All Forum Posts by: Account Closed

I would spend half of it on women and liquor and I would just waste the rest.

Even though he wasn't legally required to, I find it troubling that a real estate agent failed to disclose this significant fact. Realtors are sworn to adhere to a moral code and I , personally, feel that this is an ethical lapse.

They have members on the board of directors of the banks.

If you structure the deal this way you might as well write off ever getting any more money out of it. What happens if dad goes bankrupt or is sued or if he goes to a nursing home and all of it is eaten up nursing home bills. Perhaps you need to encumber the property some how to protect your interest yet charge no interest or require any payments.

$54.37

Because wholesaling has no barrier to entry. No money, no license, no education, no knowledge. No problem. Book readers muck up the industry for competent wholesalers.

Your bring up a great point that the main selling strategy for listing agents is reducing the price. Very little goes out of their pocket while a huge chunk goes out of your's. A trained ape can sell a big ticket item for 80% of market value. The term in the sales business it that they are "order takers".  My contention is that a sales agent should only receive compensation based upon the amount OVER 90% of the market value. The commission may be 50% on that. As an investor, we often don't get paid until we achieve at least 80% of market value. We aren't rewarded for giving a property away.

And just to think that some people say that you can't sell without an agent.

@Jeff S.in your above example, if the borrower brought $2000 to closing, you would receive $100000 from the lender. If the lender rolled the points into the loan then the borrower would only get 98k at closing.

Didn't you inspect before you bid?