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All Forum Posts by: Account Closed

Account Closed has started 25 posts and replied 1846 times.

Post: Phony "bidding war" - ethical or legal?

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

In short...  the seller's agent's job is to get the most money they can.  Especially in estate transactions that is often done by releasing the amounts of offers to people with emotional attachments and possibly partial interest in the property.

You might have done little more than help some of the heirs set the price they will have to pay to the other heirs to get the property.

Also if an agent says to the seller... "I know someone who might beat this offer if I tell them how much it is..."  all sellers will say tell them.

Post: No compete contract with attorney?

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

@Aaron M.  Paperwork would not help.  If he wants to do something that inappropriate he would simply hide it from you, if you made him sign something. 

Post: Bank Owned Owner Occupant Requirement?

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

@Mark Ferguson   I have reported people.  Two of the properties were in the middle of assemblages I was trying to complete.

Post: Bank Owned Owner Occupant Requirement?

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

Many people do not even occupy HUD homes that were sold as owner occupant. I have seen for rent signs in yards before the properties were even close on.

If I did that, I would be fined the $200,000 plus, they would keep my money, plus they would take the house, plus put me in jail... but basically none of that ever really happens to people.

Post: paying taxes on principal paydown

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

@Brandon Hall

I always look at it like this.  You got the money when you took out the loan.  You just wait to consider it as income until someone else pays it back for you.

Post: Do investors ever work with newbie agents?

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

@Mona Medina  I originally forgot to include your name.

Post: Do investors ever work with newbie agents?

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

Some investors like new agents.  They might like a person that is willing to work harder for less money.  That would be a new agent.

Post: FIOS Frozen: Holdover Tenants DL Copyrighted Material Repeatedly

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

This post is timely.  Someone last night posted about providing high speed internet in their rentals.

Post: Can I buy a $1M apt bldg for $62,500 down? Ohio-Flip-Buy-Hold

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

@Brent Coombs  I agree with all of that.  I just thought you did not think it was worth asking about.  To me it is worth asking about.

Post: Can I buy a $1M apt bldg for $62,500 down? Ohio-Flip-Buy-Hold

Account ClosedPosted
  • Investor
  • Princeton, TX
  • Posts 1,900
  • Votes 1,080

With a good enough property and a high enough interest rate any program can work.