All Forum Posts by: Cecil Russell

Although I don't have the experience to offer significant advice compared to the answers above, if I might suggest, instead of renting the property, try leasing to own / lease option instead. Someone who has "shin in the game" is far less likely to damage the property. Additionally, a repairs / damages clause in the contract makes the Tenant / Buyer responsible for damages / repairs.

Just an opinion

Cecil Lee Russell

I have been informed that FSBO Lease / Options w/o license may be illegal - attorney won't touch lease options. I know he is mis-informed but I cannot locate an attorney in the Amarillo, Texas area who is familiar with FSBO Pease Options. Any recommendations? Thank you.

Cecil Lee Russell

dba CLeeR Enterprises

Thank you to Ms Kirk and Mr. Telles. I live in Texas and this gives me a point to start at.

I wonder what makes all these flipping shows so popular? You don't really learn anything useful watching them yet shows like A&E's Flip This House are real popular. Since I don't know very much about the mechanics of real estate investing, let alone promoting a television show, I guess this will remain just a pipe dream.

Sellers-husband and wife-appear to be motivated sellers. Have a 3 bedroom brick home, asking 135,000. They currently owe 120,000 and tax appraisal places home value at 129,000. Current on payments but need to move within a couple weeks. I have no experience and not sure if this has potential or not.

True as to the glitz and glamour part but if I may ask, how many people who spend thousands of dollars on real estate courses that just don't fill the need would watch it? How many newbee's on BP do you think would turn in religiously? I know that I would be one because that is my biggest failing-not knowing procedure.

I would start by setting up an office with multiple telephone lines and 1 or 2 assistants; Then I would set up 2 decent inexpensive webpages-one for sellers and one for buyers. I would then advertise in venues like craigslist and thrifty nickel (American classifieds) using them for your primary advertising. The free paper classifieds will give you the widest dispersal of flyers and you do front and back on the flyers. (One side for sellers and one side for buyers.) Excellent rates at least out here in Texas. OH!!!! and don't forget the coffee maker. using the 25,000 primarily on advertising should bring you multiple times that amount.

I've seen a number of these flipper shows where everything about the actual mechanisms of Real Estate transactions is only hinted at. I would like to see (or be part of) an actual television show that demonstrates EVERY step of a transaction from the first posted ad looking for properties to the holding up the check, but especially on the paperwork side-the contracts, the title searches and the actual conversations with attorneys, sellers, buyers: Every aspect of real estate transactions-sort of a real estate training show. Just a thought.

I used it without ANY success except seeing my money go out of my bank account every month but then I've probably spent 2,000 on real estate courses and still haven't made my first deal-7 months.

Mr. G; going to go to Amarillo College. Closest to me and probably less expensive as I know to buy my books used at Amazon-if available. That's where I bought Principles of Real Estate I & II. I'm starting with business financials then real estate & mortgages with whatever else I need to learn. Classes are 3 hours each, which where combined with the knowledge available on BP, I will get a really good education in a brand new field. Been a trucker for 31 years. I'm tired of the long hours and low pay.