All Forum Posts by: Brian G.

Hi there and welcome. Based in Miami, Fl and currently flipping and holding properties in Florida and the Caribbean. All the Best!

@Amin Ali  first, thanks for posting such detailed chain of events, interesting post and how you prevailed. I just added an attorney to my team last month. This one came to me from a solid referral. So far, he is reviewing contracts and representing me when needed. I hope I don't come across anything like you explained above but just in case I think we are ready (I hope). So far I see in my attorney a guy who is very diligent, professional and knows what he is talking about. If you don't mind I would like to share your story and keep a sharp eye on him when he answers my "what would you do in a scenario like this" question... All the best

I understand your concern. For me, If the realtor is or not feeding competing buyers with sensitive information, honestly I don't care. Do we have a good deal? That I care. At some point, other buyers will run out of money (maybe). More concerning is the availability of such realtor. If you haven't sign any exclusive agreements go out there and talk to as many realtors as you can. Pick the ones that brings you the best deals. The competition will weed out those that are not committed to help you. The one that stays will enjoy double commission (buy side and sell side). In the past, I had the similar problem. Then got my license and placed offers here and there. Now I am realizing that not a realtor nor a license is necessary to make this work. Good deals are the key and not all are handled by realtors. Never surrender control and Good Luck!

Kelley Brown my wife and I own 2 condos and 2 SFH. In summary the condos are in auto pilot. Rent comes in and expenses are low. The SFH require a bit of more work and we have higher reserves for them. One of the condos was recently acquired (last month). Yes, I had to order the by laws and the financial books. All together was $250 and it looks like a phone book. All stipulations, rules and financial health of the condo were included. It took 5-6 hours to review the whole thing. At the end, we pull the trigger as: 1. Appetite for condo housing is very high where we live in Miami (people love the clubhouse and amenities). 2. I'm licensed so I have better control of the acquisition and disposition of the units. 3. Contracting and rehabbing is done in-house. 4. We are diversified (not all properties are condos). 5. We are allowed to rent. Due diligence is require for these puppies to work. We are closing on another condo unit this month. Good luck, Brian

Here in Miami, Fl first + last + sec. deposit works like a champ.

Interesting reading here. Glad to know I am not the only one getting punched in the mouth. The stories here are a clear example that this journey is not for the weak and uncommitted. Yes, I have also been knocked down! And hard. But every morning, every contract, every phone call, every flip, every "tenant call" I represent the team - my family, my kids and my wife. It requires me digging into the most internal principles of my core and answer a simple question... What does it take to be great and stop thinking like an average individual? For me, this my friends has worked, it has to work and it will work. I don't care what it takes... Or how long it takes... The process is simply weeding out those that lack physical and mental strength. All the best in 2015!

Hi @Account Closed my advice... Do not let this get in your way to start. Very soon you will realize that you will make up 50+ unsupported reasons no to start your RE carrier. Why? You are letting your emotional stories paint a picture of how your future should look like. The truth... 99% of these "self made" stories will never materialize.

We all have these demons (stories) inside us. I must wait to start investing in RE BECAUSE: English is not my primary language - not true. I need money to start my carrier -  not true. I need my license to start - not true. I need to live where I invest - not true. I need a degree to better understand - not true. I need good credit, I need to attend a seminar, I need to buy a book, I need a mentor, not true, not true, not true... What worked for me was getting down and dirty in understanding the market (risk) and defining what a good deal looks like (opportunity). It took me several years to destroy the inner doubts, the emotions, the stories. Today, I am thankful I am able to make decisions based on facts and free from emotional stories. 

Finally, No... English is not my primary language and yes I am securing deals. You are in Orlando, Fl - a hot market where Hispanics represent 25% or more of the population. Act now! Todo lo mejor... 

Hey @Gustavo AL great to know you are staying put. The opportunity lies in how difficult is RE in this market. The process is weeding out the weak, unprofessional and uncommitted. This is why I am continuously finding and surrounding myself with resources and people that can add value. Yes, please share your experience! Todo lo mejor...

@Tim Macy I have learned that the process with Fannie Mae varies depending on some factors. Here are a few: listing agents professionalism, supply of REO's and your consistency. Some listing agents (Fannie Mae) based their business in volume and for the ones that have a system to deal with multiple offer scenarios (getting back with you timely) it is imperative for you to find a way to identify them. Some times you notice a sudden jump in REO's supply. If you have a system in place you can monitor their activity especially for the "back on market" properties that fell through. There is a high level of motivation to dispose these properties. If you handle your search as a business, meaning making it a habit to write offers on a consistent basis, soon or later you will secure one... In regards to their rehab loans, I never had to apply for one. But my loan officer says that the process is not difficult especially if you are going to occupy the unit. Regards,

Thanks @Elizabeth Colegrove for the advice. I will continue applying consistent prospecting and marketing. Every month. Every week. Every day... Whatever it takes to bring the next deal with great numbers! Working on my signature next. All the best. 

Brian