All Forum Posts by: RJ Reynolds

As a licensed agent, you should be aware of the Agency disclosure laws in your state and make sure to follow them. Here in MA, people I talk to about real estate have to sign a disclosure form I provide & explain. That is only to prove that I fully explained who I represent.

Anyway, back to your situation, I don't know if Texas would have any such requirement .. I can't imagine any state does.  To my knowledge, no one is ever required to have an agent.

Side note: there is a difference between a REALTOR(R) and a licensed agent. You must be licensed to join the National Association of REALTORS(R) however you do not have to be a REALTOR(R) to act as a licensed agent.

If I've learned this right... your credit doesn't matter if you negotiate the right deal the lender/investors will jump in.  Jump in on some of the webinars held here and i if your PRO user put together reports on the properties of interest so that you become expert at creating the proper presentation a lender will want to see about the deal.  That's where I'm at right now. I'm an experienced agent but not an experienced investor.

So, step 1 attend the webinar(s) typically held on Wednesday evening.

Step 2, play with the tools provided on BP that help with evluating the deals for various strategies.

Step 3 keep active on the . boards, asking questions and getting help.

Why not use the Equity Line you used before?

Just curious, not the expert at this aspect of deals. Can't wait to hear what others have to say.

You may have walked in on a gold mine! I"m a newer investor so I'll let others flesh this out with you more fully but can't wait to hear what happens!

Tread carefully and consult an attorney if necessary. you probably can't refuse her just because she has kids and could get in trouble and I'm not experienced enough myself to tell you how to say no in a way that doesn't get you in trouble.  I do believe it's as simple as "No" with no explanation but again, as soon as you start to talk about how she has kids.. it could become a situation where she feels discriminated against for having kids.

Unless it's a big place square foot wise. I probably wouldn't rent to FOUR people with one bedroom.

No you do not have to use a REALTOR(R) and while the seller likely does not have one at this time if it's off market, it's possible they do.  If they do, simply negotiate through that agent instead of directly. Like I said, it's unlikely.

I'm speaking from Massachusetts and believe the same would be true anywhere.

All of that said.. if you are not an experienced negotiator, find an agent who is and hire them. It'll be worth it.

Direct and to the point, YES you should have an account for the property.

With regards to the low # of condo's in the area, as a buyer agent (sometimes) what I might suggest is to have your listing agent pull a list of buyers looking for single family homes in that area and contact those buyer agents.  They may only be seeing Single Families in their search results which isn't helping you at all.  SF buyers who find the right condo just might jump at the chance.

How to pull that list? It takes some creative work with MLS but your agent should be able to. If they can't.. reach out and I"ll try and walk the agent through it.

A quick call to each buyers agent to say.. did your clients see xxx or would your clients consider a condo with these amenities.

These are things many listing agents don't do in markets where listings sell quickly, because they don't have to. 

Given that it's off market and the agent is not getting back to you with answers and you are not an agent, you can certainly reach out to the owner. While I'm making some guesses here, I'm assuming the agent has no current active contract with the owner. Even if he does, that's between the owner and the agent.

I'd say go forth and communicate with the property owner. 

and I still think the agent could use a heads up that he dropped the ball if he wants to work with you in the future.

If it is listed in MLS AND you are an agent, you can't go to the owner directly but it sounds like you're not. You could hire a buyer agent contract and all but it's a bit muddy because you've spoken to the presumably listing agent. That doesn't make the agent the 'procuring cause' of your interest in buying as you stated that came first but... as an agent, if I was screwing up by not staying in touch properly even if I didn't the answers yet, I'd appreciate a heads up that you need to hear back asap.

Send. text and/or email if you don't like calling, we all appreciate a good "hey stupid!" as long as it's done with care <grin>