Account Closed
Your typical day as wholesaler?
12 May 2011 | 9 replies
You can check out the video I just posted on my Youtube channel; IEInvestor.
Mitch Kronowit
Funny real estate definitions
2 June 2011 | 12 replies
:D Real Estate Investor - Any of several unemployed individuals who spend the majority of their day painting and cleaning properties, staring at their computer monitors looking for deals, or talking on the phone to countless agents, contractors, lenders, etc. all for the express purpose of avoiding a "real" job.Tenant - A sub-group of life form that neither understands the basic fundamentals of cleanliness or operating a simple traditional stove top without causing over $500 worth of damage.Landlord - A multi-millionaire dollar narcissist who owns a phone that apparently never rings, an e-mail account that never receives, or a mailing address the post office never delivers to.Buy & Hold Investor (cash-flow) - A landlord who realizes after acquiring, rehabbing, and leasing several dozen properties, that he still doesn't have enough income to get off food stamps.Buy & Hold Investor (appreciation) - A speculator who holds onto his properties for several decades with the ultimate goal of making his great-grandchildren very wealthy.Note - Various discrete elements that make up music.Points - The sharp end of a nail or screw.Hard Money Lender - See "Loan Shark".Paint - An opaque viscous substance that exhibits the following properties, 1) costs far more than one would expect, 2) never looks the same on your wall as it did in the store, 3) covers half the area stated on the can, and 4) will only clean up with "soap and water" provided you add bleach, acetone, and sandpaper.Wholesaler - A mysterious sort of creature that makes large expensive purchases despite having no money whatsoever.Flipper - An overly dedicated individual who spends 2 to 3 months renovating property for a profit only to find they averaged $1.25 per hour.Motivated Seller - A rare and endangered species that has been hunted to near extinction by various investors, wholesalers, flippers, etc.Lender - An institution possessing a large quantity of capital not available to the public as there is more profit to be made in bank fees than mortgage interest.Asset Manager - An agent of the bank that couldn't tell the difference between a house and a shoe box.Foreclosure - The process a bank uses to seize a property from a homeowner and sell it for a loss rather than modify the loan and make a profit.Multiple Listing Service (MLS) - A large compilation of homes no longer available.Realtor - A member of an organization of real estate professionals open to several people who don't know anything about real estate.Bird-Dog - A motivated go-getter that performs 90% of a Realtor's services for 10% of the cost.Fixer-Upper - A term used to describe a house that only needs new paint, new carpet, a kitchen remodel, re-piping, re-wiring, several major structural repairs, and a foundation which requires a team of seismic engineers to fix.Turn-Key - A term that describes a "fixer-upper" (see above) that has been completely repaired and is available to an out-of-town investor for 20% above prevailing market rates.Contractor - A member of a special fraternity that shows up at your property to collect a check and at no other time.Appraiser - A professionally licensed individual with a tape measure, clip board, and camera who spends hours compiling a 30 page report telling you something you already know.Home Inspector - A guy with a ladder and flashlight who charges you $250 to inform you that you really need to speak to a licensed contractor (see above).Plumber - Somebody who gave up their medical practice in order to triple their earnings.Real Estate Guru - Somebody who gave up their plumbing business to triple their earnings.Bootcamp - A place would-be real estate investors go to part with the cash they could otherwise be using to purchase real estate.
Joshua Dorkin
We're looking for investors to interview via Skype for BiggerPockets
18 September 2011 | 80 replies
Is it that people don't have the tools (video camera, mic, skype) or that they don't want the visibility?
Joshua Dorkin
Are you a paying BiggerPockets PRO member? If not, what would convince you?
1 June 2011 | 60 replies
I think a lot of this will have to do with the type of BP member.For me being a commercial real estate broker I have massive technology I am already using for SEO.A friend of mine has his own technology company and is a broker in another state.He has sold billions of real estate.I have contact manager,posting to 50 social networking sites at once,videos,blogs,article content submissions,texting platform,unlimited websites and lead capture pages and on and on.The benefit to me with BP is to hook up with quality individuals.
Account Closed
convo with seller how did i go wrong?
23 May 2011 | 22 replies
John whether you realize it or not the delivery of what you are saying on the phone and pitch is just as important as the words themselves.You need to practice tone on the phone and video tape yourself giving a presentation in the house.I did this work years ago and now it is natural for me to talk on the phone and meet people in person.It flows now and is not forced.With anything in the beginning you will be really rough at it.Listen for key words on the phone for high motivation.Job loss,divorce,death,sick family,facing foreclosure,having babies and need more space,selling to free up capital,job transfer,getting married,executor of an estate,out of state investor etc.etc.Low motivation:1.Just seeing what the market will bear2.Waiting for my price 3.Need XXX to pay my bills4.Need larger house if I can get XX for thisand on and onEventually they might have life circumstances that change them to motivated but today they are not.Stay in contact because you never know.
Jim Stardust
Leverage, debt, and knowing when to stop?
25 May 2011 | 13 replies
I suggest taking a look at this video.
Bryan Hancock
The Wrong Financial Advisor
27 May 2011 | 4 replies
Originally posted by Mitch Kronowit:That's where the real "crack" is being smoked.Agreed...the video was not as harsh as it could have been :D
Matthew J. T.
How do I make Assignment of Contract?
4 April 2012 | 9 replies
I've watched videos, and read how you basically want to put it together, and what you would need. but how exactly would it look like?
Joel NA
what to do with tenant stuff
27 May 2011 | 8 replies
I agree with the advice to photograph everything that is left behind, with date stamp turned on in the camera.
Jacquelyn Swint
Real Estate Web Site
7 July 2011 | 11 replies
I will also need to be able to post videos and a flyer widget.