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Learning and Burning

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Learning and Burning last won the day on March 18

Learning and Burning had the most liked content!

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About Learning and Burning

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  1. Hello everybody, I want to give a shout out to Michael and this site. I have been learning and burning full time since 2014 and have never looked back. This forums wisdom, creativity and nonstop encouragement is priceless. I would encourage anyone who is looking for great feedback and answers to real estate investing with little or no money to get to reading here. I have come a long way since getting involved here with a J.O.B, living paycheck to paycheck and a dream for a real estate career. Its been a whole lot of work, determination and learning. I am still learning and burning which is the part i like most. I think i read it here before, we are in the marketing business not real estate business. And with that i say get houses get paid. Thank you again Naked forum.
  2. Hi Guys. I got another Pure Option that buyer wants to put my assignment fee through escrow. This one is in California and escrow is saying they can not pay anyone out of escrow that is not the owner on record or a licensed realtor.... What is the protocall for a pure option when i find a buyer? I am guessing it is the Assignment agreement where i am assigning my interest to the buyer for 5k and he also gets my Pure option agreement i have with the seller? So i get something in writing? I have nothing in writing so no one is obligated? Good Grief...... Scenario. Pure option for $32,500 Sold for $37,500 Seller is aware of my $5 000 fee has no problem. he opened escrow with a sale price of $32,500 and says he doesnt want to deal with the 5 k that between me and the buyer. Which it is but buyer wants to put the 5 k in escrow as well. So wtflip? Learning and burning.....
  3. I have t/b that wants to pay 6 months in advance.
  4. Ok guys heres a first again for me. Have this slo and buyer wants to pay 6 months ahead. To the tune of $9,000 minus the $6700 to the seller of course i get the difference. So now do i pay seller the 6 months up front? Do i pay monthly as agreed? If and what is best for handeling money allocated for such? Learning and burning...
  5. Update on this one. I got the owner to split Aprils rents with me so the hit was minimal. (Still hurt) I did get the house leased before May was due. Wondering if you have done this before? Its a 6 month lease that takes the pressure off for a bit, but still marketing for a buyer on this one. Also, a question is if the seller only wants what is owed on the property. And i have a 36 month lease option what would i put in the purchase price when option execised? Lerning and burning still........
  6. Man still working this one like KRAZY. Worked all the interest in the last three months and again no real issue other then small lot/to close to town. Nothing on price. So i am on it still. Had a couple showings and a no show this week already. Now per my agreement i am abligated to pay one months rent and 30 day written notice to give the house back line 21 Lease w/option to purchase agreement. Certainly NOT what i want to do, but what can i do beyond giving it away? Seller is cool and understanding but i have to reconstruct this one or take my hit.... ????? Learning Bburning and stressing
  7. My thoughts are to sell some and sandwich some. I am doing my due diligence on these as individuals so package deal could be considered. And maybe just individual offers. A discount would be part of the proposal for a take all scenario. He is motivated and for all due purposes is asking me to propose a take all deal. In my head the perfect scenario would be to control all the properties and sell or lease out asap. The houses and dulexes are all occupied so that would come into play also. Vacant lots could be marketed so to create the cash he wants. ?????? not needs. So say theres 6 properties at rmv of 500k with my proposal id look to discount that and get control of the properties. That market is a hot one for sales at the moment. This is all my beginners outlook on multiple properties scenario.... Is it even a deal? Any and all suggestions are as always taken to heart.... Learning and Burning
  8. Hello again, I have a seller who is motivated and come to find out is married to a good friend of mine. So he is motivated to do business with me. Scenario here is he has multiple property's. Sfh, duplex, lake front property and vacant lots. My goal is to work a deal for all the properties as he is unloading all. There is no financing on any of the property he owns all free and clear. He is wanting $100k for a possible owner carry and is hesitant to deal with a realtor. So all things point to a good sign that we can do business. Qeuestion, is this possible to do multiple properties? If so what would you suggest so i can be schooled on such a scenario? I am not sure where i would start and needing advise so i can lock something up. Learning and burning.....
  9. I do feel good on so many levels about this one. #1 I stayed with it to the end learned so much. #2 It was out of state and still made it happen. #3 Got my daughter to help me which got us closer seeing were 1000 mile apart. Big Big for me. And so sharing with her the fruit.... #4 I added to my tool belt for more ways to get deals done... Yes rinse and repeat is where i am now. Got to say yahoo and thanks for being there for me like big brothers you all are... Next one coming soon ......
  10. OHHH yeah..... This one is done, Got my assignment check today from escrow. Although a few gray hairs later i can now enjoy the adult beverage for this one... I want to thank all of you for walking me through this one. Was my first Pure Option and now excited to have it closed out. Want to give a huge shout out to the naked investor himself and all that share their knowledge and experiences on here. Would not be where i am in my real estate career/ dream without all of you. I am now hunting down the next deal hoping to be fully naked doing this some day ... Till then just naked from the feet down and working it...... Appreciate all that has come from all of you and this site.. Learning and burning...
  11. There has been no haggle on the price. The monthly seems the issue. Scenario is this house has central air and heat but on solar. So payments include the power bill. So for reality its a no brainer. NO power bill with ac in the desert imagine that. Feedback is yard to small. to close to town. To colse to neighbors. So again not the price. I am now working on 5 k and take over payments of $1200 power bill included.. Getting more bites but still no fish... Grrrrr.
  12. I am confused because its not a commission that we deal with correct? The terms were put together with buyer and seller and no attorney involved. This commission on demand is what escrow is saying is needed. Thats where im even more connfused cause why are they telling me how my pay is cut? Also, this is in Oregon. This commission on demand this does this mean im getting a commission? How else would escrow be able to have me accounted for? Staying on these guys cause this was to close on the 21st and now pushed out to the 30th per escrow. Saying the county has been the hold up.. Not liking the hold on my monies.....Ppushing and shoving to get this one in the completed file... Grrrrrrr...
  13. That is what i feel i was aking her. That i was in the clear with this going through per my Pure option agreement. Not really sure what to take of her answer. I can call her back and discuss in more detail if i want to for future reference so to be Clear that my ten dollars is sufficient to make my deal? Now on this one escrow says i need a Commission on demand form for them so to allocate my monies. Is this how this works? is it a commission i am talking? Or ? Will follow up with them on Monday... Grrrrr But first want your input on this part.
  14. I have a lease option that iv had now for almost 60 days that first payment is due on 4/1/16. Iv gotten lots of attention but still no real takers, I m stressing now with the payment due and not sure how to play this one out. Talked to seller today who is out of state and hes stating he can not extend me another month to get it filled and is expecting payment. I am looking for suggestions to keep this one going amd work for everyone? Learning, Burning and stressing this one....
  15. Yeah, she said there is no lawful amount that is required. She said we im guessing the lawyers want to see more option money posted. Why exactly im not sure she really knew. I had bad reception when we talked and so communication was limited. I was glad to hear that all was good with the way this one was done. I have actually talked with this lawyer on a few subjects as she is a real estate lawyer in Oregon. Looking to close escrow now on Wed. Come on payday daddy needs a new pair of shoes...
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