All Forum Posts by: Account Closed

Welcome to Bigger Pockets. You can learn as much as you want to here.

Welcome to Bigger Pockets. Welcome back to Florida.

The best financing is seller financing. Find a seller that will hold a mortgage. How do you do that? When you go look at a property to buy, make your first question be,"What is the price?" . Let your second question be,"Will you hold a mortgage?" If the answer to that is NO, unless this is the bargain of the century, keep looking. Thirty five per cent of the houses in America are owned free and clear. Why wouldn't the seller want to hold a mortgage? Read my article right here on BP about why they should.

http://www.biggerpockets.com/blogs/3840/blog_posts/27179-seven-reasons-a-seller-should-hold-a-mortgage Make it your policy that if the seller won't hold a mortgage and it is not the deal of the century, keep looking. Once you have this mindset, finding owners that will hold financing is easy.

We all know that the financing is the best part of any real estate deal. If you are getting your financing at the B A N K , this is like buying retail. I have another article that you might want to read about owner finance.

http://ronclimer.blogspot.com/2013/04/seven-reasons-why-i-love-owner-financing.html Did you go read that article? The first sentence is "Owner finance is easy." I like easy. The first sentence of the second paragraph says," you can change the terms later". Can you do that with institutional financing? NO

Find an owner that will finance your next house with little or no money down. That is the best financing there is.

Stephan Doyan (above) gave you the best advice. Make a large principal payment to get your loan to value to 80%. If you don't have the cash to do this, get a financial calculator and figure out what payment it would take to get you to a 80% LTV within say 24 months or 36 months. Then set yourself a goal to make that payment. A good way to do that is to set up an automatic draft . You may have to tighten your belt in some other areas of your life but soon you will quit burning $300 every month. When that happens, keep making the new payment and start putting $300 per month into a saving account or better yet add the $300 to your house P& I payment. Real estate investing is a lot more fun when you live in a free and clear house. If you need any help with the math, just post it here on BP. Someone will happily figure the details for you

Congrads on your decision to not spend forty years working for the man. Reading puts you in the upper ten per cent . If you haven't read "The Richest Man In Babylon" by George Clason, you really need to read this wonderful book.

When you start working on your Florida real estate lcense, I have posted twelve free real estate math videos on You Tube to help you pass. The pass rate on the Florida real estate exam is fifty fifty. Watch these videos.

http://www.youtube.com/watch?v=07XWF_iuWCI Good luck and welcome to Bigger Pockets

Carlos

Do you like to sell? The purpose of a real estate license is to sell real estate and earn commissions. It is not an easy job but it is a lot easier than putting on roofs on houses. Many times, in Florida, I will be sitting at a red light watching people mop down hot tar on a roof in July. I ask myself,"Why don't they climb down off of that roof and come to real estate school?".

Every one needs cash flow. Most people like a job that pays a salary. You show up at eight and you leave at five. You get a check every Friday afternoon. You can be sure that whatever you are doing to earn that check is more lucrative to the guy that is paying you. If that were not true, you would not have that job. Whether you are good or mediocre or fabulous, you get the same check as every one else, the same check you got last week.

When you sell real estate, you go to work when you want to and you quit working when you want to. If you want to coach little league from 4 P.M. to 6 P.M. , you don't need anyone's permission. If you want to start working at six in the morning, go ahead. If you to work from noon to nine, it is up to you.

Selling is a skill. Selling real estate is a skill. It is a learnable skill. Once you learn how to sell real estate, you can always earn an extraordinary income. You will never ever know what unemployment feels like.

You will find more bargains as a real estate agent than you can possibly buy. Opportunities fall on your head. You go out to see a forsalebyowner in hopes of getting a listing. The house is worth $100,000. The seller is asking for $65,000. You buy it. You meet Bozo the clown. He want to offer $200,000 on your $300,000 listing that is a good buy at $300,000. You reluctantly make the offer to the seller. He says he won't take $200,000 but he will take $205,000. Bozo says he will pass. Good decision Bozo. You buy that one.

Does this kind of stuff happen? It happens all the time if you are out there selling real estate . What if Bozo didn't pass? You earn a commission. That is why you were there in the first place.

Get your real estate license and learn to be an extraordinary Realtor. It is a great career.

PS That looks like a military uniform in your profile picture. In Florida, recently discharged veterans do NOT have to pay the $105 fee to the DBPR for a license. Check that out in your state.

Welcome to Bigger Pockets. If you are here to learn you are in the right place.

Welcome to Bigger Pockets. Learning is the most important thing you can do. The Central Florida Realty Investor Club meets on the first Wednesday of each month. Check it out. It is a learning experience. Here is a interview with the president with more details.

http://www.youtube.com/watch?v=OiImXLLvpqo

I am not sure I understand your problem. You are NOT making enough money per deal or you are NOT making enough deals. If the problem is you are not making enough deals, the problem could be Spring Hill. It is a pretty small market.

What is holding you there? Do you have a job that can't be duplicated in Tampa or Orlando? Opportunity is abundant in Orlando. Competition is also abundant. There can't be many wholesalers in Spring Hill. Are you sure you are working hard and smart?

The Central Florida Realty Investor's Club meets on the first Wednesday of every month. Maybe you should attend a meeting and see what you learn. Here is an interview with their president.

http://www.youtube.com/watch?v=OiImXLLvpqo

2014 is going to be an exciting year. If I googled " How to sale my house in Spring Hill", would your website show up? If my dad died in Spring Hill. would I get a sympathy card from you? If I had $100,000 in the bank and I was trying to find a way to invest it, would I find your blog about "Opportunities in Spring Hill" ? If my house was forsalebyowner, would I get a call from you? If I was being foreclosed on in Spring Hill, would I get a call from you? If my property was being sold for taxes, would you be at the tax deed auction with a pocketful of cash that you borrowed from the guy that read your blogpost about "Investing Opportunities in Spring Hill"?

When you are sure you are doing everything right in Spring Hill and you are not doing enough business, maybe a different geography will make a difference.

If he has no real estate license for performing services that require a real estate license, he has no case in court. He will not sue you. Forget this deal and move on.