All Forum Posts by: Eric James

why do you think this is an opportunity without knowing the numbers? Real question.

I would use the 2021 tax assessment. Very hard to predict how much they could raise the appraised value per year. Primary homeowners have a 10% cap on how much their tax value can be raised, investment properties don't.  

@Bryan Campbell I see a lot of responses here that are a bit outdated. There are thousands of cryptocurrencies coming into the market every day - the truth is many of these coins or projects as I like to refer to them will fail, just like 99% of startups fail.

That said, however, the revolutionary idea behind crypto is the blockchain, and that, my friend, will change the world and how people perceive, store, and transfer ownership. Real estate is one of the largest industries ripe for disruption in a blockchain-enabled world. 

What is blockchain? It's a distributed, public ledger that tracks transactions over the network. And because it is a distributed ledger, it's un-hackable, unlike centralized ledgers (think banks or centralized data centers) because it would be impossible to attach every single node at the same time. Furthermore, the blockchain makes it possible to remove third-party intermediaries who essentially are there to guarantee that a transaction has indeed occurred, and there by adding unnecessary costs to the transaction. 

Blockchain technology, such as smart contracts, tokenizations, nfts will enable people to bank themselves without intermediaries because instead of a centralized system that is based on trusted third parties, we move to a decentralized system based on truth. verifiable truth.

So no, @Omar Khan, your analogy to tulip mania is wrong. Blockchain is a revolutionary technology that should you choose to ignore, you will be left behind just like the boomers who chose to ignore the Internet fad. ;)

@John Timmerman Something is very wrong with your market valuation or the seller is insane. Those properties in decent condition in my market are worth way more than $400k, and it's cheap here. I'd connect with an agent or other experience local investors and get the real numbers. 

Given the current market conditions do everything you can to keep this deal off market. It's the best chance you have to find a good DEAL. 

@Scott Swanson   Keep in mind what your seeing in the real estate training space and how this is presented started way back when in MLM  Amway etc ..  exact same presentations. 

you start with the pictures of the family  why do we do this  we do this so we can spend time with the kiddos  ( who is going to disagree with that)  then you put up like sperber pictures of his lambo  who does not want that LOL..

you bring in professional actors to do the set up meetings and create the funnel to drive them to the big events or big dollar programs..

I have been around this personally for years  I was a vendor at Armando Montalongos how to flip houses seminars  a little bit with Rich dad  and lastly with Nick Vertucci's program..  It was pretty interesting watching this all play out.. I have been to Utah and meet with 3 different fulfillment companies who run these guys programs this is a well Choreographed business and presentation behind the curtain.. Most folks just dont know it.. They all think they are going to a meeting and the lovely Christina is going to be there to show them how to remodel a home.

The folks that are TV reality show stars ( other than ARmando) simply rent their name and make a bundle doing that. they might show up at the big event and talk for 30 minutes shake some hands and down the road they go. I watched the flipping Vegas stars do that exact same thing at a Vegas event they get up there for 30 minutes out of the 3 day event.. His big secret make 25 offers a day well in the crash of Vegas that could have worked but today come on really ???

So its just very physiological warfare against these potential students.. sell them on futures  paint a rosy picture tug at their heartstrings get them all motivated to spend money then let the go at it.. And like any big money making business maybe 1 out 25 or so does anything that could be deemed successful the others just sell their books and tapes on E bay for 50 bucks.

Now to be fair and balanced like fox news I have met folks at these events that paid the 30k  during evening break and a glass of wine i would ask them what brought you here.. I remember one of them telling me he just sold his business for many millions and was curious and 30k was nothing to him.. but you take those who have to borrow the 30 k and well that can be very bad for them if they dont do anything with the course.

Lastly my wife was a trainer for Floyd Wickman back in the day .. you maybe familiar with his Son Gino's motivational books. Mr. Wickman class's were aimed at helping RE agents get to the next level and since my wife was a top producer and managed 70 agents she was very good at it..  But as some one who was raised in this business has owned 3 brokerages I can tell you that only 10 to 20% of agents make 80% of the revenue wash out rate is high.. with Wholesaling I suggest that only 5 % who try it are still doing it in a year and in any given market there will be a handful of wholesalers that do pretty good to very good the rest just trundle along now granted if they make 50 to 100k a year in the mid west and were used to making 20 to 30k in their JOB this is a big improvement over where they were at.. But its not millions !!!  Top producing real estate agents in many market make over a million a year with a whole heck of a lot of them making 200 to 500k.. the other 60 % of agents will not make much but it could be a secondary job and they are not the primary income producer in the family..  My wife last year closed 28 million by herself NOT a team thats by herself.. Ergo I do all the cooking and cleaning  LOL

commerical brokers who deal in MF are not your typical beginner agents who are just starting out selling houses etc.

commission are negotiable.  I suspect if you have a desirable MF brokers are already calling you saying they have clients

you could ask them to have their clients pay their fee thats done in the industry.

good luck.. as rates climb if rents dont go with them cap rates are going to be affected to the benefit of the buyers I would think.