I don't need no Stinkin license

[Randoskie]

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.

[javipa]

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.

[javipa]

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.

[dreamchasing]

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.

[dreamchasing]

Hey Javipa appreciate the how to find motivated seller list

[Randoskie]

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

[Gold River]

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

[Redstar1324]

Screw California. Let them secede.

President Schwarzenegger or whoever their governor is.

[Randoskie]

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.

[Redstar1324]

What size postcards do you mail out?

I'm going to do 6" x 9".

[Randoskie]

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.

[Redstar1324]

Awesome

[javipa]

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.   

[javipa]

[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.

[Randoskie]

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.