Infowell: im a realtor, but i'd like to invest...how I do so safely?

General Real Estate Investing
21

Infowell,

Since you are looking to challange me at least I should know who I am challanging. Looking at your profile it really says nothing.

So to start with your real name, license numbers for your brokers and appraisal license, the name of your real estate company, address, web site, etc. will do for a start. After I have this information the games can really begin.

Then as to not disrupt the serious posters needing help or giving information, we can take it to private messages. Any more derogetory comments would only be deleted by one of the Moderators.

Anyone can reamain anonymous hiding behind a “nic”.

John $Cash$ Locke

22

“So to start with your real name, license numbers for your brokers and appraisal license, the name of your real estate company, address, web site, etc. will do for a start. After I have this information the games can really begin.”

Mr. Locke-

I’ve given that information gladly on a number of occasions. I’ve little doubt someone will be happy to provide you with the answers to your questions.

I’m not hiding & have no need to. You’ve chosen to engage me on a number of occasions (despite your busy schedule in 50 states & abroad)…I’m hardly the challenger here.

It appears that rationale debate is not your forte. I’d caution you about uping the ante here John…it would seem you’ve much more $Cash$ to lose than I do–should you create a situation in which we both need lawyers to straighten out who really pays the Agents Commission.

I should think you’ve much more constructive ways to spend your time.

Au Revoir!

-Infowell

23

Hey,
Personally speaking, I’m disappointed in the both of you. You both have valuable information to give, from two different perspectives, which broaden the knowledge of the rest of us. This debate is of no value except to preen the feathers (or ruffle them) of you two roosters. It is discouraging to me. You older and wiser (?) ones need to be leaders and examples. My two cents and, no, I don’t want to debate or engage in a dual.
Peace (please),
Richard

24

It’s giving me an “ice cream” headache…

Keith

25

Hey,
As in “I scream”?
Peace,
Richard

26

Richard,

Glad to meet you.

Once a year I get involved in a “Flaming Thread” over who pays the commission the seller or the buyer, just so happens Infowell was the lucky one.

So, I was done when I said take it to the Private Messages and I only do it once a year so I am done with it, as I know the buyer pays the commission.

John $Cash$ Locke

27

Geesch. . .

Kenny says, in your case neither the buyer nor seller pays the commission !! Kenny ain’t ain’t buying ! THERE !!

. . . . now where’s that remote . . . .

28

“…as I know the buyer pays the commission.”

Seller pays commission, and everyone who’s bought a home, and read the HUD-1 understands this.

Under your fuzzy logic ; buyer pays for everything (seller pays nothing) because, “without a buyer there’d be no deal”:

Buyer pays for Excise Tax…even though HUD-1 indicates the seller pays Excise

Buyer pays for free & clear title (+ tax)…even though HUD-1 indicates the seller pays for title

Buyer pays for full escrow fees (+ tax)…even though HUD-1 indicates seller pays half the escrow fees

Buyer pays for FHA & VA fees…even though HUD-1 indicates the seller pays these fees

Buyer pays for currier fees…even though HUD-1 indicates the seller pays those fees

Buyer pays for recording fees…even though HUD-1 indicates the seller pays recording fees

Buyer pays for their own closing costs despite the fact the P&S may indicate the seller’s willing to pay some closing costs

Buyer pays the sellers property taxes (if owed) despite they’re prorated in the HUD-1 to the seller

Buyer pays off the sellers existing loans

I mean…you can’t just pluck commission fees from the sellers side of the HUD-1 & announce the buyer really pays these fees because, “without a buyer there’d be no sale.”

No…we have to follow that fuzzy logic throughout the HUD-1

-Infowell

29

Infowell,

      would you agree that Buyer would get a better deal on a house if there was no Realtor involved?

                                   Robb
30

Hey,
Being a religious sort of guy I used to believe that only spiritual beings were eternal. I was wrong. This argument will never die!
Peace,
Richard

31

Now that was good!!! GREAT POINT RICHARD I AM GOING TO TRY AND DROP IT!!!

But that was Funny!!!LMAO

32

Yeah, that too…actually, more like an “I’m gonna scream headache”!

Keith

33

Let me see if I can get this straight.

Seller calls realtor to list their property and realtor tells seller that they will list the property in the MLS along with thousands of other properties. Realtor is hoping that another realtor will sell the property so that they can split the commission and work for half pay.

MLS system as quoted by Inman News a leading source for broker and agents. Examples of what is happening.

Future of MLS on shaky ground
By Jessica SweseyInman News
Friday, July 29, 2005

SAN FRANCISCO – The structure of the Multiple Listing Service is in need of major repair, according to many concerned industry participants.

“… the current MLS structure is not working and the industry needs to work on a solution before it crumbles.”

– Andy Woolley,
Director of MLS Services eNeighborhoods

…“It’s a living hell!"

–Ed Krafchow,
President
Prudential California Realty

Broker finds buyer for property, which is sold for $100K.

At the closing buyer brings $100K to the closing table and out of this $100K of the buyers…

(-) $6K to seller so the seller can pay the real estate brokers commission.

(+) $6K that seller gives to broker to pay the commission as he is obligated to.

Brokers and agents involved probably have enough left over to make their car payments for the month.

The same deal done the Subject To creative investing way.

Investor checks the MLS expired listings and direct mails to the hundreds of folks whose houses did not sell. (Please do not let the MLS system crumble.)

Seller calls investor and explains they need help. The investor meets with seller and offers solution where it is a win/win for everyone.

Investor gives seller U-Haul money so they can go on with their life and takes the responsibility of the payments on the property being made on time.

Investor offers credit challenged buyers or new to the area buyers owner financing. Investor tells buyer if they make the payments on time it will help re-establish their credit and lenders look at how the mortgage payments are being made, so that in two years when the buyer is required to re-finance there is a very high probability they will be able to. Investor puts buyer with mortgage broker to work with them from the start to re establish credit.

Breakdown On $100K deal.

Seller owes $90K on property so sold with realtor they would in all likelihood have to come out of their pocket to sell their own house.

(-) $500 dollars U-Haul money to seller more than they would have received from a conventional sale.

(+) $6K down investor receives from new buyer.

(+) $200 per month passive income by raising existing interest rate on loan by 2 points.

(+) $10K appreciation built into price which is paid in two years when buyer refinances.

Approximate Gross Profit on deal $30,300.00

I believe I will just continue doing deals my way and just purchase the car.

John $Cash$ Locke

34

I’ve just got to smile & shake my head…

I guess my example was too difficult to address…(Under “Fuzzy Logic”…Seller pays nothing)…so ignore the example & move onto attacking the MLS System (which works just fine by the way–the reason everybody wants access to it).

Debating you is kinda like chasing a greased pig. After awhile…you realize the pig likes it!

“…would you agree that Buyer would get a better deal on a house if there was no Realtor involved?”

Actually…no.

I can’t tell you how many times I’ve seen do-it-yourselfers shoot themselves in the foot. I’ve seen people loose 10’s of thousands many times. Moroever, P&S Agreements are becoming so detailed–the average homebuyer would be well advised to hire the services of an expert. This is a VERY litigious business & THINKING one knows more than the experts could land you in some serious trouble.

“I’m gonna scream headache”!

Yeah…I’ve got one myself. Just look @ all the time I spent here debating, and I haven’t even attempted to tackle the Holland Tulip Bulb Bubble during the 17th Century…much less Expired Listings!

-Infowell

35

Hey,
Gee, maybe a stake in the heart?
Peace,
Richard

36

Mike,

Well you were just about right on target in a little pool put together by some Realtor friends and Pro Investors that I know.

Some of the pools were.

  1. When will he stop defending his position and use attack tactics.

  2. When will he start name calling, because he becomes frustrated.

  3. One of my favorites, when will he threaten with attorneys, by the way I won this one.

  4. When will he accuse me of attacking the MLS system when his people did the job for me.

  5. Plus a few others.

Just like a fiddle your were played and still haven’t figured out what is going on. Or as one Guru called how I post “I find your dry sense of humor and sardonic delivery quite impressive. Poster, he was being sarcastic to make a point. Well-done.”

My advice defend your position with out threats, it tells me you are not good at handling a situation other than the norm with your clients. Loosen up, your responses are a typical of realtor brain washing get creative in your thinking an you will find your business will improve.

No hard feelings I would like to think you were a good opponent, but in reality you weren’t, so go back to posting with the advice you have been taught, you do bring a benefit to the posters who are asking about conventional investing.

John $Cash$ Locke

37

[b]“…would you agree that Buyer would get a better deal on a house if there was no Realtor involved?”

Actually…no.

I can’t tell you how many times I’ve seen do-it-yourselfers shoot themselves in the foot. I’ve seen people loose 10’s of thousands many times. Moroever, P&S Agreements are becoming so detailed–the average homebuyer would be well advised to hire the services of an expert. This is a VERY litigious business & THINKING one knows more than the experts could land you in some serious trouble.[/b]

Let’s break this down for Fun!!!

right when you said “I’ve seen do-it-yourselfers shoot themselves in the foot. I’ve seen people loose 10’s of thousands many times.” Right there that tells me that somone got a great deal on the property in turn this also says that they saved money by not having a realtor involved!!

Also when you said!!“Moroever, P&S Agreements are becoming so detailed–the average homebuyer would be well advised to hire the services of an expert. This is a VERY litigious business & THINKING one knows more than the experts could land you in some serious trouble?”

Finally something good came out of this whole debate ALWAYS SEEK ADVICE OF AN EXPERT ALWAYS!! There are attorneys that will review these type’s of contracts for as low as $100-200 bucks! so there for there were no realtor fees saving me the BUYER 6%!

38

“Well you were just about right on target in a little pool put together by some Realtor friends and Pro Investors that I know.”

That kinda ironic…we’ve got something similar going on in the office here. And frankly…I don’t know any Realtors who’d agree with anything you’ve said in this thread…in fact you’re becoming quite controversial among real estate agents;

You’ve abandoned the debate. This makes three times you’ve ignored my example of all the other items on the HUD-1 that the Seller pays. In your defense the logic is impossible to address. I believe you understand full well the Seller pays the Agents commission.

You’ve moved from the commissions debate to personal threats, caustic remarks…even attacking the MLS System itself (which has nothing to do with whether Buyer’s or Seller’s pay Agents commissions).

This would appear to be how you choose to debate; you seem to feel the way to make your yourself look good is to make others look bad. The following link supports this premise (no…it didn’t write it).

http://www.onlyreviews.com/johncashlocke.html

“John Cash Locke has often criticized other investment gurus claiming every other week somebody has discovered a “new and better way” to buy houses.”

Even with the Editorial keyboard you’re having difficulty maintaining a rationale, and civil debate.

-Infowell

39

Mike,

Nice link to a site that the person who owns it writes his own review and knocks all course writers to sell his own product.

Why didn’t you post this link to a real site for reviews of course writers you must have found it when you did a search.

http://realestatecoursereviews.com/review/index2.php?item_id=20

You have referred to me as a pig, use the name Johnny Cash and I have lost it. You live in a 1,684 sq ft house. I would think for a big time realtor and appraiser you can do better than that, then again I can see why. You should have left that link alone you posted as you did it figuring it meant something, because I can start posting purchase price, address, mortgage holder, market value, clients, etc., so either stop where you are or figure what happens from there. Or what they call turn about is fair play.

If I deleted the caustic remarks, name calling, unable to defend your position, your posts would only have a few words in them. What is I am becoming controversial among real estate agents suppose to mean, do you folks sit around your office and think of things to say in your posts, because by your attitude you certainly aren’t out selling houses.

I don’t have to make you look bad you have accomplished this all by yourself. I said take it to the private messages, last time I will say this or you will find out what the editorial keyboard is all about. That’s another thing that really gets to you, I noticed that when you decided the Moderators were out to get you in part of a post you made, I deleted that part and you did the old who me routine.

John $Cash$ Locke