All Forum Posts by: Brian Truman

Hi @Shogo Kyoto, 

I would verify with your local laws first, so please take this with a grain of salt. 

Referral fees are fairly common. However, the situation you list above doesn't sound like a referral fee. Sounds like a kickback. In some places, it might be okay. I would research the matter further with your local jurisdiction. 

BT

@Billy Baumann, 

That is a GREAT question! That is the ultimate question all us wholesalers want to know! Disclaimer here: I am going to tell you how I do it here in the great State of Washington. 

There are two ways of getting paid: 

1) You have what is called an Assignment Agreement. This is a legal document that is between you and the person you are assigning the contract to. You can do this outside of escrow and the buyer will then give you a check and you are on your way! (there is quite a bit that goes into this agreement, I can explain more if you are curious)

2) You can have an assignment addendum that assigns the buyer the rights and responsibilities of the contract, and thus get paid at closing, from Escrow. 

I have been paid in both of those manners. I hope that helps! Happy Hunting!

Same. See all of you there! Cheers!

@Kelsy Soderlund Thanks for the mention! I'll be there! Cheers!

Cody Brown welcome! And congratulations to making this choice so young! I completely agree with Brett Snodgrass about the beginners guide. If I could also make a suggestion, you may want to find someone to work under as an assistant. You could bring value to the them by taking care of the things they need to start delegating, while at the same time you are learning the lingo and processes of RE investing. You could even operate somewhat as a virtual assistant via email. It's a great way to learn how and what the processes are and how a transaction moves from offer to closing... Just my 2 cents for what it's worth. I wish you the best! Cheers! Brian Truman

@Kelsy Soderlund

Hi Kelsy, 

My night freed up, and I am not registered, may I still attend tonight's meet up? Thank you in advance!

Brian

@Ryan K.

Welcome, Ryan!

I was stationed in Bremerton...it still has a special place in my memory. 

I agree that Seattle is a little too hot. Not only would I recommend the areas you are looking in already, but also keep in mind that South of Seattle is another relief valve for those higher prices. There are some places like Tukwila, Federal Way, Covington, Kent, Auburn, and Black Diamond that offer some great  buy and hold opportunities. The prices are going up, but I think you can still be ahead of the wave in some of those areas. Cheers and wishing you the best!

Brian

@Alex Katos

That is a great idea. Working as an assistant is a great way to cut your teeth in this business. Especially if they have good systems or processes to plug you into so you can get going ASAP. Any time you can bring value to the marketplace, i.e. helping out a seasoned investor as an unpaid assistant, that education you get will be priceless later on. 

I too wish you the best. Please let everyone know how it goes. Cheers!

@Matthew Kelly

I have used two. But would only recommend one, and that is Rockwell. Not sure if they have one tailored for your state, though.

Welcome, Antonio! If you haven't already... Listen the the BP podcast #166. That is a good place for some info on getting started. I would also find someone near you to just work under as an assistant for a while. It's a great way to learn their systems and processes before you go out on your own. Happy hunting!!