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13 January 2025 | 1 reply
My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.
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7 January 2025 | 28 replies
I do the same for my LTRs, tenants have to get their own utility accounts and they are fully responsible.
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10 January 2025 | 3 replies
Quote from @Rick Ilich: Thank you very much for the quick response!
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23 January 2025 | 9 replies
Quote from @Chris Magistrado:The point he's making is that the agent must take responsibility for building and maintaining their business, and the Broker won't play much of a role.
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7 January 2025 | 3 replies
I know this is a differing topic on the forums, and online in general, but having the legal background/education and knowing estate planning concepts you'll realize it shouldn't be.
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3 January 2025 | 14 replies
I am the owner of DealMachine and take personal responsibility for making sure we communicate clearly and have issued a refund to you (the initial charge was April 2023 and it is 2025 now... sorry it took so long to see this).Direct mail is a hard cost, so when you send out direct mail, you get the first 20 free during the free trial.
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9 January 2025 | 46 replies
Each time the response was “Unfortunately I cannot provide an exact estimate at this time for the date of completion”.
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14 January 2025 | 4 replies
I think your questions are a bit to general and you are going to get even more general responses.
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13 January 2025 | 12 replies
Looking forward to the responses on this!