All Forum Posts by: Frank Wong

@Shiloh Lundahl. thanks for the shout out. I respect and listen to you as well.  Lots of great minds with lots of angles. 

1% Rule is overrated. Those who know know those who don't don't.  Would I buy a property that meets that in the worst part of town?  So many things wrong with calling it a rule.  A rule is something you are not suppose to do. 

Buying cash gives you the ultimate holding power. Don't let anyone ever talk you out of it.  Like Mike mentioned it doesn't have to be all or none. 1 cash 1 finance.  Many ways to invest. 

Get a structural engineer to inspect it. Pay the expert the fee. You really want a non bias professional opinion on it.  

You have the opportunity to get the deal now at $139,900. Do you like it that price? Does it still make sense? If you counter you never know what other offer may come in and you lose the deal. Really up to you but the search can end right now. 

It all depends on what type of property you are going after at a specific price range and also what you bring to the table as a buyer. Are you cash, FHA, 10% down, 20% down? Are you asking for inspection contingencies or going non-contingent? Are you aggressive or you just trying to throw in low numbers?

I am with @Russell Brazil I don't play around. I go for the property if I want it my time is worth more than trying to penny pinch.  I am an aggressive buyer but my analysis is on point. 

Hi Anthony, 

Should the agent show the buyer? Yeah I think so but the agent also have specific rights on how they value their time. If their time is worth more than showing a low price home why would they do that?  Reason why some agents charge full commission and why some agents are discount brokers. If your skill level and value that you bring is worth more then you have to manage your time efficiently. Only so many hours and available time to work. 

Agents avoid taking buyers and listings all the time because the commission is too low. This is nothing new. If someones avg per hour is $600 why would they do something at $150. No it's not free money. It's time committed and taken away from other things that they can do. 

If the buyer's agent is avoiding meaning dodging his clients and giving them the run around. No thats terrible. Just tell your clients up front I don't work in that price range let me find you an agent in my office that does. 

For me, I help everyone. If you are a serious buyer regardless of price I will treat you like my #1 client. 

Would you work for free at your current job?  Drive around town for free?  Spend your weekends working for free? 

Whats the point in writing a low ball offer with 0% chance of getting accepted?  I get the argument from the buyer side.  Well you never know unless you put the offer in. Now take it from an experience agent's perspective. You are wasting your time and mine. 

I have no problem writing a low offer but you better be All Cash 7 day close non-contingent if you are not you are just talk. 

To me sending 50 low ball offers and praying and hoping 1 gets accepted is not a viable strategy. Seriously all that time searching, looking, analyzing, missing out on good deals for 1?  This is not how it's done.

Don't spend all your money and have reserves. Then you will be able space out the slower months until you get to a point of your business where money is coming regardless of seasons. 

You being young is not the problem. It's all about results and proven success. Also mixing family with business is not a good idea.