All Forum Posts by: Don Konipol

Just provide your address and I’ll drop off the money in small bills in a duffel bag…..

This thread shows how much I learn from BP - I hadn’t a clue about any of this! 

Quote from @Jay Hinrichs:

Quote from @Bill Schrimpf:

I wonder if Compass will get in trouble with any fair housing laws, someday.

In commercial, and for pro's, pocket listing and double ending is OK.  It assumes a certain level of sophistication and knowledge.  For the average retail seller, or the aspiring pro (newbie) it's not, because the knowledge is not there.

https://www.compass.com/newsroom/press-releases/4aPEadsMI1yW...

agreed.  as it relates to SFRs in neighborhoods your spot on.. other types of RE or locations its a much different story and MLS just is not that important and or used.

There’s sometimes a conflict between (1) most money best deal for the seller and (2) most personal commission for the agent.  

Quote from @Adam Schneider:

What are everyone's thought on HB 797 in NC (2025), Short Title: Residential Property Wholesaling Protection?

https://www.ncleg.gov/Sessions/2025/Bills/House/PDF/H797v2.p...

#NorthCarolina, #NC, #Wholesale, #Wholesaling, #HB797

A quick reading - seems to mean that anyone purchasing a single family or any property containing a residence for purposes other than to live in (an investor) is covered under the act.

So they’re lumping long term buy and hold investors together with flip / flippers and wholesalers.  Government interference in the market system always starts slowly, and then gets increasingly restrictive with the law of unintended consequences hitting harder and harder.  Now it’s providing a 30 day “back out” period, next it will be a restriction on the “profit” an investor can make; then it will be restrictions on rental rates.  

What could possibly be the “unintended” consequences of this simple action requiring a 30 day “back out” provision.  I could think of 2 offhand. Since it’s 30 days or until the deed has transferred investors get the owner/seller to sign over a quit claim immediately - can be withdrawn if the deal doesn’t pan out. So instead of a reasonable due diligence period the seller is stuck with no period that they can look for a better offer.  More likely the number of investors looking to buy in NC as investment will decline; less buyers same amount of supply equals a lower price to sellers. 

We use Mailchimp to sent out 15,000- 20,000 emails monthly.  It has a pretty good creative aspect to help produce attractively positioned content. Also has a pretty good contact management feature, that integrates well with outlook and SALESQL.

Quote from @Rafael Trinidad:

Condo information 3 million to fix only had about $500,000 in reserves and only 70% of the units were making monthly hoa payments 

The DOWNSIDE of investing in condos

Best wishes for your success Scott 

Quote from @Ezekiel Trevino:

I have been looking into different types of real estate investing. I heard and read about real estate wholesaling. Can I wholesale as a real estate agent? Would I be breaking any epthical rules?  

The term WHOLESALING encompasses many different techniques, strategies, and actions. Further, rules regarding any of these activities will be at a state level, so you would have to become aware of the specific statutes, if any in Texas and any regulations put forth by the Texas Real Estate Commission. Further, assuming you're a member of a local NAR affiliate, you'll need to interpret how the wholesaling activities you plan to engage in syncs with the ethics area of the NAR. At a minimum you're required to disclose your license in any real estate transaction or proposed transaction you participate in. Since you will be NOT acting as an agent in a wholesale transaction, this needs to be disclosed to the property owner also. I personally believe that having to disclose and tread carefully makes wholesaling more difficult for a licensee than for a non licensee; yet many jurisdictions are now requiring a "wholesaler" to be licensed. This may be a "trap" where the jurisdiction requires a license to wholesale and a license holder is in violation of a code of ethics when they wholesale. Best advice is spend a couple of hundred bucks for an initial consultation with an experienced real estate attorney and thoroughly understand what each "wholesaling" action will entail in both risks and compliance.

Quote from @Zach Howard:

Sorry, I accidentally posted the previous post before adding my question! 

Do you mind sharing some specific examples of what sorts of exchanges some people might do that decreases their net worth to accomplish some other goal? 

“Third example - I’m always willing to entertain a trade of properties, not for 1031 exchange benefits (which I believe is overhyped and over rated), but as a method for adding to my net worth - IF the exchange puts me in a higher wealth position. Surprisingly, people will do exchanges that DECREASE their own net worth IF the trade enables them to accomplish a more important goal. ”

sure - recent example.  An investor I met “online” told me he wanted “out” of a piece of land he owned because he was tired of trying to get building approval, paying property taxes, dealing with city “clean up: citations, etc.  I created a second position note on a property I owned and exchanged the note for the property with the property being exchanged at 75% of liquidation value.  So, the property was valued at $450,000, and we used $337,500 as the exchange value.  The second lien note I created and traded was a 0 Interest 0 payments for 36 months.  Once I had ownership of the property, I traded it for a share of a development being done adjacent and receiving besides a share of the development a first lien on the property I traded.  The development has been approved, and I have been offered $850k for my share, which I may accept.  If I accept I will attempt to by back the second lien note for a significant cash discount. 

Quote from @Daniel M.:

I suppose my question goes deeper than just whether the interest rate is obtainable. With New Silver—and fintech companies like it—not being FDIC insured, how do I determine whether they're legitimate, long-term partners and not just fly-by-night operations? Or even whether they're real partners at all? It's not like I can visit a brick-and-mortar branch locations to get a better sense of who they are.

FDIC insurance refers to deposits in a Federally chartered bank.  Most loans these days are made by non bank lenders.   

First, you need to determine whether the “lender” is actually a mortgage broker, or a direct lender.  Many brokers use various methods to disguise themselves as lenders when in actuality 98% of the time they’re brokers.  

You evaluate a lender/broker as you would due diligence on anything else.  Reputation, referrals, customer reviews, length of time in business, complaints, references, etc.