Real Estate Investing Forums

Real Estate Investing => Bird Dogs, Wholesaling => Topic started by: Randoskie on November 08, 2016, 06:35:12 pm

Title: I don't need no Stinkin license
Post by: Randoskie on November 08, 2016, 06:35:12 pm
I just got a call from someone claiming to be from the real estate licensing bureau. He had an unknown number as it wudnt show up on my call screening. He says we got a call about some houses your selling and that your doing it with out a license and that's what we do down her is issue licenses.
I tell him I'm a real estate wholesaler and I don't need a license but thanks for calling and I hang up.
The phone rings again and he says we somehow got cut off, I say, we didn't get cut off, I hung up on you. Well we need to talk more about real estate wholesaling to see if you need a license. Because if your buying and selling houses you need a license.
I tell him that's B__S___.
I get these properties on contract with an earnest deposit and that gives me equitable interest. Now stop bothering me.
I again hung up, and he hasn't called back.
Maybe some asswipe realtor called, they hate us wholesalers, especially me, my name is all over town, I met another wholesaler a while back and he says, so your the famous Rando.
Probably the best thing I like about my job is I don't have to answer to any frikin license board and play those games with rules and regulations.
If I wanted to deal with all that and work for chump change and be jealous of wholesalers I wud become a realtor.

Let's make some Money...

rando
Title: Re: I don't need no Stinkin license
Post by: javipa on November 08, 2016, 06:46:38 pm
So funny!

I played like I was a stupe, once when that happened to me.

An agent demanded to know my real estate license number, so she could report me for stealing listings.  Never mind she could have looked me up ...if I 'was' in fact a licensed real estate agent.  Just for giggles, I gave her a bogus number, that was too many numbers, and she just about had an out-of-body exorcism on me.

You know it's worse for them, when you laugh? 

Earlier that day, I had placed a business card on the door of a listed house, with a note on the back suggesting the seller call me when their listing expired.

Oh, the fur that flew... 
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 08, 2016, 07:48:03 pm
Haha, that's funny. I once had a seller call me on my I Buy Houses for Cash ad, I made a low offer and got the house on contract, then later I find out it's listed. The agent called me asking what was going on, I told him the seller is obviously not happy with your performance, He tells me he's seen a lot of investors come and go, I tell him I've seen a lot of realtors come and go and mostly go, He came unglued and started a barrage of ranting, I said, hold on a second, I hit record & my google voice comes on and says, this conversation is now being recorded. All I hear is a.... Click.
The seller called later and I let him off the hook and tore up the contract.
If you want to drive a realtor crazy, you put them in a round room and tell them there is a nickle in the corner.
Title: Re: I don't need no Stinkin license
Post by: javipa on November 08, 2016, 07:55:07 pm
I am laughing SO hard!!!   :biggrin :biggrin :biggrin
Title: Re: I don't need no Stinkin license
Post by: Redstar1324 on November 08, 2016, 08:29:24 pm
That's great, but if everything stays like it is...

Trump will get 308 electoral votes and win.

Looks like we're safe.
Title: Re: I don't need no Stinkin license
Post by: javipa on November 08, 2016, 09:48:30 pm
I don't want to generalize, too much here, but many of these listing agents are lying sacks of bull manure.

They're objective is more about listings, and less about selling. 

Their clients get duped into believing thier agent has their back, when at best they just list their house at an inflated price, hoping someone will come along and not bang the pot too hard on price.

And when the house fails to sell, or attract enough/any attention from buyers, the listing agent offers all sorts of excuses to justify the lack of activity, or interest ...never mind coming up with solutions that should have been offereed from the get go.

To be fair, some agents understand marketing, and do get results.  They are few.

Meantime, the sellers are left to suck drain water waiting for 'some action', and worse, feel overly vulnerable when their agent appears out of nowhere, with an offer to re-up the listing.

So, when one of these sellers finds my card stuffed in their door jamb, they eagerly call me to talk turkey.

When an agent intercepts my cards in their client's door jamb, I get mean, nasty, and threatening calls.

My position is, if the agent were honest, skilled, and knew how to market houses, instead of listings, I would never have the chance to talk with their clients.

Meantime, I make in thirty days, what the average agent makes in twelve months, and do it on one deal.  And nobody ever complains about my performance.

Yay for flipping stale listings.
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 09, 2016, 12:15:25 am
I have told many sellers that were thinking of listing their houses. An agent will promise you more than the house will sell for, just to get the listing. They will leave you high and dry, & then after 6 months and several price drops & your house hasn't sold, you can give me a call.
I've lost thousands of dollars because agents have told sellers that what I'm doing is illegal, the sellers believe it cuz after all they have a license. What I dislike about them the most is their know everything attitude and giving out legal advice because they passed the 2 day class and the realtors exam.
I cud go on and on about my dislike for realtors, but, I don't want to get in a bad mood. I'm watching election results.
Wow, I think Trump might just win.
Let's make America great again.
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 09, 2016, 10:24:38 pm
So Javipa, give us a run down on exactly what your doing. Your targeting listings that have been on the MLS for 90 days or more?
Do you negotiate a substantially  lower price than the MLS price. You wait for the listing to expire?
I want more info, I want in.

rando
Title: Re: I don't need no Stinkin license
Post by: Luke9686 on November 09, 2016, 10:43:25 pm
Rando,

A deal I'm in the middle of I'm taking subjec to, loan balance is $82K with payment of $775 PITI.  I've got it resold with owner financing for $124900 with $12,500 down and monthly payments of around $1150/month PITI.

So I got the $12,500 down, monthly spread of around $400/month with a $30,000 backend profit.
Title: Re: I don't need no Stinkin license
Post by: javipa on November 10, 2016, 03:37:59 am

So Javipa, give us a run down on exactly what your doing. Your targeting listings that have been on the MLS for 90 days or more?
Do you negotiate a substantially  lower price than the MLS price. You wait for the listing to expire?
I want more info, I want in.

rando


>  OK, no I don't negotiate big discounts, because my overhead is practically non-existent (apart from my marketing costs). 
>  Stale listings aren't necessary, but increase the likely motivation.  If you get to the sellers fast enough, and they're truly motivated, they'll drop their listings faster than Macaulay Culkin's underpants at a Michael Jackson slumber party.
>  Listings don't have to expire. 
>  When I get a deal, I have the seller tell the listing agent to take a hike, and somebody pops the sign out of the yard.

I dished out an example some years back, and was excoriated for giving 'unrealistic examples' of what could be done, and that I was just trolling for business.  One of these critics summarized a deal I provided and I laughed, because it DID sound like a hyped up fantasy deal.  It sounds different when someone reads back to you what you wrote... So, I've stopped sharing my deals, and stuck with giving feedback instead. 

That said, and since my critics have long since disappeared, I can tell you what I'm doing, despite the fact that I sell this information.

The following example is NOT my primary way to find deals, but it's one great way ...one more hook in the water, as it were.

Meantime, here's an actual deal you can reverse engineer for fun and profit, and to shoplift my intellectual property (j/k):

*  I got the suspects with a stale listing on a $495,000 house to call me.
*  I confirmed the comps, checked the title, and reviewed his equity situation.  I don't mess with upside down deals.
*  He wasn't upside down, so, I met the suspect at the property to make my pitch, and confirm he had at least a 10% gross equity.  He owed $450,000
*  I qualified the suspect five different ways, and he survived my process.
*  I made him a very tiny cash offer, based on the fact that he had effectively no equity (by my definition) and worse, I showed him that he would be out of pocket, waiting months to find an actual buyer, willing to pay full price, and with financing ready.
*  Instead, he signed my 1-page agreement, and we scheduled a final closing.
*  We closed and I gave the seller the money I promised.  $5,000.
*  The seller gave me his deed, and I took over his payments on a $450,000 first.
*  I emailed the two buyers with the $55,000 down payment I wanted, that responded to my seller-financing ad on my now $550,000 house.
*  The first buyer to give me the down, owned the house.
*  I literally deposited the first buyer's down payment in my bank, had the buyer sign my installment contract, and I gave him the keys, in that order.

Meantime, I jacked up the resale price to bring up my back-end profits, and overcome the risk I was taking by offering no-qualifying financing to an unqualified buyer, which after Dodd/Frank is legally impossible to accomplish without running your buyer through a loan originator.  My buyer still wouldn't qualify, because he mostly had awful credit, and an unverifiable income, which made my financing so attractive in the first place. 

Never mind the house was six years old, with a pool.  Which brings  up another reason I don't flip obsolete 'dumps' from say the 1990's.  Nobody wants to give me the big bucks for tired, older houses.

Meantime again, I didn't sell a bargain.  I sold bargain financing (relatively speaking) on a house that everyone wanted to own. 

And that's how I make more in 30 days, off one stale listing, than the average agent makes in a year (which is about $35,000 last I read). 

Now, the questions come:
1)  How come a pretty house with a pool wasn't selling?
2)  Why didn't the seller just reduce his price?
3)  Why didn't the seller get a new agent?

This price point was moving a little slow.
The agent was a little too busy with 'faster' deals.
The seller couldn't lower the price, because there wasn't enough equity to cover all the expenses.
The seller was more motivated than the agent understood.
I came along and promised a faster option, that wasn't going to cost him anything.
My offer became a no-brainer.

Title: Re: I don't need no Stinkin license
Post by: Redstar1324 on November 10, 2016, 08:35:24 am
If I read this correctly, the seller was willing to take just $5,000 when he had $45,000 equity?
Title: Re: I don't need no Stinkin license
Post by: Luke9686 on November 10, 2016, 10:14:09 am
First thing to realize is that equity isn't real.  It's an artificial number floating out there.  Sure, there was a $45K spread sitting there, but they had no way to access it.  By the time the house sold through traditional means, the "equity" was actually negative equity.  Jay provided a value to all parties, showing the seller his equity was really a negative number and giving him $5K for it.

He then provided value to the buyer through non-qualifying financing.
Title: Re: I don't need no Stinkin license
Post by: Redstar1324 on November 10, 2016, 10:49:32 am
How was it negative by the time he sold it?

Are you talking about realtor fees and closing costs?
Title: Re: I don't need no Stinkin license
Post by: javipa on November 10, 2016, 12:50:33 pm

If I read this correctly, the seller was willing to take just $5,000 when he had $45,000 equity?


Yes, you read that correctly.  If the house had been vacant, I would have negotiated less money.  After all, he was making payments on a vacant house, and I was about to save him from spending another five to ten thousand in overhead, while he waited for a cash buyer. 

But he was gonna make house payments somewhere, so the issue came down to 'moving money.'  Frankly, where I'm at, $5,000 barely gets the seller out of the driveway.  It can be expensive to move in/out; come up with rental deposits; and advance rents.
-------------------------------------------

Luke described how the equity situation works, beautifully.
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 10, 2016, 01:31:21 pm
Haha, it does sound like BS, I've done a few similar deals with underwater houses, It's interesting that buyers will pay more for a house than it's worth if they can walk right into an  existing loan with no qualifying.
But I have a mental block, I can't wrap my head around houses that cost much more than 100K. I've flipped so many in the 40-60K range. Time to kick open the gate.
But if I ever made over 50K on a deal I wud run thru the street naked on a full moon lit night shaking a bull frog and go full retard.
It's time to learn some new skills. I got so much to learn.
How much is the Javipa course?

Rando
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 10, 2016, 02:24:09 pm
I just seen a news report that the Trump team was working on repealing the Dodd Frank BS Law.
It seemed to me it was a screwed up law, why can't I make an agreement with a buyer to pay me my equity in monthly payments with interest without going thru a friking loan originator.
If my buyer and I come to an agreement, keep ur government ass out of it. I'm already getting taxed to hell.
Title: Re: I don't need no Stinkin license
Post by: javipa on November 10, 2016, 03:32:06 pm
I totally agree with you Rando about government interference in a private transaction.

Without going into all the details, Dodd/Frank was put into law to hobble private financing.  That's the end of it.

Meantime, now, when a seller has to pay $1,500-$2,500 to get his buyer approved through a loan originator, it puts the brakes on a LOT of deals.  Never mind being forced to finance a buyer for no less than five years.  And fixing the interest rate, despite the  underlying loan adjusting to a higher/lower rate in the meantime.

And ...if you can't/don't qualify the buyer through a loan originator, the borrower has the legal right, as a result of Frank/Dodd to literally "decide" that the can't afford the payments; stop paying you; squat in the house; claim that he was in fact an unqualified buyer; and demand all his money back ...everything; down payments, interest, and principal paid to date.

Imagine after three years, you've collected seventy or eighty thousand dollars in down payments, interest, and principal from an 'unqualified,' and now-decidedly defaulted borrower/buyer, and he sues you for the return of all his money ...all because you were willing to take a risk by financing a predator borrower?

Of course, I use a tool that insulates me from predator borrowers, that I don't share publicly.  I mean, why give the government a heads up on how I can circumvent their efforts to bankrupt me?

In fact, just sharing this much gives lawmakers fresh ideas on how to undermine the free market and capitalism when it comes to real estate investing. 

Back at the ranch, the average, unsophisticated Joe finances a buyer that's willing to give him top dollar, but Joe has no idea that he's breaking the law, much less putting himself at an extreme disadvantage, by ostensibly financing a predator borrower. 

What are his options, besides giving back all his money?  Never mind having to spend a year in court getting the deadbeat of out his house. 

This was the result of putting free-market eschewing and constitution-hating Democrats in control of three branches of government. 

Worse, Dodd/Frank required states to adopt their own versions of itself, and unless each state legislature votes to unwind their versions of their Dodd/Frank stench, the stank remains.

Title: Re: I don't need no Stinkin license
Post by: javipa on November 10, 2016, 04:45:35 pm

Haha, it does sound like BS, I've done a few similar deals with underwater houses, It's interesting that buyers will pay more for a house than it's worth if they can walk right into an  existing loan with no qualifying.
But I have a mental block, I can't wrap my head around houses that cost much more than 100K. I've flipped so many in the 40-60K range. Time to kick open the gate.
But if I ever made over 50K on a deal I wud run thru the street naked on a full moon lit night shaking a bull frog and go full retard.
It's time to learn some new skills. I got so much to learn.
How much is the Javipa course?

Rando


I pm'd you with some details.
Title: Re: I don't need no Stinkin license
Post by: dreamchasing on November 11, 2016, 08:52:55 pm
I'd like to know about your course please too, if you don't mind. I'll look into that link by your name as well.
Title: Re: I don't need no Stinkin license
Post by: dreamchasing on November 11, 2016, 09:10:19 pm
Hey Javipa appreciate the how to find motivated seller list
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 12, 2016, 05:27:48 pm
STATE OF CALIFORNIA
BUREAU OF REAL ESTATE
2550 IUABIPOSA I,4ALL, SUITE 3O7O
FRESNO. CA 93721-2273
(559)445-5009
November 09.2016
MT. RANDY PHILLIPS.
CLOVIS, CA 936,12
CaIBRE File #:6-1 6-0921 -001
Dear Mr. Phillips:
1 \'i:ar specific real estate services do you provide?
2 !ow long have you been providing these services?
3 Do you work independently, or for another person or company as an employee (W-2) or
independent contractor (1099)? Please identify for whom you work for and provide any employment
agreement(s) you have in this regard.
4. How are you paid for your services? Please submit proof of compensation. 5. How many transactions have you completed in the past year? Please provide copies of the
pertinent documents for those transactions, including, but not limited to, purchase contracts, other
contracts, escrow closing statements, etc.
6. Are you operating under the authority of a license issued by another California agency or under an
exemption from the Bureau of Real Estate's licensing laws? lf so, please identify the licensing
agency and/or explain how any claimed exemption applies to your activities.
Your answers to these questions and any supporting documentation should be forwarded to my
attention.
 You rnay contact me at (559) 445-0004 with any questions
Thank you in advance for your cooperatron.
Special lnvestigator
Fresno Enforcement Office

Haha, I enjoyed sending them a F___Y__ Response
Which I just mailed.
Some body that knows me and my home address sent them a complaint, I suspect it was the psycho bird dog that filed a workmans comp claim on me last year and never showed up at the hearing.
I actually enjoy pissing off these a holes. These will be good fodder for my new book.

Let's make some Money.....

Rando
Title: Re: I don't need no Stinkin license
Post by: Gold River on November 12, 2016, 08:48:12 pm
Hi,

    Rando in late 2004 California's Franchise Tax Board decided in their infinite wisdom to start a witch hunt on my company, we had offices in Irvine since 2001 and I lived in the Spyglass Hill area of Newport Beach. I could drive up Jamboree to home in 5 minutes for lunch!

The Franchise Tax Board went after our worldwide revenue and profits, we had no California income and only had a office there for convenience because some of my original associates came out of the southern California heavy construction industry.

They felt entitled to tax us as they felt we owed them something! This was a huge bill and was not the little here's a few bucks and it goes away.
We were actually a primary corporation in another state and had incorporated in California to provide office space and pay associates for their work.

We had offices in our primary state of operations and in fact had incorporated two years before, we had our banking in another state and primarily operated day to day from our primary state offices, the state of California forced us to defend our self in court, tried to seize our out of state bank accounts generally bullied us.

It took us almost two years battling and filing motions in court to finally get a decision that California over stepped there authority and had no right to revenue consolidated in another state. It cost us hundreds of thousands of dollars in legal fee's, expenses and court costs, we closed our offices in late 2005 and left California. I sold my home in Newport Beach and basically said screw you!

Now we still do business with Marsh and AON and still have part of our audit and tax work done by PWC and McGladrey in Irvine, but for all intent and purposes were pretty much done with California. We do own some mining properties in California but thus far have not been able to get permits to develop and operate because of EPA issues.

California can be an interesting state as there over reaching before thinking has gotten them into many problems!

Good luck getting through this and remember not everyone in California working for government is very sharp.


                      GR
Title: Re: I don't need no Stinkin license
Post by: Redstar1324 on November 12, 2016, 09:01:27 pm
Screw California. Let them secede.

President Schwarzenegger or whoever their governor is.
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 13, 2016, 12:25:10 pm
The California State Tax board has garnished my wages and emptied my savings account on several occasions.
You can imagine my feelings on how I feel about them and their Gestapo tactics.
I paid $400 to register my Harley, $600 to register my Honda Accord, and my new Toyota Tundra was going to cost $2,000 for taxes and registration. So I registered it in South Dakota for 450 buks
We are getting taxed to high hell over here, more laws and restrictions every day, now I believe a new law came into effect that there is going to be a back ground check and waiting period for buying ammunition.
But, there is a lot of money making opportunities here, and its a great place to live if you got money, and I always have my cave in Northern Idaho to retreat to when I want to hide out from Redstar and the tax man.
Title: Re: I don't need no Stinkin license
Post by: Redstar1324 on November 13, 2016, 12:34:41 pm
What size postcards do you mail out?

I'm going to do 6" x 9".
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 13, 2016, 05:15:56 pm
Redstar, You can send your questions to Randoskie at the Cave, 1213 Grisly Bear Trail, Moose Scat, Northern Idaho USA
I usually check my mail twice a year, in spring and in Fall.
Title: Re: I don't need no Stinkin license
Post by: Redstar1324 on November 13, 2016, 05:31:32 pm
Awesome
Title: Re: I don't need no Stinkin license
Post by: javipa on November 14, 2016, 05:19:31 pm

Hey Javipa, just read through your gold mine of a motivated seller finder list. Who's the hottie on the cover holding the fish?


LOL!  That's a guy looks like my deep sea fishing friend, so I used his photo.  That's not me unfortunately.   :biggrin
Title: Re: I don't need no Stinkin license
Post by: javipa on November 14, 2016, 08:29:52 pm
[Edited]
Gold River, you're not alone in being chased out of California.  I've lost count of the number of businesses that have bailed on California for other states, because of regulation and taxes.  It's literally thousands over the last ten years.

California's four decade hostility to business is coming home to roost, as it becomes desperate for taxable income, in order to realize it's wet dream of becoming a socialist Utopia.

Meantime, the earth-worshiping, anti-business elitists in Northern California (aka Bay Area socialists) are cronied up with Sacramento lawmakers, who work together to consistently make it harder and harder to do business in California.

Protection of the environment is their number one tool to this end.  This is most evident with the dust bowl they created out of the San Joaquin Valley.  The state has refused water to farmers, including the forced rationing of their own ground water.

Never mind the refusal to approve new reservoirs that would provide enough water for agriculture needs, and reduce the state’s vulnerability to drought. 

That’s just the tip of the iceberg.  According to 'bizjournals.com,' 9,000 corporations have moved from California to Texas alone, since 2008.  That's NINE THOUSAND companies moving out of California ...just to Texas!

Here's a link to an exhaustive, 450-plus page, 2015 report that spells out the carnage.

http://www.spectrumlocationsolutions.com/pdf/Businesses-Leave-California-.pdf

The question comes, "How will real estate fare, as the economy continues to decline and employers continue to leave the state?”

Meanwhile, California is already operating at a deficit, and as it chases away ever more business, and offers ever fewer employment opportunities, it's either going the way of New York State that boasted the most millionaires lost among the fifty states, according to an article in the Observer dated 9/7/14 that headlines, "Idaho, North Dakota and Wyoming Should Not Beat New York in Anything," or it will go bankrupt, as it creates the most onerous tax burden of any state in the nation.

As taxes and regulation continue to increase, the real estate developers and investors will have to overcome increased development costs, and likely slow the industry.  Further slowing the economy. 

I suppose that 'things' will level out and adjust, relatively speaking; as the more wealthy, remaining California businessmen and investors operate in California’s socialist, anti-free market slum.  I don’t know.

However, that would mean there's going to be a LOT fewer players able to play, which is exactly what the cronies are after, and which has resulted in New York state, despite their propaganda.

Overcoming socialist cronies will increasingly become a big player's game.
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 19, 2016, 05:49:48 pm
I called this Bureau of Real Estate a few mornings ago. The guy answering the phone asked if was responding to the letter he sent and cud I send in my paperwork showing the deals I've done and the escrow papers so he could review them and determine if I was operating legally or I need a license.
I asked him if he had ever heard of the term Wholesaling real estate? and I told him to write down the term equitable interest.
I told him he has no jurisdiction over me and I refused to send him anything. He told me I needed to go thru the real estate laws and point out the paragraph that shows I am operating legally. I told him I don't need to do nothing and I suggest he get an education on wholesaling real estate and learn what equitable interest means.
Then he tells me he might be filing a cease and desist order. Then I told him he may be liable for harassment on someone that is operating legally.
He's probably a former realtor that cudnt make a living like so many others and got a job with a steady paycheck and thinks he knows everything.



Title: Re: I don't need no Stinkin license
Post by: javipa on November 19, 2016, 07:23:19 pm
REBUR:  I might be filing a cease and desist order against you.

RANDO:  Cease and Desist order?  Against what?  You don't even know what to tell me to stop doing.

REBUR:  Well, you're doing 'something illegal,' until you prove it's not illegal.

RANDO:  Sir, where do you keep your broom?

REBUR:  I don't know what you're talking about.

RANDO:  Where do you keep your broom?

REBUR:  I don't have a broom.

RANDO:  What about the one you rode in on? 

Title: Re: I don't need no Stinkin license
Post by: Gold River on November 19, 2016, 11:35:19 pm
Hi,

    Now I'm laughing, this sounds a lot like the crap I went through 12 years ago! Although it was not funny at the time this sure stinks like the California bureaucracy and the know it all state employees who put there foot in their mouth before thinking? Do any of these state employees have half a brain and can't they figure out your not a realtor and do not list or sell property for a commission?

It only takes about a 2 minute conversation with an attorney to figure out what "Equitable Interest" is and how it's defined and used! The problem with government is the right hand does not know what the left hand is doing, there so busy doing there quote "Job" to pull their head out of the south side of a north bound bull! I mean it does not take a rocket scientist to understand or discern the difference in listing / selling real estate and selling your interest in a legal contract!

If it wasn't so damn stupid and such a waste of tax payer dollars, so yes Rando someone ratted you out! We can put some dog crap in a bag and light it on fire on this guys front porch and ring the bell? Or toilet paper his favorite tree? Or wrap his car in shrink wrap? Yes, paybacks are a bitch! Lol

Just a little common sense and a quick phone call and this guy could go pick on someone else found guilty until proven innocent!

So I am off to my little log cabin to chew on venison jerky and tell stories around the old fire and sip a little moonshine!

Good luck,

 
                  GR



 
Title: Re: I don't need no Stinkin license
Post by: Randoskie on November 20, 2016, 12:49:59 am
Haha, yea I know someone turned me in, because the licensing bureau has my home address, they can't get that off my ads on CL with the google number, and the dipwad tattle tale that comes to mind is the discrunted bird dog that never showed up to the California labor board hearing last year, or was it the year before?
Because realtors don't know my home address so I don't believe it was one of them.
I think the old bird dog is pissed cuz he's still reading about the deals I've been doing on this site.
I sent him an email with photos of my new airplane and new vehicles and photos of the recent checks that I made 40 grand in one month. That shud really send him over the top. Maybe I shouldn't have, but, hell, it's fun.
I called him a psychotic old has been and if he hadn't been such an a hole I wud of showed him how to wholesale houses, or he cud just buy my new book on Kindle first of next year for $2.99
I hope to become even more successful and wealthy and have many more attacks, that's when I know I have made it.
Title: Re: I don't need no Stinkin license
Post by: utahbrian on December 05, 2016, 01:23:09 pm
Loved that one, but for general information they used to send a letter, not make a phone call if it was the state. I have gotten several of these calls over the years on ads etc. and most were investors trying to eliminate some competition and agents who were trying to list a property I was interested in. I just used to use my first name and a 800 number, which captures the callers number because your paying for the call. They didn't know who they were calling and just assumed they could play hardball.

The agents hated it when their broker called them into their office, and explained the law to them and that they could find themselves in front of the DRE and The Bar Association, and the guy you tried that on has been a broker and investor since before you were born.

Title: Re: I don't need no Stinkin license
Post by: Randoskie on December 05, 2016, 01:36:47 pm
The dipwad that called and sent me the letter is from our local RE licensing office, I'm thinking of filing a complaint with the State office in Sacramento. Just because I can be a dipwad too and it cud be fun and satisfying, or maybe I shud let a sleeping dog alone.
But yea, it seems he shud know the law and not to bother wholesalers that are operating legally.
Title: Re: I don't need no Stinkin license
Post by: Randoskie on December 05, 2016, 03:19:46 pm
California Bureau of Real Estate.                                                                                                                                         1651 Exposition Blvd.                                                                                                                                                Sacramento Ca 95815                                                                                                                                                                   

To whom it may concern.
I have recently been contacted by phone and letter by a Mr. Ernie Ruiz Special Investigator Fresno Enforcement Office that I may be operating illegally by flipping and wholesaling & advertising real estate.
I explained to Mr. Ruiz that he was incorrect that I in fact was operating legally because I get these properties on contract with an earnest deposit which gives me equitable interest and the legal right to buy and sell and advertise any property in the USA without a real estate license.
Mr. Ruiz insisted I prove to him that what I was doing was legal by showing him in the book of California real estate laws and regulations that gave me this right.
Mr. Ruiz’s letter was a demand or request that I present all the deals, escrows and etc. that I had completed so that he may review them to see if I was operating legally. Of course I refused because he has no jurisdiction over me and my dealings and no right to interfere with my legally operated business.
I suggested to Mr. Ruiz he write down the term equitable interest and do some research.
Mr. Ruiz then threatened me with a cease and desist order.
I explained to Mr. Ruiz that he could be liable for harassment to an investor operating legally.
My intention is only for Mr. Ruiz and other ignorant realtors to acknowledge that they are not proficient in real estate law and realize that real estate investors do not need a real estate license.
If you can instruct Mr. Ruiz that he is in error, so that I won’t be bothered by his future phone calls and letters and also to prevent him from harassing other legitimate real estate investors.
 I would greatly appreciate it.
Thank you.
Randy Phillips


Title: Re: I don't need no Stinkin license
Post by: Randoskie on January 14, 2017, 09:17:56 pm
I just received another letter from the Real Estate licensing office in my city. This time it was from another special investigator in the same office. I immediately sent a return letter telling him where to stick his letters.
I suspect that maybe a certain grouchy homeowner that told me to stop sending him post cards is behind it all. A city employee drove by my house and seen a bandit sign on my front yard that I buy houses and I got a formal letter telling me that was against county ordinances. I made 8 grand off of that sign and hated to remove it.
I also got a letter from the city requesting I get a business license. I removed the sign but told the city to suck pine tree pitch.
The grouchy homeowner wudnt tell me who he was or his address, so he keeps getting my post cards. If I knew who he was I wud probably double up on the post cards to him and send him a package of fresh fertilizer. All future mailings won't have my return address on them.
One of the best things about wholesaling real estate is the minimal amount of government interference.
But, it wud be too boring with out some.
Let's make some Money......

Rando

Title: Re: I don't need no Stinkin license
Post by: Frank C on January 15, 2017, 08:59:30 am
I would be a little careful if I were you.

Some years back, I was following the case of a real estate guru, one Joe Kaiser, and he derisively dismissed matters when the authorities got after him, and posting about it. He also claimed he got "equitable interest" in the properties he acquired. The key here is he how got hold of the properties real cheap and what he represented to each owner when he got it so cheaply.

Finally, the Washington State AG banned him from doing any real estate deals in the state, see:

http://www.atg.wa.gov/news/news-releases/pay-time-notorious-foreclosure-rescue-scammer

I don't know all the details of how you do business, compared to Joe Kaiser, or the consumer protection laws as they pertain to real estate sales in CA. Here in NY where I live, I know they finally  passed the "Home Equity theft prevention act" that puts the brakes on various types of creative real estate dealing. But that's another long story.

Click the "Case background" link in the article for more details.





Title: Re: I don't need no Stinkin license
Post by: Randoskie on January 16, 2017, 03:12:10 am
Frank C,

The link you included tells the story of some con man targeting foreclosures and stealing elderly people's homes.
As wholesalers, what we do is slightly different.

1 We don't do foreclosures.
2 We negotiate a purchase price with seller and pay for their houses in cash.
3 We don't steal people's houses.
4 We use Title companies, do escrow and title insurance.

Are you familiar with wholesaling real estate, or did you get on the wrong forum?
Title: Re: I don't need no Stinkin license
Post by: Frank C on January 16, 2017, 08:03:58 am

Are you familiar with wholesaling real estate, or did you get on the wrong forum?

Rando:

No need for insults, I only urged you to be cautious.

I've been a real estate investor for nearly 40 years and attended REI club meetings, hung around RE websites, studied RE in NYU school of continuing education for just as long, and even got a stinkin license. If I missed real estate wholesaling, I must be blind, stupid, or retarded.

BTW, being in the right forum does not make anyone an expert.

I know the article mentioned had to do with foreclosures, but the bigger issue has to do with "consumer protection laws" which the authorities can twist any way they want, against wholesaling, foreclosures or whatever. I cannot see consumer protection laws only apply to foreclosures, not wholesaling.

Joe's main offense appears to be "misrepresentation" which could exist in any transaction. This often happens where there's seller's remorse, when they found out, true or otherwise, they sold the property too cheap. No where in the complaint was it mentioned he had no license.

Seems like your position as a wholesaler, no laws apply to you, either Real Estate, Consumer Protection or whatever.

You also announced with pride here that you told the authorities where to stuff it. I mentioned in my post I am not an expert on consumer protection laws in CA, and cannot tell how you are in violation. I'm a believer of if there's smoke, there's fire, so if the authorities write you to desist, I would consult an attorney instead of telling them where to stuff it.

I guess Special Investigator Ernie Ruiz to be just as retarded as I am for not visiting the right forum to bone up on wholesaling. With your bad attitude, I can see Investigator Ruiz can come down after you like a ton of bricks and get the last laugh, that is, if he has any pride left in him. 

And if you received notices from someone else in the office, usually, that means to me the original investigator referred the case further up the chain. That happens in code enforcement offices around here when they encounter wise guys.

I can see him saying "Let's go out there and get 'em" with relish.

Title: Re: I don't need no Stinkin license
Post by: Randoskie on January 16, 2017, 04:10:19 pm
Sorry to get ur panties in a bunch. I have that effect on people. My smart mouth has got me in trouble sometimes and often regret what I say and do. But on the bright side, I've made a ton on money by not taking crap and by jumping in when I shud be more cautious.
My intention was to piss off those real estate bureaucrats and to confront them with the BS they handed me. I'm sure right now they are up to here with their self importance and wud come after me with a vengeance, if only they could.
I won't be needing an Attorney to operate a legal wholesaling business despite threats from these ignorant pencil pushers.
I have never heard of wholesalers stealing properties, a cash offer is made, seller accepts and signs the contract.
I used to be a wallflower afraid of my shadow. that didn't get me anywhere.
Take control, make friends, make enemies, & have fun.
Let's make some Money.....

Rando
Title: Re: I don't need no Stinkin license
Post by: DrewWillDO on January 29, 2017, 12:40:44 pm
Hey Guys,

Good stuff, thanks for sharing Javipa. Question, when do something like this with seller financing how do you go about getting perspective buyers? Do you try to line them up first?  Thanks again,
Drew.
Title: Re: I don't need no Stinkin license
Post by: javipa on January 29, 2017, 04:17:48 pm

Hey Guys,

Good stuff, thanks for sharing Javipa. Question, when do something like this with seller financing how do you go about getting perspective buyers? Do you try to line them up first?  Thanks again,
Drew.


Before I had my first house under contract, I was as nervous as a pregnant nun, that I wouldn't find a buyer fast enough, or without having to make giant house payments for several months, while I scraped up a buyer.  And my nightmares came true.

That was before I learned to market a specific house to a specific buyer in real time.  Once I learned to do that, it made no sense to build a buyer pool.  Each house was unique and would appeal to a unique buyer, and lo and behold none of them happened to be on my buyers list.  Notwithstanding, buyers have a short shelf life, and aren't worth collecting.   
========================

I just saw a great example of a terrible 'seller financing' offer on craigslist yesterday. 

The investor (evidently) contracted to sell a listed house on terms, and he had about five different ads saying roughly the same thing about offering 30-year financing with 10% down.  That's fine, but that's not what gets buyer's excited.  The investor left out the exciting things, and assumed his seller financing trumped all that. 

From the feedback I get, buyers are as leery of seller financing offers, as they are of free candy from the guy sitting in the windowless van in front of the school.

So, my offers must appear legit; focused on a specific buyer; and reflect a real deal.  Failure to do these things, and I might as well build a buyer pool.  At least I'll feel more secure as I fail to characterize my houses, and pitch mis-fit buyers.
Title: Re: I don't need no Stinkin license
Post by: DrewWillDO on January 30, 2017, 09:20:45 pm
Appreciate the advice Javipa