All Forum Posts by: Jesse Rivera

Welcome to the site!

Why in the world would a seller accept a contract w/o an EMD? I would never do it, and I would never let one of my sellers do it. EMD is the only damages available to the seller (at least in Oregon) if the buyer walks away for no reason (besides the negotiated contingencies). The seller is taking the home off the market with the expectation that the buyer is serious. The EMD keeps the buyer honest.

Just because a broker works for the same company doesn't mean he see the same deals. Every Broker is an independant contracter, has their own connections and do their own marketing. Spread the word with all Brokers you meet. And let then know you will list it with them if you buy the home (after rehab).

Here is what you tell the listing agent, "I am a real estate investor, and just wanted to check out the house. Do you mind if I take a look? Also, do you ever come across fixers that can't be financed? If so, give me a call. I will let you keep both sides of the deal. I am a cash investor and can close quickly."

Give him you card, get his card, and touch bases with home (phone call, not email) every few months. Put it on your calendar.

Networking with Brokers, lenders, wholesalers and other investors is essential in this business. And making phone calls to them to develop a relationship, and keep in their minds is gold.

PS: I am a real estate Broker. We buy stuff at auction, and wholesale some of it. Who do you think I call first when I have a wholesale deal? Yup, the people who bug me all the time. They are on my mind, and I know they are serious. 

You should not be buying a property at auction without doing a title search. Period. End of story. You need to be looking for liens that will stay with the property after auction, and each state is different. These are debts that the buyer will be responsible for. Taxes? HOA? Is it a 2nd that is foreclosing?

Also, is there a redemption period after the sale? In Oregon, there is a 6 month period for redemption. But we have found a way to sell in 3 months, and in some cases, 1 month.

I have a list of over 100 buyers, and work with an equity fund. Contact me with your deals and let's do business!

I'm considering the same thing. If you have your own money to lend, much easier, but if you are getting investors, lots of SEC hoops to navigate.

Here is a workshop this month that I am thinking of attending:http://www.groupsponsor.com/?page_id=174

One of the lawyers is on this site: Jillian_Sidoti.

Keep us informed on what you learn!

A big welcome from a fellow Portlandia-er.

Hi Robert,

Welcome to BP! I do come across some Gresham properties, but none of my investors like to go out that far. Would be great to have someone that likes that area. Send me your contact info and I will keep you in mind.

College education has absolutely no bearing on being a successful Real Estate agent or investor. Education is essential, but not from college classes. Don't waste the money.

I know some very successful agents and investors that have never stepped foot on a college campus, and some very highly educated failures. If you have a thirst for knowledge, have a strong desire, good work ethic, and know that you will and should always be learning, you will make it.

Oh, btw, I hold a masters degree.