All Forum Posts by: Adrian Tilley

@Mike Cartmell

I will just chime in to agree with the above posters...do NOT attempt to do this on your own. Way to many ways to screw it up. Get a QUALIFIED attorney. Good luck.

@Powell Slinkard

Welcome to the forum. I would first learn as much as you can, to the point where you can evaluate the pros and cons of each option yourself. Asking for advice is always a good idea, but I wouldn't just take someone else's word blindly. Their risk tolerance may be greater or lesser than yours.

If it were me, I would do idea 2, but I wouldn't limit myself to duplexes. With that much cash available, I would look for 3-4 plexes or small apartment buildings (5-10 units). That might provide better return.

Good luck, and Denver has a great REI community, with lots of people that know more than I.

@Joshua Dorkin

Awesome! Where is it.

Thanks @Brandon Turner for the picture! BP instant classic.

@Will Barnard

Will, just to clarify, earnest money is not required for a binding contract. There has to be consideration from both parties, but the consideration from the buyer is that they are committing to buying the property at the agreed price on the agreed terms, etc.

Welcome @Kari R. Tons of great advice and information on this site, and a bunch of helpful Colorado folks as well.

Welcome. There is a LOT of information on here, make sure to listen to all the podcasts. You'll know more than most investors by the time you get through them.

@Tom Goans

I'm curious your take on everthing - do you think it's time to get out of the business completely, or will it just take longer to find deals?

I haven't looked into this, but I'm pretty sure it's against antitrust laws nationwide to fix commissions. However, I think the OP was asking about what a typical rate would be. I imagine there is a common range.

@Elizabeth Colegrove

Thanks! That's what I thought. Now I have to make sure I can do the same in Colorado. Waiting for Anson and Mark in 3...2...1...

@Account Closed Not trying to hijack the thread, I have a related (maybe the same) question. Here's the proposal: I as a licensed broker/agent (in Denver Colorado) am marketing for motivated sellers. For those people in the OP's hypothetical (not motivated enough to sell where it makes sense for an investor to buy), I suggest they list with an agent, namely, me. Basically: I'll buy the ones that make sense, and list the ones that don't, so the marketing serves a dual purpose.

I think the OP's concern is regarding an agent's fiduciary duty to customers. But I believe that duty is only to people who have signed a listing agreement with you. Until they do that, they're just the general public, and an agent can buy below market from the general public, correct?

Am I thinking this through correctly or missing something? @Anson Young ? @Mark Ferguson ? Thoughts?