All Forum Posts by: Brian Jordan

Are you wanting to use the emails to communicate between team members within Podio or would it include emails and communication with clients, investors, sellers, tenants, contractors, etc?

Imagine you were the tenant that had a bullet come through their wall out of nowhere. My first thought is to speak to that tenant to see how they feel. If they feel unsafe in their own home with them staying then I say evict them. The neighbor is the victim. Not the tenant who wasn't home and allowed a guest that committed the crime. 

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@Brent Coombs I'm not a conventional realtor. I have my license strictly for investing but of course I disclose that I'm a licensed agent . And yes, I offer to refer seller's to realtors all of the time. Not everyone wants to list their home on the MLS and go through that process. I've never bought a house from someone that didn't agree to my offer price. I would never be able to cover my costs if I listed properties for 3%. I'm mailing 20,000 pieces of mail per month. I offer people an alternative and could honestly care less if the decide to sell to me. If they want cash within 10-30 days or whenever, I offer that option. What you fail to see is that there is an absolute need for investors like me. Not everyone trusts realtors, wants to deal with prepping the property, allowing showings, etc. The situations I deal with are far to many to detail here. One thing I will say is that I don't tie up properties for long periods of time. I have standard inspection periods and terminate immediately if the condition turns out to be far worse than expected with repairs exceeding original estimates. Just like a conventional transaction. I keep the Seller in the loop the entire time and yes it works all the time. Finally, I have no fiduciary responsibility to a Seller. I disclose I'm an agent, deal with them honestly and fairly and simply tell them what I can afford to pay for their property. There's no hype, no pressure, I don't do presentations where I print out all the low comps and try to tell them "Your house is only worth $X" In addition, I wholesale deals where my profit is less than a 3% commission. I've even increased an offer by $2K because I liked the Seller and made a slightly larger profit than expected. I get thanked all the time for helping them out of their situation and making it so easy. There's a way to do this business honestly and ethically. I thought that putting HUGE PROFIT in my contracts would cause me to lose deals and I haven't lost one. I was just as surprised as you probably are to hear it too. One final comment for all wholesalers. Go about this business with the intent of providing a service and helping people find a solution to their situation. Help people and you'll be rewarded.

 Not necessarily, the laws in Ohio state that you cannot be compensated for a real estate transaction if you don't have a license. Learn your laws and decide how best to operate within them. 

 I like where you're heads at but I don't want buyer's on my list if they haven't purchased in 5 years. I want the guys/gals that have purchased multiple properties in the last 6 months. I'll send to buyer's over the last 12 months but instead of spending the time on the Auditor's Site, use a data scrapper to mine the data for you. I use Mozenda and learned from Justin McClellan from hi youtube videos.(https://www.youtube.com/watch?v=OQ5Q7_2AaMk) I'll upload 2,000 property addresses toMozenda, teach it what to look for & run the program when I leave the office. When I come back in the next morning, I have the tax billing address pulled from the county for every cash purchased home that I uplaoded. Now, I can sort the data by tax billing address and find my multiples. These are the people I want to meet! 

Pay no attention to John Thedford. He hates on all the wholesalers but apparently really enjoys hearing himself rant about the guys that "W". His favorite tactic is to call you uneducated and be very condescending. He won't even call you the "W" word because he prefers unlicensed agent or broker. Unlike John, I'll contribute some advice that might actually help you since after all, that's what this site is supposed to be for. 

All that being said, what do you have stated in your contract? I have 3 important paragraphs in all of my contracts. 1. Contract is assignable, 2. Marketing: Seller gives buyer permission to market the property to owner occupants, tenants and other investors during escrow. 3. Resell: Seller acknowledges and understands that buyer intends to resell the property for a HUGE PROFIT. 

I actually use all caps and bold font when spelling out HUGE PROFIT. (Michael Quarles gets credit for that one) 

Next, find out exactly what your state laws are regarding wholesaling, assigning contracts, marketing properties you don't own and receiving compensation from the sale/purchase of a real estate transaction. I personally am a licensed agent and have been for 6 years. For me, it was the right decision and certainly allows me to stay withing the regulations of the Div. Of RE in Ohio. However, I know many others that are unlicensed and are able to operate within the laws for our state. However, you have to start by knowing what those laws are.

Regarding a buyer's list, DM me your email and I'll send you my best tools for building a massive buyers list. It's very basic but will help you begin to establish relationships with the buyers in your area. People buy from people they like so those relationships are key. Good luck and I look forward to hearing from you!

If your intentions are to refi out and repeat, I'd find your lender first and see what they're criteria are regarding what types of properties they'll lend on. It's possible that some lenders may have an ARV minimum. I'm not as knowledgeable about the financing side as I am about areas, projected rents and the remodeling side of the properties. I'd do have a GC I can recommend though. PM me your email and I'll send you his info. Best of luck!

I've just responded to your post on Hubzu and have acquired probably 100 hud homes in the last 6 yrs. Regarding structural issues as well as others relating to the physical condition of the property, there are no contingencies. Once you submit that paperwork after being awarded the winning bid, your earnest money is nonrefundable. Notice I said "once you submit that paperwork". You have 48hrs to submit paperwork after being awarded the property. Should you have an inspection done immediately, discover a deal killer in the property and not submit the necessary paperwork is totally up to you...

Regarding issues with title, you'll never have one. These are about the cleanest title you'll ever see because 99% of the time, they're wiped clean well before the come to market. There occasional time where issues pop up but they'll be handled and you be assured a clear and marketable title. Always get title insurance just to be safe. PM me your address and I'll share some tips and tricks about HUD's with you and your agent. Best of luck.

I'm an agent in Columbus, OH. I've used Hubzu to purchase properties for myself as well as other investors. I've been involved in 20-30 transactions with them dating back to 2010 when they used to be Altisource. All of their customer support and transaction coordination is handled out of call centers in India. There's a good chance your agent couldn't make contact with the listing agent no matter how hard they tried. Phone calls, emails, smoke signals...nothing works. Not a big deal to me as I could care less. Regarding contingencies, each property is different. Some allow them, others allow none including financing. You're realtor will be able to figure that out when they go to submit your offer. The title companies they use are regional and may not even be in your state. They're the ones that have made the transactions the most difficult for me. I've found them to be slow, unorganized and not big on customer service. I've talked to others that love them so maybe it's just me. PM me your email address and I'll give some tips and tricks that you and your realtor can use to get the best deal.