All Forum Posts by: Tyler Bobo

Investing isn’t a real sport... so... golf? 😂

Earnest money deposit laws (and customs) will vary by area but generally required. If there is no “consideration” it isn’t even a legal contract here. The consideration doesn’t always have to be money but it almost always is. 
If your agent didn’t explain how it works exactly in your area, what the norms are and why he suggests $5,000 then I would just tell him that. As a Realtor I definitely want my clients to know how that works.

     That’s a larger deposit than norm for that price in our market but every market is different. If it’s a hot property we offer more earnest money to show we are more serious. A cash offer with a low earnest money might make them wonder if you actually have the cash, and how serious you are if you’re not willing to put more up.

     Your Realtor should explain how you might lose your deposit, and how he’s going to keep that from happening.

Our market here in Alaska (Wasilla area within an hour of Anchorage) is a super hot sellers market. Not the hottest market in the country but hotter maybe than it’s ever been here. And from networking with other Realtors around the country it seems most areas are a sellers market, though there are always exceptions.

Left my w2 at 30 but moved into 1099 as a Realtor. Had been investing about 10 years. That’s when I went full time though but more as a Realtor. Probably about 3 more years (until like last year, I’m 34 now) until I could’ve quit selling and just managed my investments but I enjoy it and they work good together, so I’m still working full time. 

I’m 34. Started at 20 with a mobile home. I have 39 investments currently, more owner finance notes than anything, a new build I’m doing, 7 rental properties (single family, mobile home, and one 3 unit small commercial), some vacant land for building, and some for long term hold lakefront acreage I might put a rental or two on. Did about half that while working more than full time and now my day job is as a Realtor. 
Looking into more new construction and land subdividing because it’s fun. And more rentals because of the tax advantages.

I'm an Realtor (about 50 transactions a year) and investor (about 50 personal local deals) here in Wasilla, and work with a lot of investors.  Reach out anytime. 
It won't let me put my phone number but I'll try messaging you. Thanks.

Yes if you’re willing to put the deal under contract you can wholesale it. Or, if you have a lot of these, enough to make it worth it, you can get your license and either list some of these as commission or just refer them to other licensed agents to get a commission. 
There’s pros and cons to both having your license and not having it depending on the state and local rules. I was an investor first and got my license to start dabbling and getting commissions on the side and now I’ve been full time for years. There’s plenty of articles and forum posts about the pros and cons of being an agent but I think they compliment each other well, or at least it works well for me and helped me get away from my day job sooner.

Holly crap, are you removing that kitchen and bath?  They look pretty fantastic to me?  Maybe I’m low maintenance but I’d be afraid of owning a kitchen that nice😂.

     I used to save a lot of stuff, and still have a lot of it in a storage container in my back yard. We started with really low end properties and mobile homes so if it wasn’t broken we would save it and reinstall. At this point though I’m tired of storing junk and it’s so much easier to install new and matching things, especially when the property values are higher. So my answer is, if it’s qualify enough that it’s worth the time to reinstall somewhere then yeah, keep it, but like the other fellow said about the toilets, too cheap and so much over to install a new one that I wouldn’t save a used toilet. 

Listening to an older podcast, around the 250's number, Josh mentioned being able to post for free in the classified section here on Bigger Pockets.  Did I misunderstand that, or did they quit doing that, or how do I do that?  Thanks!
Tyler

@Ron Singh  There are always great people to invest with through notes, or you can invest with syndicators for good returns as well.  Attend local meetups and find people looking for capital.  So many good investors are always looking for capital.  Then vet them and ask for references and look at the deal yourself before putting money in.  This will teach you to recognize good stuff so you can do deals yourself later if you wish.