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vballdarin

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Everything posted by vballdarin

  1. Is this the time to pull out the National Association of Realtor's "Rose Colored" 8-ball that says home prices should start climbing by the 4th quarter of 2009?
  2. Thanks guys. I guess the law of averages applies. More emails sent out = more possibilities of a quality response. MC....I hear ya about ads of unknowingly listed houses. If the homeowner replies and says it's listed, i've simply been telling them, "At this time, we are interested in dealing directly with the homeowner of unlisted properties. If, in the future...etc, etc..."
  3. Generally speaking, I was wondering if, since tenant/buyers are having a harder time getting traditional financing, you've started giving them a longer lease period when doing a CA? It would seem that when signing up a seller on a CA, 24 months would/should offer more ability for the tenant/buyers to secure financing in these market conditions? And 2... I'm working on finding motivated sellers for CA's by sending out emails from the "For Rent" category of Craigslist. Since I'm sending out emails to areas i'm not too familiar with......Are there any ads that you generally steer away from (other than prop mgmt companies/brokers)? (ie....ones with uploaded pics versus no pics, or more detailed info on the house versus vague ads) Thanks in advance.
  4. Yep...I'm STILL in the same boat! There are 1250 licensed agents in my county, numerous rental/property mgmt companies (because it's a resort area), and most of the area contains houses built since 2003 (People owe more than the house is worth). I've grown weary of answering the same phone calls or emails with not even a sniff of a deal where the numbers work. I have to admit that I got burnt out after trying sooo hard to get a deal and holding down 2 other part time jobs. I'm gonna keep my nose to the grindstone. This is a great forum for ideas (new and old) and everyone is very helpful in sharing those ideas. Somebody's bound to email me by accident with a decent house to offer as a CA. Either that or i'm relocating so that i'm in MC's or BEV's area.
  5. Hey yall'......... This is a little off the beaten track..... Wasn't sure if anyone could help me but I figure I'd give it a shot. Does anyone on the forum use or is familiar with DreamWeaver Spry when putting together websites? My sister is having some trouble putting together her Menu Bar for a website she is building and the clock is ticking on her deadline to finish the website. If there is anyone out there who is familiar with, or could point me in a direction to find information/ assistance for my sister, it would be greatly appreciated. Thanks in advance, Darin
  6. To MC and all those who have assisted me on my real estate/investing journey in 2008....I say thank you, hope you all have a Merry Christmas and a joyful New Year. Here's to an even better 2009....
  7. Hey there ya'll.... Just wondering if I could soliciate some ideas from the forum. It's getting fairly obvious that the area that i'm living in is not very conducive to working LO's or CA's or Wholesaling. I'm going to start looking in different areas to work. And therein lies my question. What is the most effective way to pick an area other than the county/area you live and REALLY learn that market so that I can start investing (besides physically relocating)? Obviously you would try to find areas where there are substainable drivers, ie...job growth, etc but how do you really do some research to find these areas. Everyone says to start in the area you know best (ie...where you live) but that ain't cuttin it. Maybe this is too vague of a question but i'm to the point where i'm grasping at any new ideas. Suggestions, ideas, wonderments.................? Thanks in advance. Darin
  8. Just a question for ya'll.... When a tenant/buyer calls you and doesn't want any houses that you currently have available but mentions that they found 5-6 houses in another area that meet their criteria....how do you go about getting them those houses/contacting the homeowners? Any specific things I should say to the homeowner so that I could set up a CA or should i just go about it the same way I would when searching for normal CA homeowner leads? I'm thinking that I could dangle the tenant/buyer/carrot in front of them even more as an enticement. Thanks, Darin
  9. JR.... Yep.... Here in South Carolina, I'm a SCLREA. Sounds kinda like a medical term.
  10. Hey there Diver.... I was in the same boat as you a few months ago before Craigslist divided the category into "owner" and "broker". I was trying to find owners and at least twice per week came across ninja Realtor ads. I usually just sent an email to the offender with a "copy and paste" from the National Association of Realtors website: ------------------------------------------------------------------ Mr or Ms So-in-so, I'm sure it was just an oversight that you did not disclose the name of your Brokerage in your ad. Being that you advertise on Craigslist frequently, we're sure that you will make the appropriate change and it will not happen again. I'm sure a violation of the Code of Ethics is not in the best interest of your Brokerage. Code of Ethics and Standards of Practice, National Association of REALTORS® Article 12 REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional. (Amended 1/08) Standard of Practice 12-5 REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property in any medium (e.g., electronically, print, radio, television, etc.) without disclosing the name of that REALTOR®'s firm in a reasonable and readily apparent manner. (Adopted 11/86, Amended 1/07) Standard of Practice 12-6 REALTORS®, when advertising unlisted real property for sale/lease in which they have an ownership interest, shall disclose their status as both owners/landlords and as REALTORS® or real estate licensees. (Amended 1/93) Sincerely, Darin "aka.....Realtor Bounty Hunter" Ray ----------------------------------------------------------------------------- All but one of the "offenders" either appoligized or immediately changed their ad. The only one that still hasn't changed their advertising is guess who...............MY FORMER BROKER! So.... I went into see my new Broker and asked him about the process of filing a complaint. After a 47 hour explaination of the process, I decided that it wasn't worth my time to go through all the hoops to have him get a slap on the wrist. All I do now is shoot off the above "form email" in hopes they change their ad. I have better things to do with my time than play Good Realtor Cop/Bad Realtor Cop no matter how much enjoyment I would get out of it.
  11. I THINK I'VE FINALLY GOT IT!!!! I'm going to go to Glamour Shots and get some pics done. I'm sure this will increase the effectiveness of my ads on Craigslist & Postlets! It's time to get the word out on THIS stud! You guys/gals are awesome mentors!
  12. MC..... Many thanks and Happy Birthday! I couldn't have a better Mentor!
  13. Did you see the Zillow report on CNBC that between 35%-56% of people across the country actually think their house value was flat or increased over the last year?!?!? ~That would definately be one. ~The fact that investors have to overcome the sterotype that we are scam artists trying to take homes from people. ~Trying to stay the course and not a following-the-herd mentality or being a leming. ~When doing your marketing....Knowing how effective each method is with the results and when to switch gears and try something else.
  14. I'm FINALLY getting some people calling me for CA's and L/O's. However they, like many of the stories already told on the forum, are out of touch with reality thanks in part to my fellow brotheren Realtors. How do ya'll give them (the sellers) a dose of reality while not speaking like you're drawing and quartering them (having them never calling you again)? (ie...having a hard time finding a happy medium between being a hard-a$$/cold pitcher of water and giving them the warm-and-fuzzies) I know that when you put the numbers together, they will either work...or they don't work, but, maybe i'm building TOO MUCH repore with them (unmotivated sellers). Thanks
  15. Maybe I'm still just a noobie looking through fog-tinted, reality-obsecured glasses but.....get this! My parents wanted to put an offer in on a Bank-owned townhome here in Hilton Head, SC. (Thankfully I'm their agent ) Upon getting their pre-approval from a Suntrust Mortgage Broker (who happens to be a great & very valuable member of my investing team), we were ready to put in our offer. Already knowing that REO's don't usually provide property disclosure statements, we knew that the property was going to be sold as-is. I decided just to check with the listing agent to see who's name I should put as the "seller". He said that "owner of record" would suffice. Now, here's where it gets interesting. He also said that ALL offers have to include a pre-approval letter from Countrywide whether we use them or not. All offers not including this would either turned away or "looked at a little slower". The agent gave me the name of a person at Contrywide who is handling this property and he said they would be happy to assist us. I then called my parents and explained to them that they now needed to call over the phone to get another pre-approval letter.(My dad is old-skool and always wants to sit down, face-to-face, one-on-one with people when doing business) Long story short....they were asked by this certain individual at Countrywide if they were truly going to use Contrywide for their loan? When they said no, the individual said that since he works on a 100% commission that it's a waste of his time to do the approval for them if they are not going to use it. He then told them to call some other person in Texas. After speaking to the Texas Contrywide person, my parents were again told that all offers/buyers that are not using Contrywide for their financing would NOT be looked at very quickly in comparison to those who DO use Contrywide, even if they came in with an all-cash offer. Is this what normally happens? And is it legal for Contrywide to say/do things like this (ie...steering)? Needless to say that I'M CALLING MR. COUNTRYWIDE PERSON MYSELF tomorrow and asking to speak to his direct supervisor as well as MR. LISTING AGENT and......(in the immortal words of Ricky Ricardo.......) Dey got sum xplainen' to do.............
  16. Bev...... There is nothing more important than the well-being of friends, family, and self. I'm sure I can speak for a lot of those on the forum that if you need ANYTHING, we're here for ya.
  17. I had originally taked to a motivated seller back in May and tried to do a SLO on her house. The numbers weren't really great and she had a bridge loan which was coming due in April 2009 but she said she's been current with her payments. She had spoken to her lender and the lender said that they will work with her on it too. I decided it was a little too involved for me at the time. She has contacted me again through my advertising (she didn't realize that i'm the same guy she talked to months ago) and i'm wondering if I can do a CA with her instead. I'm confident I can get her from her $244,900 asking to the true value of $225,000(net). My only concern is that if I get it under contract with her and offer it to a tenant/buyer....am I setting that tenant/buyer up for a sticky situation? Of course i'll disclose everything i need to but I'm wondering how to go about this? Anyone have any ideas? Thanks. The other "motivated" seller i thought i had said that he would call me back to "maybe" go out and sign the papers. Result = no call. I'm moving on. Darin
  18. Come on MC ....Spread the love! Some of us ARE still waiting for that certain someone as well as our first deals. We have to keep the faith that someday they'll both mistakenly stumble upon us. Sincerely, Darin=Eternal "glass half-full" optimist
  19. This is how we Realtors do it on Hilton Head Island. No expense is too great for my clients!
  20. Well...I've finished putting together a website to use in conjunction with me calling & emailing FRBO's. Any suggestions on changes/additions/subtractions or just general remarks would be very helpful. www.hhiinvesting.com Eventually i'll get around to putting a video/blog/audio(JR...yours in really good) on it as well but I wanted to have something credible to assist people when they seemed skeptical about me & my company. Thanks,
  21. You have to look at the source of the contracts. If the contracts were written buy the Board of Realtors attorneys...you better believe that they are written in the best interest of the Realtors/RE Agents. Some Lease agreements used by our State of SC Realtors specifically state that it's not intended for use when there is an option. You can't go wrong with MC's contracts and agreements. (Especially for CoopAssign's) But you may want to run whatever you use past an attorney so that they protect YOUR best interests and they are state specific.
  22. Dear Diary... I finally sat down, put on my seatbelt, circled all the FRBO's in two local papers and started making calls for CA's. 16 calls in all. And guess what? I'm still alive!!! I guess the leftover feelings of rejection received during high school prom have no consequence when making calls to FRBO's. Here are the totals: Yes we would consider a Rent to Own - 8 No we are strictly looking to rent - 4 Left Message - 4 ***Called 1 FSBO-ShortSale and eventually mentioned that i'm licensed. He immediately said, "So your just basically looking to get a listing huh?" I replied, "NO,NO,NO,NO....i'm not interested in listing ANY properties. I'll let the other 1300 local Realtors battle it out. I'm looking to actually help sellers by BUYING their house." We had a good laugh about that one. Bev, Steve, Adam, MC and everyone else are completely right. The more I made it a "get-to-know-you conversation" instead of quizzing them on numbers and if it "will fit into our rent-to-own program"..... the more confortable the seller and I both felt. Make the first call, make the 2nd call, and keep the volleyball rolling till your finished! Next up....I'm going to run some comps on all the possible "yes's", give them a call back and make some short offers. And next Tuesday I'm attending my CPA's free seminar on Real Estate Investment Strategies where she is offering "strategies to establish sound financial decisions when considering real estate opportunities." **Alert**Alert** = networking opportunities! P.S. I hope you've all been watching the Men's&Women's Beach Volleyball Olympic coverage!
  23. I happen to feel that the degree of a person's intelligence is directly reflected by the number of conflicting attitudes she can bring to bear on the same topic. ~ Lisa Alther, Kinflicks, 1975 Mankind have a great aversion to intellectual labor; but even supposing knowledge to be easily attainable, more people would be content to be ignorant than would take even a little trouble to acquire it. ~ Samuel Johnson, quoted in Boswell's Life of Johnson (1709 - 1784) A certain amount of opposition is a great help to a man; it is what he wants and must have to be good for anything. Hardship and opposition are the native soil of manhood and self-reliance. ~ John Neal And my favorite................. Great spirits have always encountered violent opposition from mediocre minds. ~ Albert Einstein (1879 - 1955)
  24. Trust me....I WILL NEVER GIVE UP.(que up the Rocky Music) I will go play in traffic on Interstate95 or on a Los Angeles highway before I will quit. And I'm not going to be one of those naysayers who complain that "SLO's and Sub2's don't work in my area". They do but there may not be as many opportunities for them as there would be for CA's. happyardy......... And for being a Realtor doing CA's....My broker said that if I buy a property from anyone, I have to split the commission with them. Here is the key....(I'm) not buying anything! The LLC or RothIRA are the principles in the transactions, not me. I happen to work for the LLC. Hence...no commission will be payed to anyone. MC....... I'm officially going Naked. Your payment is on the way for your manual.
  25. I'm not as familar with working a deal as a CA. I've been studying SLO's and Sub2's and these are what I offer to the sellers. I do understand the basic principles of CA's but having my RE License creates other hoops I have to jump through to make sure I'm doing everything correctly. And I can't get an attorney who is worth 2cents to work with me.(another hurdle). I may have study up on CA's until I have it down cold and then tweak my schpeal when talking to sellers.
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