All Forum Posts by: Account Closed

Find another appraiser! Everything is negotiable.

As an investor, why would you want to use a Realtor contract of sale - that document is designed to not protect or help the investor - just too many outs in it and it is way too many pages. Who wants to read all of that stuff when you are trying to close a deal?

It does not have the right to assign, no built-in extension - no delay settlement language - no investor disclosures - no meeting of the mind provision -etc.

We use a one page contract of sale, called THE SKINNY - that has everything needed to control and roll real estate.

if you are going to do the court house steps deal - be sure you can settle.

Alternative:

• view the property well in advance of the auction
• find the owner - 
• find out their problems
• try to solve the problem before the foreclosure
• stop the foreclosure
• be careful of foreclosures laws in your area
• try to CONTROL AND ROLL the property using an auction
• find better deals - too many issues with F/C buildings
• there are easier better deals everywhere
• what you want to do can be done - but start early - find them in the court house before they are publicized - get a head-start on the competition. 
• Good luck

Any program that has the word "success" in it - be careful. 

If you want to learn something - deal with an investor who has a track record of making money - you don't need a re-play of someone who hasn't done it.

The only niche you need are these two CASH FLOW or EQUITY.

IF THE property has either of the above - than considered it

• use creative acquisition formulas
•  use delayed settlement tactics
• subject to only one out clause 
• employ a skinny contract offer
• make offers everyday subject to inspections
• make an offer on every property you find 
• use check funds
• do not use an agent
• do not deal with listed real estate
• work on FSBO's and expired only
• Advertise on the radio
• Control and Roll everything you find

Have fun and enjoy this wonder profitable exciting cash flow business

You are in the right job to learn how to invest. I just conducted a creative real estate formulas seminar in Columbia Md. Wish you could have been there. I have another one planned for next month.

Wishing you good luck in your new job.

 Matthew Paul was corrected with his answer.

 With a good tenant, the cost will be less. However if your tenant is angry with you and wants to get even, there's a number of things they can do. 

 Leave the water running when leaving the unit

Put a tennis ball in the vent pipe. 

Poor dry cement down The tolet 

 Put glue in all the locks. 

Open the drain to the hot water heater  

Take the kitchen cabinets with him

Use a baseball bat on the drywall

Punch hole in the roof

It is always best to treat your tenants like a customer. Be kind and understanding - they control your assets.

If you're loaning  in your own money, you should be making 30 to 40% on your money not 12 to 14%.

The game is not what motivated me to become an investor - it was the fear of being broke and not being able to pay my bills and the embarrassment of being well below average. I wanted more, after taking lots of useless courses, I discovered the secrets of this business. In one word ---- CONTROL- with a simple one page contract that I call The Skinny offer and the special words I've been able to build a great cash flow. It is all about control and having your way when making offers. 

Charles 

You may want to start with understanding what a good deal is. Maybe you want to stop looking for deals and try searching for transactions. 

I always favor cash flow or equity!  In the beginning of negotiations I am less concerned with what holds the building together, but acutely concerned with the problem and which proposal I am going to offer.

Cash Flow or Equity makes a good transaction. Too many people who call themselves wholesalers or investors take too much time looking at properties trying to make the BIG DEAL. The deal is with the seller, the building is the vehicle to a profit.

Profits starts not with the building, but with the ownership, existing financing and all the issues the seller is having with the property. For this reason I believe it is difficult to create a transaction when you are separated by an agent or any third party from the seller. If we can't counsel with sellers, eye to eye or ear to ear, our chances are less in creating that desired profit. 

You have the power to control real estate with a piece of paper with words on it  providing you know what words to use and now to connect them.

Understanding formulas and clauses is important to the success and growth of an investor.

Having a number of ways to control real estate makes the task of profiting in this business less stressful. 

Not buying but Controlling real estate (houses, commercial, land and non-conforming properties) has always been the best way with the highest leverage possible in putting the numbers together in your favor. It is amazing how little it takes to Control so much.

Some of the words and concepts that can be used when trying to create that great transaction-----

• Right of possession
• Delayed settlement
• Check funds
• Contract candy - buyer incentives 
• Meeting of minds
• Banking days
• Assignment 
• Release of liability 
• Hybrid offer
• Absolute auction
• Subordination 
• Stutter clause
• Substitution of collateral 
• Principal mortgage
• Right of first refusal
• Split notes
• Chattels for deposit and trade
• Front porch clause
• Seller participation 
• Bidder buyers bonus 
• Tax deferred
• Piggy back transaction 
• Seller refi for take over
• Short joint venture 
• Option buy back

One of my favorite formula is Control & Roll - a method of Contolling real estate with a skinny contract offer and fast turn over for a cash profit.

JD --- I hope some of these ideas will help you in search for profits.

Charlie