Former Dot.Comers flock to REAL ESTATE... - Posted by David Krulac

Posted by Hank on October 27, 2002 at 18:39:20:

On the other side of that new investors flooding the market coin, you have a whole group of people that have lower… mmmm…shall I say different standards to flip deals to.

"OK Mr Jones, your paying me 3k, making up 7k in back payments and legal fees, another 3.5k in paint & carpet plus 1.5k in holding costs. Total of 15k out of pocket.

Now you should get 7k down in non-refundable option consideration, 3k in tax benefits, $175.00 bucks in monthly cash flow and at least 15k when the guy exercises his option.

Then you could work out the % gains for him or just say something like - Sure beats the heck out of the stock market, right?

Oh you want hold this for your retirement? Well you could do a refinance since you allready own the place - I mean, you will when you pay me - and they’ll give you 80% of the value of the place. That’ll put most of the money you put out back in your pocket and the rest will be gravy in the coming years. Not bad".

A “Legrand guy” would never guarantee a note or put that much out of pocket. That deal wouldn’t be sexy enough unless it was in a really hot area.

I’m not sure if I articulated my ideas right but I think it comes across.

Just work out the cash on cash for them and even a marginal deal to a seminar grad looks like gold to a guy thats been getting a big nothing in other investments.

Former Dot.Comers flock to REAL ESTATE… - Posted by David Krulac

Posted by David Krulac on October 26, 2002 at 21:47:31:

read the article:

Re: Former Dot.Comers flock to REAL ESTATE… - Posted by Kristine-CA

Posted by Kristine-CA on October 27, 2002 at 11:30:04:

David: frankly, I think this is good news. The more people that attempt real estate careers with the incentive being sales commissions, the more less mainstream deals for the rest of us.

I do think that becoming an agent must be a fantastic way to get to know your market. And you would definitely get to know the paperwork. But I am still amazed at the number of agents I know that wouldn’t put themselves into a deal or even recognize one. Even when it’s staring them in the face and screaming “take me.”

No fears here. I’m more worried about those newbie investors who are running from the stock market, buying anything that looks like a deal for rental property. Where I am, they are the competition.

Thanks for sharing the story link. Sincerely, Kristine

Re: Former Dot.Comers flock to REAL ESTATE… - Posted by Redline

Posted by Redline on October 26, 2002 at 23:21:51:

Just what the world needs … a few thousand more Realtors! :wink: