All Forum Posts by: Account Closed

I did not mean to suggest contact a lawyer and they will do everything.  I meant call a lawyer and they will tell you what steps to take.  Pay them to put it in writing.  If you follow their instructions you should be ok.

I know very well what happens when loans are not done correctly.  My sister got her home for free plus attorney's fees from Wells Fargo!

I wish it was here.  It does look like it could be a great house.  From five states over and from a few pictures it looks like a good deal.

Get some local pros to look at it.  I would start with electricians and plumbers

Sorry, I was not trying to address your comments.  It was more of general statement.

Pay the taxes.  It is likely a judge would not allow him to let it go back for back taxes if you claimed he had mental problems.

At the 100 offers or more per transaction point, I see two options.  First...  Submit the offers yourself without an agent, which could give you more wiggle room with the price.  Second... Pay a flat fee per offer.  Make sure you make it as simple as possible for them to make the offers to get the cheapest price.  If the only things the agent had to change on each offer was the a) seller's information b) property information c) price d) seller's agent's information;  it would not take them long.

If you did the offers in big batches, and used a young hungry agent with a good commission agreement with their broker, they would probably do it for $20-$50 per offer.

Of course they would also get the commission from any transactions.

I am thinking somewhere in that price range the agent would be happy to submit as many offers as you want.

I know buyers that are willing to submit 100 offers for each one that gets accepted.  I do not know any agents that are willing to generate that many offers for one deal.

How many offers are you submitting for each that gets accepted?

You might consider paying a flat fee for someone to submit them.

You might want to call the landlord with the Judgement.  Ask if it was related to damage or non payment of rent.

If it was for damage I would not rent to them.  If it was for non payment I might consider it, since the other person is knows the judgement would be against them if the rent does not get paid.

The first thing I would do is decide if I had waited long enough for a better tenant.

Everyone here just saved me $700 in doors.  I am going to use this in an argument with a partner.  That will cover some siding we need. 

I love Bigger Pockets people.

In Texas, there is really no standard commission.  Many agents want their clients to sign buyers agreements.  Those agreements can force a buyer to pay a certain percentage.  It is all market driven.

If you want better than customary service from the agent expect to pay extra.

If you expect less than customary service from the agent expect a discount.

Example 1.  If I find the property, look at it without my agent, then draw up my own offer, and close within 10 days, I am not paying my agent more than 1.5%.

Example 2.  If an agent finds a property, that is newly listed and it is exactly what I want I will pay 6% to be split.

Example 3.  If an agent finds a property, that is not listed and it is exactly what I want, I will pay at least 6% for them alone.

I have been an agent so that makes it a little bit easier for me.  I also do not do crazy low ball offers or do other things that waste time.

By the way, if you do not have an agent that will rebate commission like in example 1, I would suggest finding one.

Owner financing is not something to be scared about.  It is a great money maker if it is done correctly.  There are two simple rules.  First...   Pay a lawyer to help you do it.  Get them to show you exactly what has to be done before you start the process.  Then have them verify everything before closing.  Second... Use a good Title Company that deals with owner financing on a regular basis.

I have been on both sides of owner financing in the last few years.  It is much more complex than it has been in the past, but can still work out great.