All Forum Posts by: Stan Hill

 "Transaction agent"... My BS detector is going off. As I understand it, a real estate agent represents buyers and/or sellers- not "transactions". Tell the agent to take a hike.

We bought an SFR with rear apartment. Both buildings were pier and beam. Both foundations were visibly unravel. Conventional loan was approved. Yours appears to be block and beam.as long as it's up to code in your area, you should be fine.

 The bank could demand payment in full based on the loan due upon sale clause.

DFW suburbs.

 Thanks for the info, Jay. My experience with wholesalers is very limited. The closest I've come to one is a friend's brother who would get properties under contract, including "and/or its assigns", for $100 EM. $5,000? Even better.

"And/or assigns" = doesn't have any money. If I were ever to deal with a wholesaler, I would separate the men from the boys with a $1,000 earnest money clause.

How long will it take you to save up $18,000 to do an actual deal? And how do you know they own 183 properties? If they do, they should be happy to provide you with the tax roll information on said properties.

Earlier this year, we had a property for lease. I was suspicious of a particular applicant. I called  her rental reference. I asked the reference if she was the owner and asked for the address of the property the tenant said she lived at. The *reference* said she had so many rentals, she wasn't sure. I even threw her a bone and gave the address number, not the street. She still couldn't produce an address. It could be that she really did own that many properties, but my gut was telling me this was a bogus reference. For that and other reasons, I chose not to rent to this person.

But... it got me to thinking about this more. Anyone can put any phone number for a reference. I decided to update the process. I will ask the reference I'm calling the address, reference's name and whether they are the owner. If they say they are, I will look them up on the county tax records to see if in fact they are. 

Any additional thoughts on verifying rental references will be greatly appreciated!

 Excellent, Brandon. When I read the original post, the first thing I thought about was what the foreclosure process is in that state. Seems to me that's a significant part of the decision calculus.

I think it depends on your personality. Some people want or need that personal interaction. I pretty much agree with @Caleb Heimsoth. I think you can get all of the information in that training here on BP and by reading books. IMHO, you would be better served going that route and putting that $18,000 into a deal.

That said, I've read posts from many BPers that were satisfied with the money they spent on training. I don't think there's any wrong or right answer- unless you find the $18,000 wasn't worth it.

Oh and I would add that the name of the program is a bit deceiving. Mastery will not come from any training program, but from doing actual deals.