All Forum Posts by: Susan Maneck

Quote from @Zach Rumfield:

This particular property might make for a good house for professors or staff at Delta State if anyone has connections to that school. Its a big house and I dont see if being a student housing rental. But I dont know that market and could be wrong about that. 

I think most of the students at those two colleges are commuters anyhow. It's an impoverished area.  

Well, there are two colleges nearby, Delta State and Mississippi Valley but they are about the poorest 4-year public universities in the state and most of the people that go to them are from the Delta. 

Your are telling people to discriminate against tenants who happen to use a common regional expression; one especially common with African-Americans. I think there are laws against that. 

Here's the difference, you assume that if people are poor they are bad. 

One can see that's your attitude, which means you are only exploiting these people not serving them. No wonder they feel no hesitation in cheating you! 

Some people who live in Cleveland are from the South. 

In Mississippi people end their voice mail messages with "Have a blessed day." It means nothing other than they are likely Christians. 

Now "bless your heart," that's a bit sarcastic. If I asked someone when they are going to pay me what they owe and they answered "bless your heart" it means never. But I've never had a tenant say that to me. 

Tenants are our clientele, not our enemies. 

Wow, talk about ethnic prejudice. 

"Have a blessed day" simply means they live in the South! 

  Some percentage, maybe 20 -25 % are “liars, scammers, predators”. Some, maybe another 20 -25% are honest and ethical.  The other 50% just don’t understand real estate law, real estate principles, real estate finance, and real estate agency.  They have no clue what they’re doing. 

That's been my observation. They are often young people who have been sold a line that this is where you start in real estate if you have no money.  Unfortunately that typically means no knowledge or experience as well. There is no such thing as starting with no money. IMO the place for a young person to start is house hacking. They'll get lots of experience that way. 

Ashley, if you are still a naval spouse, I would suggest the next time you are relocated that you consider buying a house via a VA loan wherever you end up stationed (excluding San Diego because it is too expensive) and do this every time you move. As a real estate agent you will be in a position to find good property managers for when you leave. You could build up quite a portfolio by the time your husband is ready to retire without having put anything down.

They are basically selling real estate without a license and making contracts to buy properties they don't have the means to close on. Usually they don't disclose this. I have bought one property in Mississippi through a wholesaler. It was a property that could not be financed because it had a second unpermitted house on the land. Mississippi doesn't much care about such matters but lenders do. In this case the original owner, the wholesaler and myself all knew what was going on, so there was no deception involved. 

There was another property in Mississippi I was trying to buy that was listed on MLS but someone made an offer that was accepted before I could make one. Soon afterwards a guy was trying to wholesale it on Facebook (not legal, btw.) Usually when wholesalers can't find a buyer before the close, they will try and get an extension. Knowing this I had my real estate agent contact the seller's agent, let them know the situation and then made a back-up offer asking for only 15 days to close on a cash deal. When the wholesaler failed to close, I got the property.