All Forum Posts by: Guy Gimenez

No matter what platform you choose, you'll either have to put in a lot of work or a lot of money to get results organically. You won't get a stock website and have leads start flowing in...just doesn't happen in a crowded industry. You'll still need some serious SEO and/or ad-spend. Do a good bit of research on any platform you choose...don't depend solely on BP. I'm certainly not in any way knocking Carrot...I actually had a Carrot site more more than a decade ago and I'm sure a lot has changed since then. But those getting results described above are not purchasing a stock website and watching the lead flow start popping. And there will never be a less expensive lead source than referrals from relationships you build. 

1.  You don't mention how many "deals" you've done as an investor and how successful they were financially.  

2.  You don't mention how many "deals" your wife has closed for clients and how successful they were for the client. 

3.  Experience will matter to some of customers, so you'll have to be specific about your history and success. 

The biggest issues with paid mentoring and coaching are:

1.  Often the "student" doesn't do his/her due diligence PRIOR to choosing a mentor / coach, resulting in a loss of money and little to show for it. The student requests no proof of the mentor's success in the industry but instead gets easily sold on the rainbows and pixie dust. And they almost never ask for a copy of the contract in advance, and when the student receives it, they don't understand what they're signing. 

2.  The mentor is all hat and no cattle, meaning they're experts at marketing themselves but don't really have the requisite knowledge and experience to guide someone. 

3.  The mentor farms out training to low paid wannabe investors who have even less experience, but again, they're great marketers. 

4.  The student expects results but does little to no marketing, does little to no online research to fully understand strategies, potential pitfalls, contract and contract law, title, etc...they just wait to get rich. 

Yes, you should be worried. Your due diligence was done late in the game. Please tell me you didn't pay them any money upfront! After the fact, you identified red flags and now understand why someone promoting on BP is no different than someone posting on other social media pages...it shouldn't automatically lend credibility to the company simply because they pay to promote themselves on BP. I suspect your chances of closing are slim so start looking for a credible lender who will do their due diligence on the property early in the game instead of just now figuring out that the property is rural.   

Climate plays no role in my investing. Data and the political (and overall business) environment plays a huge role. 

Don't put a pre-foreclosure under contract UNLESS you're willing and able to close on it. If you intend to assign the contract and you're tying up a seller and possibly forcing them into foreclosure in the event you can't assign said contract, that's unethical and potentially illegal if your contract is not drafted properly (proper disclosures regarding your intent). This is how new investors ruin their reputations before they even have one. 

Quote from @John Giggy:

Hi Ty. Thank you so much for the info. I greatly appreciate it. I just heard from the title company that they can issue an ALTA policy. Yay. My question now is would a lender lend with this exception. See Pic.

If you get a survey completed, title company should remove the exception at your request. Of course they won't do it on their own...you have to object to it if objections are allowed by your contract. 

No licensing required in Texas which is why the food handler at McDonalds can tell a seller that they're a cash buyer. 

In Texas, an assignor is required by statute to disclose in writing to both the seller and end buyer of the assignor's intent to assign the contract and that they're not "closing" on the purchase because they have no ownership interest in the property. Assignors are also prohibited from marketing the property...they can only market the contract and that too must be disclosed. These statutes are ignored 99.99% of the time because the assignors never bother to understand that states generally have regulations on this type of activity. Instead these newbie assignors simply follow some guru's advice who likely has even less knowledge of state laws than the trainee assignor. 

Texas has 3 statutes on the books regarding assigning a contract. Very few assignors abide by the statutes and there have been virtually no consequences for those assignors violating said statutes. As such, I doubt assigning will ever go away, in any state, despite regulations. Those regulations will be ignored until there are consequences for ignoring them. 

The Correction Instrument / Affidavit will "correct" the improper legal description for all succeeding sales, assuming of course the Affidavit was filed in the real property records in the county in which the property is located. That is the purpose and function of a properly drafted and filed correction instrument.