All Forum Posts by: Nigel Guisinger

I love that BiggerPockets is about helping and sharing information for real estate investors big and small. I’m a mid size investor. I have a few hundred doors and will eventually be a big fish. The key is good deals and time. We live in an age where people forget that this is a long road. I invest for buy and hold. Super conservative Investment strategy and it takes time and compounding the gains over years. I like that it brings in passive income.

Bigger pockets launched the business pod cast and for the businesses I own it’s nice to listen to that but the quality of pod cast isn’t there yet. Improve on that and get its quality to where to the flagship pod cast is before getting into the next thing. Quality over quantity. 

After you solidify the business side then go into either information on metals or the bond market. Those are two places where people are under educated when it comes to investment understanding 

Branson Heights

If you use a title company you will have those fees and if you use an attorney write the contract you’lL have that. In the deal I did, I also prepaid the property taxes. The title fees were around $1200 and the contract cost around $1500. I paid those and the taxes at close. This was a commercial deal and worked really well for everyone. I just refinanced this property last month after three years of owner carry. Everyone was happy and it worked really well. 

I own and rent property in Portland. If the current non owner requests the current tenant to move out they would be charged the 3 months rent under the law. If you do it, it falls under their rental contract. You need to read those. Now I’m not a lawyer and this is just my understanding but we had a situation like this where I was the seller and in the end the buyer evicted and was able to do so and that has been since the last legislative session ended. This is one of the reasons I’ve been moving my Oregon portfolio out and I started with all my Portland properties. 

Can you give some more detail on this. Many seller that carry will want some amount down and they also will want to know that you have cash to make payments. 

@Joey Ly I believe the first agent got a finders fee. But I’m not sure. I didn’t pay anything additional. 

I invest in Missouri. Property management license holds also hold a real estate license for sale as well. That means every Property manager have a license. So if you want the pocket listings the managers have that. It’s a win for the agent and manager for the agents you’ve had put to the pm. They get backside pay with no work other than the lead. I didn’t understand it either at first. We have bought five complexes this year in Missouri and we were punted from an agent to another one. When I asked why it was because the first agent wasn’t comfortable with the size of the deals. As an out of stater I didn’t see them as big but they did. It’s a great market but strongly different then what we see on the west coast. It’s a different way of doing business but surprisingly this works. 

Integrity of this industry is not always what it should be. Would you want to deal with someone that isn’t telling the truth?  As you grow in this industry you only have your reputation. And when you get to the point that you have real wealth you will trade favors with others for favors. Don’t lie. Be honest. This board can give you a wealth of knowledge to make a fortune. This board has people that can lend and have balance sheets that can buy almost any deal. Be the kind of investor we all should be and operate above the board. 

Why wait?  Three years is a long time to sit out of the market. Look for a deal now. The years of loss aren’t the first years. By waiting you are losing the last three years of your investment career. That means you are potentially losing hundreds of thousands of not millions in passive income. 

I’m excited for this and while I’m there I will be looking for someone with airbnb experience in the Nashville area. We want to buy near Broadway and would like to see how others manage their out of town Airbnb rentals.