All Forum Posts by: Jason Layman

@Ned Carey thank you. Still haven't heard any positives from anyone yet.

Have a seller with 7 condos in a multiplex with other condo owners.  Looking at it as a possible deal for myself or to wholesale.  Interested in hearing opinions since most opinions I get are no to the condo.

No idea why my last post is in bold.   I wasn't yelling!

Alina Trigub It is still moving along.  They are still raising funds and the buyer is rather lenient with time schedule.  

I am looking at a 48 unit building.

Numbers are good

Owner had it sold, buyer did not perform.

I am looking for recommendations as to how I could purchase this deal with none of my own money.   If not, a possible way to get some equity in the deal itself for some passive income.

I will probably not be buying this deal.  I don't believe it is smart for me to get into a deal like this, as I do not have any reserves built up.  That is why I am leaning towards some type of equity or payout for bringing the deal

I am familiar with seller finance, syndications and other avenues.

Its hard to know who to trust when talking to "buyers" in the digital landscape.  I worked with the buyer from a second seat position and was not deeply involved in the deal.  Essentially the buyer did not have the down payment and could not raise it.  They were approved for the lending side.  I tried to raise the down payment money, but was not successful.  

I would like to see some opinions on how to take this deal down.

@Adam Doll Could you share your assignment contract with me as well.  I am trying to compare a few different ones.  Did you produce it yourself or purchase one from somewhere?

I am having trouble finding buyers for vacation rentals.  I have a deal under contract in North Myrtle Beach.   Im not having  a problem with the deal not being good for a buyer, but finding investors who deal in vacation rentals.  Anybody here looking for a beach rental property or know someone who is?   I have put out a few FB posts trying to gather buyers but no luck there.

Your view is one reason why I'm getting my license as well as access to the MLS. I don't really know why investors discredit the MLS. It just seems like another stream to pull leads from.

Chris 

You just have to interview a lot of different brokerages.  I think I will wind up with a smaller mom and pop office than at a large corporate office.   The only downside is places like Keller Williams and Exit Realty offer a lot of education and training in real estate sales.  At a smaller office you might be left to figure out a lot more on your own.  

In terms of provisional status,  all you need to remove it in NC is to complete the three 30 hour post licensing courses.  This removes provisional status, but you are still limited as to what you are free to do in the Real estate sales world.  In order to open your own brokerage, you still have to have 2 years under a broker in charge.  As I understand it, that two years experience is determined by the RE commision.   You can't have two years with your license hung in an office and not do any transactions.   I think the commision has to determine what your experience has to be, in terms of transactions, not just 2 years in real time.

I'm taking my classes now. I also don't want to be a full time broker. I like the idea of working for a few investors since it seems a lot of agents don't want to deal with them. The MLS is also a factor in me getting the license. You can see what's coming and make offers yourself or pass it on to other investors if it's not the deal for you. Doing your own comps as well as comps for others is just another income stream. Once you drop the provisional stays from your license you can accept fees for comps yourself and not have to do it through your brokerage. I feel dealing with investors as an agent is a gap in the real estate field. I am also in NC