All Forum Posts by: Greg B.

@Duncan Taylor

Fair enough. That's why your the professional and I'm the newb. I appreciate the thread and not just leaving me hanging. I would still make an effort to get financing but letting them know all my options up front sounds like the way to go. The ethical way to go. Thanks

@Duncan Taylor

That's the thing. Even if I knew my exit was going to sell to an end buyer I would still get it under contract, call the local private money man to secure financing, not a guarantee. BUT as soon as I hang up with the private money I'm calling every Sub2, Cash, Lease Op, Buy/Hold , etc etc buyer I could think of to deal this puppy. That's my point of it not being a lie. If I could then I would buy.

Also, aren't there contingency clauses that allow you to drop out due to lack of financing? The seller would know there isn't a guarantee I would buy. I'm basically going by what all the "gurus" teach in their overpriced "courses". It's great to actually get better advice for free

@Chris K.

@Chris K.

I guess we look at things differently. Maybe you're definition of a buyer is more technical than mine. But that's why I'm here, to learn. Thanks for opening my eyes. I guess

@Duncan Taylor

Maybe I should have clarified my example. I was more interested in the showing how it wasn't a lie and not the scenario. I apologize for that. But i'm still lost on the me being unethical part by selling to an end buyer. Isn't that what wholesalers do? They put up we buy houses signs and direct mail. Callers call and they go out to see the house. Get it under contract and sell to a rehabber. I don't know. If I put a property under contract and there's a double close at the lawyers office, I'm pretty sure I bought the property. If I assign the contract for a fee the property was bought because I did the work. I guess its how you look at things.

@Duncan Taylor

You're going to have to help me understand this one. So by telling a seller I want to buy their house, agree to a price, get it under contract, then sell it to an investor, I'm performing an illegal act?

Its not a lie if you tell the seller you want to buy their house. You might not be the buyer but you're in the business of buying.

A buyer for a company goes out to but lumber to add an addition or whatever to the warehouse. Does he go to home depot and tell the associate, "Hey I'm not the one really buying this wood? The company i work for is buying this wood." No he says, "I'm looking for some boards to buy. Can you help ME out?" When he gets to the check out and pulls the corp card out no one is going to say, "Hey, hey, hey! Hold on there partner, you said YOU were buying this timber!!!"

It's the same thing here. You're a real estate investor. You're in the business of buying houses. You may not be in the position to buy but you Corp (investor network) is plenty capable. I'm a christian also. I see where you're coming from but like a lot have said. No one likes working with a liar.

Tell your sellers you buy houses. Not a lie because you really do want to buy houses. Look at yourself like that company buyer and you'll be fine. Besides you'll be buying you're own soon enough. Be easy and God bless

Thanks again for all the responses. This gives me more to think about and add to my future plans. You guys are PRICELESS!!!

Thanks a lot you guys. I'll look into it.

Good evening landlords:

Has anyone used home warranty companies on their rental properties? If so, what are your experiences and do you think they are worth what they claim to provide? Thanks! This site is the greatest!!!

I hear the term "skin in the game" a lot but what some think of as being invested might not be the same as someone else.

Some lenders will ignore a beginning investor if the investor only had like $1000 invested in a $150k deal. They will look at it as the newbie has nothing invested, nothing to lose. BUT this newbie who's working a low paying job and it took him 9 months to save that $1k. Too me he has a ton invested in the project. Simply because an individual might not have what others my consider skin he/she might be taking a big chance putting EVERYTHING into a deal and losing that minimal amount of cash is disastrous for some of us.

I'd fear going into a deal with a person with a ton of money who can handle a hit. No one likes to lose money but its easier to lose when you have more in reserves. Some newbies are simply looking for a break, that one opportunity to get started. It's necessary to have something in the deal, nothing should be free, but give us poor saps a shot. Ok, I'm done lol