Is It Time To Get My Real Estate License?

Saturday, October 15

Yes! I have decided to take the plunge and get my real estate license.

For several years I've been buying and selling real estate as an investor. I have assigned multiple purchase contracts to other investors. I've worked with several agents and other real estate professionals along the way.

I've avoided getting my license simply because my primary business is investing. Many of my investor friends started out like me but then eventually decided to get their real estate license.

Investing in Real Estate

Like my investor friends who have become agents, I plan on keeping the investment side of the business my primary focus. And being a licensed agent will give me some extra opportunities I have to pass up now because I'm not licensed.

Real Estate Investing Has Prepared Me to Get My License

Over the years I have done many things in my real estate investment business which has prepared me to be an investor / agent:

Property Valuation - I evaluate comps like a nerd! I analyze data on a potential investment property before I buy. The process of placing an accurate value on a property that I am going to buy for investment purposes gives me great insight into the market conditions. I think the way I do property valuation is more like an appraiser than an agent, which I think will come in handy when I have a client that needs a more thorough analysis than comps usually provide.

Home Inspection - I've learned to inspect homes thoroughly. I can see what repairs need to be made in distressed houses to bring them up to full retail market value. I go up into attics, on roofs, and under crawl spaces to find anything that may need to be repaired on a house. I have purchased houses with structural problems and fire damage. I have the capability to help clients who may want some factual information about the property condition before they decide to put in an offer and bear the expense of hiring a professional home inspector.

Home Renovation Contractors Expenses - What does it cost to make repairs on a property? When I first got started investing in real estate, I didn't know much about the costs of home renovation. Now I have experience fully renovating distressed real estate. I am actively doing this as an investor, therefore I know what the actual real-world costs are to make various kinds of repairs and updates on a house. I work with investor friendly contractors who I can recommend to my clients. With all the distressed foreclosures on the market, my connections to good contractors is a powerful tool to assist clients.

Investor Network - I have a cash buyer list of investors who I've done deals with over the years. Whenever I get a great potential investment property listed, I have buyers I can market to right away. This is a good thing!

Lenders - I have worked with many types of lenders. Many lenders will not lend on the types of properties I find. This has forced me to find lenders who have the capability of providing funding in today's market which is flooded with distressed properties. Mortgage lenders, hard money lenders, and private money lenders in my network are all eager to loan money for clients to purchase distressed real estate.

Now that I have finally made the decision to get my license, I plan on studying hard and getting it done as quickly as possible. I'm going to enroll in my course on Monday.

And I plan on blogging about my learning experience.

Any advice is welcome and please wish me luck please!

Assignment of Contract is Easy

Monday, October 03

Assignment of Contract is simple and easy.

I posted a YouTube video explaining Assignment of Contract for wholesalers.

5 Reasons why you should consider selling your vacant house now.

Sunday, September 25

5 Reasons why you should consider selling your vacant house now.

Property Tax Expense

You must continue to pay property tax on your vacant house. If you choose to ignore the property tax bill, a tax lien will be placed on the property which must be paid in full when you sell the property later.

Insurance Expense / Loss of Coverage / Liability

You should have insurance on the property to cover damage and liability. This is a recurring expense. By the way, if your vacant house has been unoccupied for over 30 days, it may no longer be covered by homeowners insurance if it gets damaged. Contact your insurance company and inform them your property is vacant and you want the house to be properly insured as an unoccupied house.

Utilities Expense

Your vacant house will suffer damage if it is not properly heated during the winter months. For example, pipes can crack if the temperature drops below the freezing point.

Vandalism

Your vacant house may become a target for vandalism. It is common to see broken windows on vacant houses. Thieves like to steal the outside air conditioner unit. They may decided to break into the house and steal building materials. Copper pipes are a favorite item for thieves. Additionally, those who break into  your vacant house may decide to cause damage just to get a thrill, such as kicking holes in the walls and doors or  breaking counter tops and shelving units.

Vacant Houses Lose Value

Your vacant house is losing value. In addition to the expenses of owning the house (taxes, insurance, and utilities), your vacant house loses value every day. It is a liability draining you of money now and will fetch you a lower price the longer you wait to sell. The structure is deteriorating every day. How likely is it that housing prices will suddenly take a sharp upward turn so that the value of your house increases faster than the value it is losing every day it sits vacant?

Northern Virginia Real Estate Investors: Let's Connect

Saturday, September 24

Local Northern Virginia Real Estate Investors

I am a real estate investor in Northern Virginia.

You have probably seen websites and marketing material from investment companies who don't really tell you who they are. Even their "about us" section doesn't say much.

Well I am John Marion and my company is based in Manassas, VA.

The name of my Northern Virginia investment business is Manassas House Deals. The website is ManassasHouseDeals.com.

Investors

If you are a local real estate investor in Northern Virginia who is buying, selling, and wholesaling properties, please connect with me!

The best way for you as an investor to connect with me so that we can keep in touch is to fill out my investors form:

http://www.ManassasHouseDeals.com/investors

We Buy Houses in North Metro Atlanta

Sunday, September 18

Alpha Dog Investments LLC is looking for
Owners of Distressed Houses in
North Metro Atlanta
(Cobb County, Cherokee County, North Fulton County)

We are real estate investors

We Want to BUY Your Problem Property

old, worn out house
outdated
needs remodeling
needs extensive repairs
structural damage
fire damage
leaking roof
vacant, neglected

Is Your House Causing You Financial Stress? We can help!

property tax payments
costly repairs
high mortgage
behind in mortgage payments
facing foreclosure
short sale negotiation with your bank

Isn't it TIME for You to Stop to Your Real Estate Nightmare?

Call Our Hotline

404-419-6918

Or FILL OUT our ONLINE FORM by clicking here NOW

Alpha Dog Investments LLC is owned and operated by Sandra Watkins and John Marion

Sandra Watkins is a licensed Real Estate Broker with over 12
years experience in investor, residential, and new home sales.
Sandra is also the owner and Broker for Georgia Realty Group, a
property management company and Associate Broker for RE/MAX
Town & Country. Google ME!

John Marion is a successful real estate investor who finds,
inspects and renovates investment property. John specializes in
structuring transactions with other investors and provides
thorough analysis of every transaction prior to purchase.

Alpha Dog Investments LLC
1353 Riverstone Pkwy #120-228
Canton, GA 30114

404-419-6918
www.AlphaDogInvestments.com

Is the NVAR Regional Sales Contract assignable?

Friday, September 09

Is the NVAR Regional Sales Contract assignable?

Real estate agents and investors ask, is the purchase contract used for real estate transactions in Northern Virginia assignable to another buyer?

You may have heard agents tell you that the contract cannot be assigned. Let me share a story with you.

Recently a new investor doing business in Northern Virginia contacted me about assigning contracts. In his quest for getting his business up and running, he is wisely consulting with and networking with other professionals who have been in the business for a while.

One of this investors long term friends has made a career as a licensed real estate agent who is also a Realtor®. Not all real estate agents are REALTORS®. To earn the title of REALTOR®, a licensed real estate agent must pass the rigorous standards set by the National Association of REALTORS®.

The investor in my story reports his friend saying that no REALTOR® would take part in assigning a contract. Since the contract cannot be assigned, according to the REALTOR®, he could lose his real estate license if he were to partake having the purchase contract assigned to another buyer.

This story is not uncommon. Many investors report similar reactions by real estate agents when it comes to doing an assignment of contract.

For more information, let’s take a look at the purchase contract used in Northern Virginia.

This Contract may not be assigned without the written consent of Purchaser and Seller. If Purchaser and Seller agree in writing to an assignment of this Contract, the original parties to this Contract remain obligated hereunder until Settlement.

Ok, let me re-read it just to make sure I understand.

“This Contract may not be assigned without the written consent of Purchaser and Seller.”

I think this means that both the Purchaser and the Seller must agree that the contract may be assigned in order for the buyer to assign it to another buyer. And their agreement has to be in writing.

Ok, I got it. Now the next sentence.

“If Purchaser and Seller agree in writing to an assignment of this Contract, the original parties to this Contract remain obligated hereunder until Settlement.”

I think this is saying that the original buyer can’t escape their obligation to perform under the terms of the contract, even if the original buyer assigns it to another buyer.

Ok, I think I understand now.

Is the NVAR Regional Sales Contract assignable? The answer is yes!

I have assigned the contract more than one time and I’ve even done it on a Short Sale subject to bank approval, something that many people tell me can’t be done. But that is another story.

John Marion is an investor working in Northern Virginia and North Metro Atlanta.
http://www.johnmarion.com