All Forum Posts by: Brian Gibbons
Brian Gibbons has started 114 posts and replied 4413 times.
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Aaron Mazzrillo:
There's been more times than I can count I've laid awake in bed, stressed about the deal I couldn't get out of, not having any deals, running out of cash, etc.
The best quote I've ever read that applies so much to this business is
-----------------------------------------------------------
"This too shall pass." When times are rough, I read it every day. When times are flush, I try not to remember it!
A Couple of Mine...
Common Sense Plus Action = Power
You Always Find The Finest Fishing Holes Where the Average Fisherman is Afraid to Go.
Aaron you are one of my favorite posters and helpers of BP Nation. God Bless You.
Brian
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Ok I have been motivated to use this thread to help newbies learn CASH or TERMS REI.
Step 1 - Use a simple form on the phone and walking through the house.
http://reiskills.evsuite.com/propertyinfoworksheet/
Step 2. Use the motivated seller questionaire. Memorize these questions.
http://reiskills.evsuite.com/motivatedsellerquestionaire/
Step 3. Before doing Steps 1 or 2, listen to this video.
http://reiskills.evsuite.com/bp-myblog-iamarealestateinvestor/
What are you willing to do to succeed.
What are you willing to give up to succeed, like insecurity, fear, procrastination, pessimism, etc.
Original on my BP Blog is here.
http://www.biggerpockets.com/blogs/3/blog_posts/19-read-this-daily-if-you-are-a-rei-i-do-
Lastly, if you are REALLY struggling, look here.
http://reiskills.evsuite.com/mentalvitamins-1-best-profile/
May God Bless Your Endeavors and Your Dreams.
Brian
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Tyler Kimmel:
"If you Will it, it is no dream"
Keep me posted
U rock, Tyler.
Best Wishes,
Brian
Studio City CA
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Edward Adekanbi:
Sure call me.
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Kenneth Goldman:
Originally posted by @Brian Gibbons:
Originally posted by @Kenneth Goldman:
Anyone have any ideas? I have seen the concept floated around about a local investor's coaching program but I don't have any money to spend aside from splitting the profits of a deal 50/50 nor do I know where to identify such a program. Help!!!
Wholesaling - flipping-rehabbing-retailing is one box.
Another box is the Seller Financing Box, Lease Option Assignments and Sub2, etc.
I show the seller they have 3 options (little equity seller)
1. Sell with an agent and pay the costs to sell. Commissions, closing costs, sellers concessions, spruce up costs, holding costs (PITI costs while listed vacant, etc. This is about 10% to 15% of comps, especially if the location is not great (corner, busy street, etc.)
2. Renting it out, many do not want to.
3. Selling on terms in IL. Sub2, Wraps, Lease Option Assignments, etc. Or Owner Financing a free and clear house.
This model is not flipping - retailing. No builders, no cash buyers being too picky.
Just matching up Little Equity Sellers with Just Missed Financing Home Buyers.
Make $5000 in 10 Hours.
Brian, your advice is great. For number 3 in your list, how do you identify those opportunities? Thank you-Ken
Ken,
Here is an audio response.
http://reiskills.evsuite.com/bp-3steps-kennethgoldman/
no links
Keep determined.
Brian
Post: Find a Mentor or Quit?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Kenneth Goldman:
Anyone have any ideas? I have seen the concept floated around about a local investor's coaching program but I don't have any money to spend aside from splitting the profits of a deal 50/50 nor do I know where to identify such a program. Help!!!
Wholesaling - flipping-rehabbing-retailing is one box.
Another box is the Seller Financing Box, Lease Option Assignments and Sub2, etc.
I show the seller they have 3 options (little equity seller)
1. Sell with an agent and pay the costs to sell. Commissions, closing costs, sellers concessions, spruce up costs, holding costs (PITI costs while listed vacant, etc. This is about 10% to 15% of comps, especially if the location is not great (corner, busy street, etc.)
2. Renting it out, many do not want to.
3. Selling on terms in IL. Sub2, Wraps, Lease Option Assignments, etc. Or Owner Financing a free and clear house.
This model is not flipping - retailing. No builders, no cash buyers being too picky.
Just matching up Little Equity Sellers with Just Missed Financing Home Buyers.
Make $5000 in 10 Hours.
Post: Sell or lease option? Seller finance? Something else?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Robert Leonard:
Your job as an agent is to show ALL options, not what you think they need. Period.
Post: Sell or lease option? Seller finance? Something else?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Robert Leonard:
Robert are you against seller financing?
Bond for Deed in LA?
What do you do in case a Seller has little equity, and cant afford the costs to sell, like commissions, closing costs, sellers concessions, and holding costs of a vacant property?
Say, "Good luck Mr Seller"?
Bond for Deed
http://ackelandassociates.com/bond-for-deed/
Shift by Gary Keller Ch 10 Creative Financing
http://reiskills.evsuite.com/shift-garykeller-evsuite/
no links
Post: Sell or lease option? Seller finance? Something else?
- Investor
- Sherman Oaks, CA
- Posts 6,088
- Votes 3,921
Originally posted by @Robert Leonard:
You need to know what the Safe Act is and how it affects any type of seller finance or lease option deal. I would recommend an outright sale if you choose to sell.
If you need info on Dodd Frank and SAFE Act and TILA, see
http://bundlr.com/b/dodd-frank-safe-act-respa-tila
Get the Seller Financed Buyer to a RMLO, they know what's possible.
Robert, are you a Realtor?