All Forum Posts by: Noel Challenger

Most likely the lending institutions would not accept bitcoin as collateral for the loan due to the volatility of the asset. You would have better luck in negotiating directly with the seller of the property to see if they would accept bitcoin as consideration for their house. You would then weigh out a lower closing price due to the bitcoins and then you would use the lower price as the principal for the loan.

You would be wasting your time if you tried to door knock on an absentee owned property. The best way to get in contact with the property owners is to call them directly or send a letter to their primary residence.

I recommend you start researching and taking advantage of the free information available to you here on BiggerPockets, YouTube, Google, etc. The first step to any investing is to have knowledge regarding the investment method(s) you are interested in.

It's only legal if you have consent from the banks to enter their property. This is also very unlikely if you don't have a great relationship with the specific bank that owns the property to begin with. Also a question comes to my mind the minute you mentioned foreclosed homes. Is this person credible in what he does or is his business practices shady?

When a property is foreclosed on it is considered a REO. Depending on the situation, the lender would choose whether to auction the property off or list it with an agent. Most foreclosures are sold via auction as it is the faster way to sell the property (auctions are all cash, no contingencies, less decision making, etc.)

"What is your incentive of paying your agent by the hour? If I feel as if you are a strong prospective client, why would I want to be paid by the hour if I could take the commission?" These are some of the questions I would ask if I was your agent. I feel you should put yourself in your agent's shoes as well and if it sounds great to your ears then it would sound great to your agent's. You just have to figure out a win win for both yourself and the agent you are working with and then everything should be smooth. 

Hey Noor, 

You would have to get permission from any landlord to do vocational renting, unless stated otherwise in a lease agreement. Also, if the numbers are right and other people are having success with this approach you should do great! Just study more in depth on what the super-hosts in that area are doing. You can read their bios, their apartment descriptions, the pictures they used etc. Just set aside money for a vacancy fund as you might need it if there's no cash flow during certain times. Good luck!

I agree completely with Jonathan, hands on work is the best route for a new agent. You can also read some of the same psychology/self-help books that people recommend on BP. Books like How to Win Friends And Influence People, Rich Dad Poor Dad, The Miracle Morning, etc. But nothing beats actually getting out there communicating and building relationships with people that will help you achieve the goals you set for yourself. Think a million and good luck!

If you are looking to get a California license online I would highly recommend Real Estate Express!

https://www.realestateexpress.com/

One way that you could help the native Houston residents could be to buy their homes and then rent it back to them. They need some kind shelter for their families and most probably cannot afford the rehab costs on their current home. This is just an idea to put some thought into, I see it as kind of a win win.