All Forum Posts by: Scott T.

@Storm S.   Well if they ever 'awaken' (especially the 80% of 'agents' who QUIT within two years, when they can't "fish, in the big pond" with the "sales sharks," because they "don't have the work ethic," or simply aren't that outgoing, and/ or 'salesy...') THEN they can join my Western worldwide 'franchise?' Otherwise, they won't be able to 'compete' any better than the MLSers, or the wholesale 'low- ballers.' (i.e. He or she with the BEST SOLUTION will ultimately WIN...)

@Wayne Brooks   So you think... And yes, I 'studied' what the gurus are selling (perhaps 1500 hours of my 'spare time,' in the first year...) and I didn't buy, save perhaps a grand on various lease option courses, to access their forms and agreements, vs. paying an attorney or three $5- 20k. Then I "one- upped" it. Nothing NEW? What have you got to 'wager,' on that?? And the last 'options' package I sourced claims an 85% 'closing' rate, even with cooperative LOs. And unlike a 'realtor,' I CAN SAVE THEM a minimum of 10%. (More like 15% on average, as near as I and many others are calculating. As for wholesalers, even higher... than that. I now see you do 'short- sales.' Figures. Why 'reinvent' the wheel, right??? And that's WHY realtors and REIs don't "mesh." (i.e. Because of a Pareto principal level, of 'conformity.'  ;-)))

@Wendy Patton  Thanks Wendy! Well you should know, of all people. :-) I think you, Joe Crump and a handful of others... are actually both (creative terms deal) knowledgeable and versatile REIs and 'brokers' here. I need to get the 'rules' and my terminology straight. I have a second meet- up next Friday with the same realtor. Hopefully I'll have my FACTS straight, or we'll end- up talking about "investment strategy" and "the market," or something else?! 

I would love to talk to you also, sometime. I have BIG plans for using: pure, cooperative and sandwich lease options, as well as subject to and owner financing acquisition, etc. strategies soon!

@Storm S. PM Suggestion: Offer to do so for less than the going rate, then "free" for a certain time frame, then say 10% thereafter? (i.e. For an extended gig... subject to performance and client satisfaction.) And CL is rife, with scams... I'd choose the neighborhoods you want to 'work,' then determine where the 'absentee ownership' resides and call the 'owners of record.' As for (buyer's market strategy) REI niches such as 'wholesaling...' I have MUCH better IDEAS. (I will generally pay 70%- 100% of ARV, vs. minus 70%, for e.g. Similarly, I can save people 10- 20% over the MLS approach. ;-)

@Storm S.  I hear ya! It's always: "That can't be legal!?' (More like "lawful... vs. "legalesed!") Or, the deer in the headlights, lOOk...

You are one "well studied" 19 year old, Storm! Are you also studying to get your broker's license, by 21? I hear from an REI friend in Gilbert, that she wished she's taken the test in Cali, before relocating here and then not passing it, the first attempt. And that 'jibes' with what the last agent told me, on Tuesday. This seems to me to be perhaps more of an IR$ (= IH$) 'bean counting' rule? However I knoweth NOT what blood oaths of secrecy, the entrusted 'agent' is dutifully bound by!? But seriously though, "public records," are merely that.

@Wayne Brooks

Sorry for the 'over reaction,' Wayne. I frankly don't understand (and never could...) why ANYONE would allow a bully like a large company, for example, "run their lives..." and I suppose that's why I was NEVER "employee material." This seems to be the basic challenge between the "need to know" (only) conventionalists, vs. the the "need to know more," crowd. Of course if everyone 'woke up' to what's really going- on in the shadows tomorrow... DC, the City of London, Brussels, etc. (and of course, mother ROME) would all burn! Have a good weekend or week, sir. :-)

@Storm S.

That sounds like what I heard and read in California when I started looking into REI about a year ago... and I haven't found anyone locally (now, in Phoenix metro) who can tell me WHY or HOW they seem to have no issue working with wholesalers, or 'referring' business back and forth with say mortgage lenders, etc., but don't think it's alright to receive a "check" for referring say someone about to loose their home, equity and credit??? I may be DONE with this angle, until I hire a broker (when I'm doing 100- 1000 deals a month soon?) as I don't seem to be getting anywhere with the NAR networkers? That's part and parcel of being a "contrarian" thinker, doer and investor, I suppose... but the 'short- sidedness' of people who are clearly AFRAID to "rock the boat," is very aggravating when I have a viable SOLUTION and many a RE professional lost their own HOME not very long ago.

But getting back to the 'post,' I meant to say that I don't see WHY a NON- CLIENT 'referral' is a violation of any NAR, etc. 'rule,' if they are NOT even a viable PROSPECT, because they don't have the EQUITY and/ or an otherwise listable property they say cannot afford to FIX, then LIST on the MLS, and not show- up at closing, with a check. Furthermore, I do intend to offer the higher- end abodes, etc. on the MLS, but I'm not starting with multi- million $ homes... unless perhaps I return to California, soon? Santa Barbara, eh? I was in south OC last, before heading back to Phoenix metro east after three decades in November, on a whim. If you have any nicer abode wholesale leads you can't 'work' due to low equity, etc., hit me up. ;-)

@Rich Hupper

GOOD POINT-  Q: "Most agents out there expect to get paid at closing only. When title is transferred and recorded. At least in my state this is the way it works. Agents cannot earn a commission until there is a transfer of title. This is how everyone is taught. Maybe this is why you are getting pushback from realtors about accepting a finders fee..." UnQ.

It seems to me that most realtors and brokers are indeed just working with wholesalers to remodelers (on the cleaner homes, that are or soon will be listable, in higher demand areas) and if they are on "straight commission" and the deal isn't DONE unless and until it's "closed," then that makes logical sense.

Conversely, I plan to utilize primarily a "get paid up front," model (As in say a WLO = Wholesale Lease Option deal) or similar (money down, then reassignment) approaches, after contacting people about to loose their home, and explaining that they do indeed have other alternatives... and then advertising my 'option,' etc., prior to reassignment. Afterall, it makes little sense to "stay in" ANY deal, atop the 'S' curve of a given market cycle... which we may already soon be approaching? 

Last night I thought of the near complete 'strategy' and business plan... and if I had the INVESTOR(s) I'd start developing it, on Monday... Such is LIFE when you're an "out of the sandbox" thinker, "going against the grain..." If I don't start this business model soon, someone else WILL and I'll be "kicking myself" (yet again...) for LIFE!? 

@Wayne Brooks

Aside from my typos and creative punctuation (I find it ODD that one cannot edit the title, for example, seconds after they post) I also made the above blunder of stating: "referring clients" vs. leads or more to the point, PROSPECTS (who RE, etc. agents cannot otherwise work with presently, or in the near future, mostly due to a lack of equity, vs. credit, debt to income, etc. reasons) because we (REIs like myself, or Wendy, for e.g.) can actually HELP these people get into a home, save for a down payment, while also getting their credit repaired (indirectly) and eventually BUY before or at the time their 'option' expires, vs. just taking the "most money down" and having an abysmal 70- 75% turnover (in the case of lease options) as so many used to DO. (And I suspect many former "buy- n- hold" landlords, and one large "working with the BIGGEST brokerages" entity with a very long "partnership" agreement, still DO.)

I suspect this is another reason WHY so few realtors, etc. want to be associated with REIs that 'specialize' in 'creative terms' agreements, which could (soon?) be solving the "home buying" (and reselling, after the coming 'correction' when the market cycles down again) issue for the MAJORITY that STILL cannot 'qualify' to BUY their own home, along with the MILLIONS (x10?) who cannot 'resell' (even under the current market conditions!) precisely because they would have to "bring a check" to the closing table, in order to move forward, and move on...

As for signing a "non compete," "non disclosure" and whatever else a realtor agreed they'd do, not do, or not "disclose..." (like what neighbor 'hoods' to avoid, for e.g.) it seems to me that perhaps I should rather A.) Only deal with BROKERS, vs. agents? B.) Only inquire about "under 15% equity" prospects no brokerage, or lender, etc. can or will work with in the next two years, or so. Or C.) Have whomever I do work with set- up a separate LLC (or I do, or utilize referrals from existing 501C entities?) that simply provide a 'referral...' and then in turn either advertise them on my websites, send them referrals back, and/ or 'donate...' to their cause. (?) I plan on building a LARGE nationwide network, so anyone who IS working with me will be very glad they DID, after the next so- called (and predictably 'cyclical') 'correction,' occurs.

:-)  Scott