All Forum Posts by: Richard Allen

@James De Silva I would encourage you to use a wholesaler if the deal is right.  I have a little over a decade of experience wholesaling houses and have had a handful of customers for nearly that entire time.  

This is a relationship business from top to bottom. A wholesaler will have relationships with many buyers, but will also have relationships with many real estate agents as well. As a licensed real estate broker I buy multiple properties off the MLS that are really good deals (65% of market value) and never have submitted an offer, they are brought to me by other agents because they know if I give them a price and they get it to me at that price, the deal will close.

The fact is that wholesalers may only have 4 or 5 deals to pick from at a given time, but if the wholesaler is good, then the deals they have will be solid.  The benefit to buying from a wholesaler is that the price should be set and ready to go, if you like the house, you give them downpayment and sign the contract, you are done if you agree to the terms.   

Real estate agents can be a great source of properties and certainly can put you in front of more houses than a wholesaler can.  But you will need to do the narrowing and start the negotiations with the seller through your agent. 

At the end of the day @Stanley Okazaki is right, be patient and try to build a relationship with a wholesaler.  

I have an off market REO for sale. The house needs work, comps look like $140,000 to $150,000 and the house needs $25,000.00. Assignable contract is ok. Let me know if you are buying or if you have a buyer. I have other off market REOs in other cities and states. Also have some notes if anyone likes that side of investing.

Contact me with any questions. 

Thanks for reading and make it a great day

(sorry if this violates any rules, just joined the site yesterday, any feedback would be greatly appreciated and I will fix anything that I posted that is taboo for the marketplace)

Thank @Account Closed , I haven't been out to Streamsong yet, I hear both the red and blue courses are awesome.  Have you played there?  

@Larry Fried Thanks for the welcome. Living proof that you dont need to own property right in your back yard.  I haven't purchased anything out that way just yet, but i am looking for a reason to get out to Bandon Dunes, so I may need to come see some real estate in Oregon.  My wife and I have, and still are considering, moving our family to Bend.OR.  

We have 3 assets right now in Jacksonville, One REO and 2 Notes. Jacksonville has been very kind to us thus far.

Thanks for reaching out. 

Try adding these words to your next contract in the notes section "buyer may take title to property and land trust". If you take title to the property in a land trust, you can assign the beneficial interest and avoid the double closing fee.

@AdaPia DErrico I would imagine in the coming months and certainly heading into the 16 election year, we will see regulation written that addresses marketing criteria along with regulations that will outline some minimum requirements to operate a Crowd Funding Platform.   The rate that sites are opening can lead to some nefarious individuals ruining the space before it ever has a chance to grow. 

Hopefully there won't be over regulation that would have a negative impact, restricting the flow of investment capital.

I think the most important thing is to figure out if you're going to be delivering these the automation. All of the above mentioned electronics signatures are great. We use echo sign by Adobe, because it matches up with zapier, who we use for automation. I highly recommend using a website like zapier or sweet process to do your automation. Very easy to use, and their API's work with a lot of different websites.

Crowdfunding is certainly is the future of funding Real Estate deals, but how long till the regulations roll out.  It is the wild west right now (as it always is with new product) and some people are going to get burned.

Make sure you read the fine print on the paperwork if you are investing in a crowdfunding portal.  There are several reputable ones out there, and the experience can be a positive. Like any new investment, take caution.

I have some experience with @Joe McCall on the time management side of things.  I can't speak about doing real estate business with him other than I know he does a lot of business and is very knowledgeable. 

If you have a chance to work with him with regards to hiring VA's and and streamlining you business, I would highly recommend doing so, it will be worth your time and money.

@Jeremy Tillotson thats good to hear, life is good when the markets are strong.