn't matter and buyer always pays for all closing costs.

Post: Duplex triplex and or apartment complex to buy

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Gregory Thompson:

http://www.realtor.com/realestateandhomes-detail/1984-Todd-Cv-A_Biloxi_MS_39531_M87608-25080
This is basically the purchase I would admire. Numbers and size

 Any luck?

Post: Storage facility process

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Gregory Thompson:

There's not many forums on investing in storage units. So I would like to start one with the little knowledge I have. I'm active duty navy and I get out honorably in 9 months. I am most definitely investing in my own facility. Wether it's buying land and building or taking over a previously owned facility. Curious on how once the purchase or construction is done, how rough is it starting off considering vacancy? Would like to hear the start up process. I know advertisement as well as marketing comes into play. But just would like to know the start up process once completed. As well as like the monthly payments on the loan. I know y'all would have to see numbers and such forth. But an example of yalls facility numbers would help out a lot to be used as an example.
Greg Thompson

 I've been personally involved with the actual development of a storage facility from the ground up and it was funded with a bank loan doing draws throughout the entire process.  

Once completed and ready for business, You should count on 6 months to 1 year of working capital to cover overhead till the facility starts getting it's occupancy up and can cover its own.

Yes, it does depend on wether or not you will have a property manager on site throughout the ramp up stage so that's an extra factor to consider. 

Other option is without one but then again it just depends on which storage model and size you go with going in.

Post: Out of State Owner - Craigslist

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Kenneth James:

Right. Its not so much the name of the owner. I use the county assessors office no problem. But anyone can post a craigslist posting, say they're John Doe, claim to be the owner of a property/great deal and request a EMD or application fee.

Maybe I'm overthinking this. I didn't have a problem with out of state owner up to this point.

 Well I guess if you are ultimately buying it and actually closing there shouldn't be any issues cause of course you would close  and drop your emd with an attorney and obviously not with the owner directly..

Post: Out of State Owner - Craigslist

Ralph C.Posted
  • Real Estate investor professional
  • Suwanee, GA
  • Posts 233
  • Votes 81
Originally posted by @Kenneth James:

Hello all,

I hope all is well. 

So here's the scenario.....

I conduct a lot of out-of-state rent to own and wholesale deals. I also review Craigslist for possible deals. Recently, I reached out to two "home owners" looking to rent their property in my local area. So I give them a call and both are out of state. Short story long, both "scream scam" (can you say that three time fast?). This is the first time I've experience this, but I'm sure there's plenty of scams out there. But it got me to thinkin' with my cyber security hat on.....

How does one properly identify out of state owners. And further, in a way that it doesn't offend or scare the seller away but also provides you with the peace of mind you need.   

 As mentioned by @Andrew johnson, best place for you to start is by going to the local county property assessors site, search by address and you should get the property ownership info.