All Forum Posts by: Brad Bellstedt

If you have the time available to you to learn the material to take and pass the test as well as how to complete the contracts and how to execute the transaction, spending a couple of thousand dollars to get your license and have access to the MLS will be the best couple of thousand dollars you ever spent. Between the time saved and the commissions earned (or saved depending on how you structure your deals) your license will pay for itself on the first transaction. Good luck out there!

@Aleejandro Dela Vega Sounds like a smart move if you can gain some type of competitive advantage. I hope that goes well for you. If there's anything I can do to help when the time comes, I'd be happy to. 

@Aleejandro Dela Vega Wow! Quite impressive! I admire what you've done there. What's the plan for after you've liquidated? Leaving the state or just holding tight for a while?

Biggerpockets.com/meet and search.

Facebook groups and private messaging

tax information (who bought in cash, who bought with an LLC, who bought distressed properties, etc.)

REIA meetings (Huge)

Posting questions to the forums

Real estate based meetup groups

Real estate anchored networking events

I'm sure there are more but that should give you a healthy start. 

I have no idea about whether this is legal or not but it sounds like you are selling your position/assigning your right to purchase back to the seller who has the ability to buy this position from you just like any other buyer. It's a little odd but if the seller is willing to basically wholesale their own house back to you, I can't see why a judge would stop them from doing so. Of course, you should ask a real estate specific lawyer familiar with your state's laws but from what you laid out here, I see nothing illegal. It's basically a cancellation fee if you want to look at it that way. Maybe something to write into your contract for next time. 

I have heard the same on other forum posts but with those kind of financials and a signed lease (with paying tenants) I don't think you'll have much of an issue. That kind of borrower profile is what keeps everything moving and pulls us through the hard times. The banks might be looking for YOU right now. 

No. You would need to sign what we call in Nevada a "Buyer's Brokerage Agreement." If you haven't signed anything, you are not bound to them BUT if you are to see a house with one agent and write the offer with another, the agent who showed the property may have a claim to that commission. You should only see properties with agents you plan to write offers with if you can help it. 

Disclaimer...I'm a Realtor.

As a realtor, I have to ALWAYS suggest that you use a buyer's agent when purchasing property. Not only are they FREE to use most of the time but if you don't, you're negotiating directly with someone who sells this asset type literally every day in order for them to make a living. You should proceed with caution. I actually responded to a similar question earlier today. I'll post that response below. 

"Is it legal to buy and sell without an agent? Yes, absolutely. Should you? Probably not. You wouldn't represent yourself in court, right? (See "The Tiger King" for a perfect example of why you wouldn't.) The same is true about your real estate transactions. If you have an intimate knowledge of the market, the process, the contracts, negotiations, and potential pitfalls, then by all means, have at it (and get your real estate license to make some extra money) but if you don't, it could cost you far more than the commission you did/didn't save. (I say didn't save because buyer's agent are free/extremely low cost in comparison to what an agent charges to list a property for sale.) If you're buying a property and the use of the agent costs you literally NOTHING (or very close to nothing) why wouldn't you use an agent? Sure, you can offer your commission to the listing agent to try to get an "in" but you're also subjecting yourself to working directly with the seller's agent and if you aren't extremely familiar with the process, you're likely to be taken advantage of."

@Bill B. Gotchya. I was gonna say, "ouch man, I know you've seen my posts before." I didn't know multiple accounts was a problem for this website but I'll keep an eye out for it. Does her writing style remind you of another account you've seen? Now that you mention it there was an account with a female name (I forget what it was) that was trolling people and talking all sorts of **** about Vegas a couple of weeks ago that I haven't seen on here since. 

I'll have to keep an eye out for patterns of this kind of behavior. 

Currently working my way into that same position. I deal with a couple of investors a few times a year and serving the general public has done will for me but I would LOVE to deal exclusively in investments with investors. Do you have any tips or words of wisdom as to how you became the "go-to" guy for investments in your area?