A Realtor Shot Me Down Bang!! Bang!!!

[Jrj2820 0]

Hi I am in Boston and just came from a real estate class, it seems to me that my class instructor has no idea how lease to purchase works or he just didn't want any of his students loooking at other ways of getting into the realestate market

(I mean if everyone in the class goes for the L/O he then has no class and makes no money)

I asked him if a seller singed over the rights/control of the property to me then I sell it and made a profit would it be legall. He had fun and jokes about it saying well I guess i have to make a cell outside this test center for you before we leave here LOL,

"yeah what ever buddy"

 

Please I would like to know how to ask a license agent of over 20yrs about L/P and its legallity

remember he is an intructor

[Doug Pretorius (ON) 9]

Why are you asking him? Agents aren't qualified to answer anything about what is or is not "legal", they aren't lawyers.

 

Besides, why are you asking if lease options are "legal"? Of course they are. Do you know people who are buying houses in Boston? Yes. Do you know people who are renting houses in Boston? Yes. Are they doing so illegally? No.

 

There's your answer.

[Jrj2820 0]

I was not asking if it is legal or not I know it is but I was curious as to how he answered the question thats all and wanted to share it with individuals on the board.

this is another responsen I got

 

Re: legal issues

Posted by: dk (IP Logged)

Date: March 8, 2005 09:52AM

 

 

Why do you want to ask them and why do you care what they think? The fact of the matter is that there are a ton of us out there doing it and making money at it. When was the last time you heard anyone going to jail for it? If it's illegal why hasn't the government thrown Carleton Sheets in jail for selling information on something thats illegal. He's been on my TV for twenty years. People lease and sub lease all the time. In Donald Trumps latest book he talks about buying an Option for a building he wanted to lease. The owner wouldn't lease to him so he bought an option to buy the building. The owner sold the option so buy to Tiffanys a few years prior. Trump just bought the option from Tiffany's, then he played hard ball with the owner and said lease to me or sell to me, your choice. This stuff goes on in small towns with little investors and big cities with big name investors. Skroo the realtor. Get to work of keep dreaming.

[Jason (AL) 1]

He's probably a half-ass agent, looking to supplement his paltry income teaching a class on how to become what he wishes to be.

 

How many creative deals has he done that makes him such the expert on what's what concerning real estate investing?

 

I'm sure anyone who has just put down just about any real estate investing book or course would know more than this fella.

IF he has done any creative deals or even knows anything about them, then he would not have told you this.

Either way, he's opened his mouth about something he knows nothing about.

 

If he gives you anymore crap about anything, just quote my first paragraph to him. That'll shut him up fo' sho'.

I really can't stand these type of people. (Can't you tell?)

 

 

Oh yeah. Almost forgot your last question.

 

The reason he is an agent is because he is selling houses he does NOT own.

This is the reason for a license.

You need no license when you:

1.)own the house you're selling or

2.) you're a principle in a deal. i.e. you have an option or control via a contract to buy and/or sell a house.

 

Tell him to go ahead and use his license to purchase 1500 acres of land to make way for all those other cells he needs to build for the countless other homeowners and investors that have bought and sold houses without being an agent.

 

When's visiting?

[Cliff 0]

I had to read this post several times....RS Agents are back in the dark ages. Look how long it took Banks to go with ATM's and Internet Banking .. RS Agents will wake up some day.. Check out Lease Purchasing facts about Feddie Mac -

 

Guess they (Feddie Mac )see the advantages

 

http://www.freddiemac.com/sell/expmkts/lease.html

[JCannon 0]

RS Agents will wake up some day..

Hopefully later than sooner

[-Tony- 0]

Okay I think I can sum up what Jason was saying;

 

Those who can do, those that can't teach.........ahhh........MC is the exception...ahhh....he's a mentor not a teacher....yeah thats it. And his motto is do as I say cause this is what I do.......

[MichaelC 160]

Thanks, Tony....I think....