All Forum Posts by: Phil G.

@Dustin Verley

I bought current receivables from manufacturing companies for a discount and was paid by their customers directly in 30, 60, 90 days depending on the terms agreed by the company and the customer.  Our discount based on the terms.

Not exactly the same, but a similar line.  I used to factor companies' receivables.  

Congratulations on your new gig!

Does your department offer a 401(k) program?   Most municipalities enroll their employees in a traditional, defined-benefits program as opposed to a defined-contribution plan like a 401(k).

NACA does allow 1-4 family purchases. However, you must remain an owner-occupant during the entire life of the loan. If you choose to move on, you must refinance. They take this seriously and they place a junior lien on the property to ensure that you remain an owner-occupant. In a competitive market, NACA can scare off some sellers and/or listing agents. NACA doesn't use FICO scores, but if you do have some financial messiness, it may take a while to get approved. They will work with you. The process can be frustrating at times. You sometimes have to chase after people there. Having said that, it can definitely be worth it under the right situation.

I saw a posting on BP from Upen Patel, who is a BP member, that his bank is offering FHA loans with a 3.5% second for a 0% down payment loan on single-family and duplexes. I put it in my notes for 1st time buyer clients.

https://www.thefederalsavingsbank.com/bankers/upen...

Allison James Estates and Homes has a plan for $35/month plus a transaction fee of around $425.  The Massachusetts state broker is a great guy and works out of his Nashua office.  

@Mike Miller

I had the name of one brokerage in California, that doesn't require MLS membership or Realtor membership, in my notes for some research I had done for a venture I'm involved in. They advertise MLS Only memberships, but as memory serves, there is no requirement to join an MLS. Haven't done business with them, so I can't vouch for them, but their website is http://reebrokerservices.com.

Incorp does it in all 50 states for $99/year.  If you use their special url freeregisteredagent.com, you get the first year of service free.

Note:  I have no relationship with the aforementioned company.

The USDA program allows for rehab/repairs associated with a purchase.  You just have to make sure you find a lender who will accommodate you.

Many people join because they have no choice. Most brokerages require you join because that's how the rules are set up. With most boards, if the broker is a member of a board, all licensees who hang their licenses with them must be members also or the broker is charged a fee. In many geographies a local or state board require board membership for MLS membership.

When I needed to be a member, I joined, though I always withheld contributions to RPAC. Now that I'm out on my own and don't need to be a member to do what I'm doing, I'm not a Realtor. Personally, I don't support the organization for the same reasons I don't support closed-shop unions.

Most in the public don't know the difference between a salesperson, broker, agent or Realtor and the titles are used interchangeably.