All Forum Posts by: Brian P.
Brian P. has started 0 posts and replied 963 times.
Post: What to do next

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
First step is to get it under control, that means a purchase agreement signed by you and the seller, with the terms and conditions you need. Actually in my early years I just optioned the property for a buck to get it under control and wrote up a purchase agreement later.
You will want to know the condition of the title so I get a title report, not the insurance just the title report if it is not going to be a buy and hold for me. I order this at the same time I open escrow, I generally use title company escrow services, except when they were having trouble with double closes and then in California I used licensed escrow companies who didn't feel compelled to report every detail of the transaction to the lenders who were not really a part of the transaction, and not their client, and were not affected by a A-B dry close, because they got their money wired to them and were fully paid off within minutes of the B-C close. And the B-C lender had a loan secured by a property that they were loaning on in the first place, same terms and conditions and the same borrower.
There are many good and friendly investors in the Phoenix area and I think you will find one willing to share their contract with you. Don't be afraid to call them, they will often become a part of some of your future business deals and your network grows. Call the head of the local REIA as step one.
Post: Personal Ownership ---> LLC

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
Why worry about it at this point? You can put it into a trust as step one after you own it and that won't trigger the due on sale clause under the Garn Act. Later you can make the LLC the owner of the trust. Just one point here, due to court rulings I would make your LLC a multi-member one.
Post: Best Elective to choose for California Real Estate License course

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
Let's make it 100%, I vote for the legal course as well. I started off my college career with the intent of becoming a lawyer. That changed when I met and married the girl I would spend the rest of my life with during my second year if college. I still stay interested in the law and it helped even more so when I became a broker. There are too many bad lawyers out there and your first line of defense is to be familiar with the law. I became licensed in 1965, had multiple offices and never carried E&O insurance, never needed it.
Post: 5 Valuable Rea$on$ Why New RE Investors Should Get Licensed

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
Yes you don't need to be licensed to be an investor, but if your going to be in real estate then be in real estate, all of it. The years I was an investor but an outsider to the licensed community were totally different then the years I was also a licensed broker. Even in dealing with any area of the business the reception I received as a broker-investor was far different than solely as an investor or broker. I wasn't someone who was supposed to swim in the south end of the lake or in the north end, the whole lake was mine.
Post: Why do I need an agent to get "full MLS access?"

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
I can tell you quickly, one of the MLS's I belonged to many years ago decided to experiment because of the use of personal computers and thought they would be in the forefront and offer access to the public. It lasted 3 months and was cancelled, why because the sellers were being used and abused by the public in addition to the criminal element.
They allowed access to everything except the personal remarks to and from agents. I won't list all the abuses but I started to have my sellers sign a clause not to be entered on the mls to cover my failure of mandatory entering it within 48 hours. A group of agents met each morning and handed printouts to other agents or dropped off a copy at other offices and the input on the mls was dropping which meant listing fee income by the mls was dropping which covered most of the cost of the mls. By the end of the first month we kind of had a fedex thing going. you dropped off your listing at a print shop we made a deal with and the next morning someone from your office would go there and get a copy of all the previous days listings if you were in the movement.
Which is another point, why do you think you should be allowed to use for free something I pay for to support and provide content for, and was established by, and intended for the use, of others like me. Lots of agents will provide that for you for $100 a month and will rebate that if you do a deal with them. Other will give you their password but even as an investor I consider that crossing the line and have helped several members lose their mls membership for doing that. You want that right then join the mls or actually use an agent and have enough class not to ask him/her to do something that can cost him/her their membership, you can still get the info you seek. Those investors just started looking for some other sucker to do it, the agent had to start looking for a job flipping burgers or delivering pizzas.
Post: BEWARE WHEN SHOWING PROPERTY!! ARKANSAS AGENT MISSING!

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
Was just rereading these posts and noticed the anti-gun position of a few posters. And it got me to thinking about women and guns. My women agents that wanted to carry a gun was fine with me. I still believe I would rather be judged by twelve then carried by six. The point is unless you do it right it may be no use to you. A bad guys first move would likely be the removal of your purse, thus your pepper spray and gun and purse would be gone .
So my mother who was born and raised during her early years in some rough mining towns learned to shoot at a very early age and basically became another Annie Oakley with a gun. Her father was a lineman for the telegraph company and a self-taught gunsmith, and a heck of a marksman. When I used to play high stakes poker in the backrooms of places you didn't want to go and there were a few strangers most of the players were packing. They teased me about not carrying and I would say I will let you guys handle it for me. I was only 16 when I started. One night a guy that was hired to watch the door thought he could do better by letting a couple of friends force they way in and disarm him. My older brother and I were both packing but these clowns didn't know it as they disarmed the other players. Our gunsmith grand-father who found out what we were doing provided us with sleeve guns, worn on the forearms and fired with muscle action. each carried two 45 cal slugs. We surprised the invaders and they were quickly tied up and removed by the guys that ran the game and I'm sure they were given the chance to swim the Pacific Ocean at night.
Any way murders, rapes and robberies of agents were getting to be a common thing in the area in 1989. That was when we really promoted safety and several women and men agents asked about guns. I remembered my grandfather having several guns for ladies. The most common was a garter belt holster and a four shot revolver, not likely to jam. So a few of our lady agents wore them even if they went out in twos and made sure they were wearing a loose dress so as to not hamper getting to the gun quickly. I am beginning to think maybe some agents might consider such an accessory if they like to fly solo when doing business with strangers. It can happen anytime, I know one of the murders was a listing presentation at a home, just not the real owner who made the appointment and sat down to hear the presentation.
Post: Making offers as an agent

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
I assume your talking about unlisted properties, I also assume your the buyer on these contracts. Why are you planning to deliver offers when it seems you haven't even talked to the sellers yet? Really don't know the properties and don't know the owners situation. If I read this right your acting as an investor at this point. Doesn't matter at this point about which contract until it reaches a point where a contract should be written. You may find that some other deal is possible with the seller then what is on your mind at the time.
Post: Fear and confidence block

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
Just remember that the other peoples money you use is doing what they want it to do and that is grow. Do you think those people would be happy just putting money into a savings account or a certificate and earning a whopping 1% and if the inflation rate is 3% They just set themselves up to lose 2%.
You can provide the opportunities for them to do what they are looking to do. One job of the wealthy is to maintain wealth by having their present wealth grow. They are doing me a favor when I use their money and I am returning the favor by providing a desired return on that money.
Post: Get a RE license or no?

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
If you want to do it, just do it and at the same time set aside a plan to get your brokers license so you don't have to work for someone else if you don't want to. That is the exact reason I became a broker, to be my own boss, period when doing agent work.
Also you will find that some investor activities will provide leads for your agent side, and some agents activities will provide leads for your investor side. Many that posted here mentioned how much competition you will have because there are x number of agents there at the moment. Don't sweat it 90% of that amount are not any real competition. As a matter of fact when someone quit I used to call them and tell them don't waste what you have learned, if you hear about someone wanting to sell or buy or whatever let me know and if something comes of it I'll take care of you and you know my reputation, I do what I say I will do. Ex agents a source of business, bird-dogs for me. agent and investor.
The final thing is both activities are a business and that requires work, so don't mix up time and work. I know agents that said they were putting in 60 hours a week and seldom getting a transaction. In reality they were putting in time devoted to the work, but not putting in the work. So if your not going to work then skip the whole idea and save yourself some time.
Post: How to buid a buyers list

- Wholesaler
- Salt Lake City, UT
- Posts 1,022
- Votes 401
Disagree, finding sellers is number one, finding buyers is number two, but the real world answer is you do both at the same time. I have suggested many times for newbies to start two binders, finding sellers, finding buyers, and any time you find something on the subject post it into the binder, and I mean stop and post it right then. Having a list of buyers and no sellers equals no money. Having a good deal and no buyers list at that moment equals money.