All Forum Posts by: Account Closed

If you will remove the picture of the toilet from the pictures, the house will be sold in two weeks. If that doesn't work raise the commission to eight per cent. Instruct the Realtor to put the selling commission to four per cent to the selling office. Realtors will drag people to look at it. The house is beautiful. If it gets shown, It will get sold or you will get offers.

Lets see you could ask

Do you own this property free and clear?

How much interest did you want?

Do you need a down payment?

How did you come up with the price?

Do you have any other properties for sale?

Have you held mortgages before or is this your first adventure?

Have you ever rented this property?

What did it rent for?

Did you have a pleasant experience as a landlord?

Are you rich?

If you still own this property in six months , will you lower the price?

Do you care if I have good credit or not?

Have you ever foreclosed on a mortgage.?

How long have you owned this property?

How long have you had it for sale?

Have you had any offers?

How much are your taxes?

Are the taxes paid?

What is your best cash price?

It doesn't much matter what you ask. Just keep asking questions. Don't worry about looking foolish. No one is watching. Go find some houses that are not advertising for owner financing . How do you find those? Your second question right after "What is the price?" should be "Will you hold a mortgage"? Make that a habit and you will find reluctant landlords and heirs and divorcees and all kind of people that would be better off with a mortgage than a empty house.

Read my article right here on Bigger Pockets about why sellers should hold a mortgage. Good luck and keep asking questions You are on the right trail.

The above advice is the best advice you can find. Welcome to Bigger Pockets. Watch this interview on You Tube with the President of the Central Florida Realty Investors Assn http://www.youtube.com/watch?v=OiImXLLvpqo&feature=c4-overview&list=UUyBcLU3Ccx-ZxAyemcXWd1w Joining the CFRIA will put you in touch with the kind of people that you need to know.
Good luck investing.

Making a good living as a Realtor is really quite simple. First, you understansd that listing is where the money is . You build up an inventory of about fifty good saleable listings. That takes about a year of harrd work. If 20% of those listings sell every month, you should earn abot three thousand per transaction. That is about $20,000 per month. The hard part is learning to live on less than you make.

Don't pass this one up. This is too simple unless there is more to the story than you are telling us.

If the owner owns the property free and clear as you stated. Write your contract with you giving her $10,000 down payment. Don't pro rate the taxes. The $10,000 taxes will show up as a credit to you and a debit to the seller on the closing statement. Your down payment will show up as a debit to you on the closing statement. It will be off set by the taxes (credit to you) You will own the house with a mortgage balance of $10,000 less than you originally planned. You will owe $10,000 in taxes instead of the old seller owing ten thousand in taxes.

You will own the house. If the numbers don't work, lower the price by the $10,000 surprise (taxes). If the numbers don't work for you , they will not work for the next guy either.

I am not familiar with Pennsylvania. In Florida, you can owe taxes up to seven years. The taxes are superior to the sellers mortgage. After you own the property, you could take out a mortgage to pay the taxes and ask the seller (mortgagee) to suborndinate so you could get a first mortgage. Why would you want to?

Do not pass on this deal. You can make this work. Ask the seller to hold the mortgage with no payments and no interest for the first year while you pay off the taxes. You have a motivated seller.

Let's see.. You are about to be laid off. You have $100,000 in the bank. Here is a plan that is hard to beat.

Go to real estate school. Get a real estate license. Sell real estate for commission. You did not mention how much your income was at your old job, the one that is laying you off.

Whatever your old income was, set that as your first year goal to earn in commissions selling real estate. Find a Realtor that is already making that much and ask him what you would have to do to earn that much money selling real estate.

Put as much effort and learning into selling real estate as you did in your old job. It won't be long until you are earning the same income as before. You are you own boss,. You can not be laid off ever. You don't have to ask anyone what time to show up or how many hours to work. You find bargains that your fellow BPers only dream of finding.

When you find one of those bargains that you can't help but find that is too good to give to a stranger, buy it.

In five years, you will still have $100,000 in the bank. You will have a better career than your old one. You will have lots of real estate knowledge. You will have income. Life is always more pleasent with income. Take this opportunity to statrt this new career.

Dylan What are you doing for a living now? When I was 18, I was working for mimimum wage and I could not find a better job. You say you are willing to work day and night to be sucessful in real estate. What could you possibly do that would generate more cash flow than selling real estate? Get your real estate license.

If you started selling real estate for cash flow and you worked ten hours a day, you would earn $100,000 per year your second year. If you continue in your present job, how long will it take you to earn $100,000 per year?

Get Tom Hopkin's book,"How To Master The Art of Selling Real Estate". You also did not mention in your question if you have a large storehouse of cash. If you do, real estate investing is easier. Read Gary Keller's book,"The Millionaire Real Estate Agent". Read another book every week.

Get your real estate license. Start working day and night. Do that for about five years. Buy at least one house every one of those five years. You will be twenty three years old. You will know more about real estate than ninety per cent of your co workers.

Welcome to Bigger Pockets. A wonderful way to get started in real estate is to get your Florida real estate license.

You have time. Go to real estate school. Get your Florida real estate license. Start earning commissions. The most lucrative thing a Realtor can do is get listings. Looking for listings is also the best way to find bargains to buy for yourself to buy. Also, if your schdule does not allow you to be chained to a buyer all weekend, listing is lucrative.

As you start to earn commissions, you learn how things work. You learn about contracts. You learn about public records. You learn about mortgages. You learn about people.

Most importantly, you find super bargains. You may not be looking for a bargain but one just falls on your head while you are looking for a listing. When you find one, buy it.

If we can help, contact us.

Dustin I hope you can accept this in the manner that I intend it.
I used to work for a man that used the word irregardless all the time. Since there is no such word as irregardless, when you use such a word , it makes people around you perceive you as "not so smart". This is OK when you are joking around with your friends. In a business setting, it is not Ok . When you write, you need to be basically grammatically correct. This is a lot of lead time I guess I need to get to the point.

When you write, capitalize the word I. Also capitalize the word Realtor. Realtor is a proper noun. It is a copyrighted word like Kleenex. This is no big deal and I thought twice before I posted this. Please accept this in the spirit that I intended it.

Ask your Realtor why Realtor is a proper noun.

Cindy I am looking every day for that email that you have passed the state real estate exam. Welcome to Bigger Pockets.