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Real Estate Investment Strategies

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Orange County real estate investor and Realtor Gabe Cole presents two separate investment strategies to grab hold of the opportunities in today’s real estate market. If you have any questions or want more information about investing and real estate, feel free to contact Gabe Cole at 949.395.4223 or visit his website at www.gabecolerealestate.com.

Remember that guy that posted the video of the house he rented to section 8 tenants that destroyed it? Well he's selling the house and I contacted the real estate agent...

Thu, 08 Aug 2013 10:26:48 -0700

Here's the original post. To summarize: man rents house under section 8, tenants destroy house, man is upset and is now apparently selling the house.

Well, someone on that post mentioned that they had found the house on a real estate site. I saw the house was listed for well below what I thought it would be (I live in California - maybe that's why) so I decided to contact the realtor about it to ask some questions (my wife and I have always wanted to do some real estate investing). Anyway, the email that I got back form them seemed very suspect and I thought it might be a scam of some sort. Here's the email exchange:

my inital email to them:

I am interested in 416 Griffin St NW, Atlanta, GA 30318. You can reach me at: *******

Their first response:

Dear Brian,

Thanks for contacting Atlanta Homes ODAT Realty.

Before we schedule an appointment to see property, may I ask you to answer these questions?

  1. Are you working with another real estate professional? Atlanta Real Estate ODAT loves new Clients. In addition, we follow the ethics policy for REALTORS(R) in Georgia which prohibits us from communicating with another agent's client.

We are grateful to be busy with Clients. Therefore, we must concentrate on folks who are part of the ODAT Realty Team. That means, as we devote our full attention to your needs, we request your commitment to ODAT Realty to form the best team for reaching your goals. You will choose who you think will be the best for your needs when you decide on an agent. There are many, many agent options in Atlanta - many wonderful folks to be sure! At ODAT Realty - we are about SERVICE. Our distinction is that we focus on YOUR needs.

WHY IS THIS IMPORTANT? We follow Georgia law which requires a written Agreement between Clients and Brokerages. Every Brokerage in Atlanta has access to the same properties via the professional Listing Services. Teamwork will make your search more productive and successful.

AFTER we meet for the first time to see property, we will ask you to join our team by signing the Buyer Agreement. That gives both of us a chance to see if we may work well together.

On the Exclusive Buyer Agreement, you will see that we request a $540. Research and Education Fee from each of our Clients to be paid as we continue after our first outing to see homes. ODAT Realty Services, Inc. functions as an accredited ACRE® Brokerage with a fee based system.

We are happy to discuss the details of the fees with you at any time.

  1. Are you planning to live in this purchase or to use it as an investment property? Some sales are restricted to OWNER-OCCUPANT only. Some places do not allow rentals. Some areas even limit what types of vehicles an Owner may park. Whichever is your goal, our research involves knowing the answer to that question. We don't want you to buy something without its being EXACTLY what you want for the long-run.

  2. What is your timetable? When do you want to be living in your new home?

  3. Do you have a home to sell before you buy? The answer is very important in terms of the purchase timetable.

  4. Are you planning to pay cash or to get a mortgage? Given the current economic climate, Sellers request your documentation before showing a home whether it is a Cash purchase or you will need a Mortgage.

The cash documentation may be a letter from your bank verifying your purchase capacity or another financial document showing liquid funds.

The mortgage documentation from your Lender lets Sellers know that your REALTOR(R) has pre-qualified or pre-approved you as a fully qualified potential Buyer BEFORE showing their properties. If you need a mortgage lender, we are happy to recommend Rick, Rodney and Julie.
Each offers online applications with no charges for the initial process.

  • Rick Darlington with Brand Mortgage

  • Rodney Mason with Prospect Mortgage

  • Julie Beaty with Fidelity Bank

Thanks again for contacting us at ODAT Realty Services, Inc. Have a happy day - Lynn

PS When we hear back from you with your answers, we have a gift for you - a personalized and ACCURATE search engine - updated every 30 minutes with the latest information for you. The search engine will be completely under your control for adjusting fields! L.

So I was pretty amazed that they wanted to charge me $540 to show me a house(s). Reminded me of an old craigslist scam for renting houses around here in Los Angeles.

Anyway, I replied with:

No thanks, not interested n a $540 scam. I'll just get a hold of the owners directly to see it.

To which they replied:

Hi - The scam is people such as yourself asking us to spend HOURS and HOURS working for free for them to pursue investments without respecting our time as professionals.

The scam is folks who know nothing about what they are doing trying to buy homes that are obviously not what they are represented to be. If it looks too good to be true, it probably is too good to be true. Have you ever heard that before?

Do you really think that home is a "bargain" at $25,000? Do you know where it is? Do you know what it would take to make it habitable? Do you know what steps would be necessary for the repairs made each day to be safe every night? There are a million more questions I could put to you but I am returning to our Partner Clients to spend time on them.

The key word here is respect. Everyone wins with our business plan. Our Clients are respectful folks who are very happy to form a team with us and be mutually successful. All our reviews point that out.

As you face the world expecting to be cheated, Brian, you probably will receive that result. We get what we look for in life.

Best of luck to you in your search. Have a happy day - Lynn

So did i overeact reddit? Is it normal to be charged money to look at houses that you might want to buy? I didn't do that when my wife and I purchased our home here in California.

TLDR; Conctacted real estate agent, they asked for $540 to show me houses, told them it sounded like a scam, they replied telling me that I am the scam.

submitted by briandilley to self
[link] [28 comments]

How to prepare the home that sells (hamptonroads)

When Lee Costic approached a real-estate agent about selling his parents' house in Virginia Beach's Thalia neighborhood last fall, he thought it'd take months to sell.

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hamptonroads - Jan 16, 2012 05:00

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Comments

MEYERAPPRAISAL says:

Excellent video!? Thanks for sharing!

keits96 says:

If it’s so good profit, why share? it? :D

dday1153 says:

Good? video.. Check out house-flipping*net

John Doe says:

Look I’m a successful real estate gaent, and here is one trick to the trade you have to also read plenty of books because your mind has to be built up and advance in order to be truly successful! Here is a great book that I always recommend to anyone that want to truly? become successful in anything because it eliminates all fears! Please read “How to overcome fear, and start living fearless” read it now from Amazon, you have to invest in yourself to be successful always remember this!

Anwar Barbouti says:

That tip? about 10 percent down is good, the average person might not realize that.

TheMotifES8 says:

As soon as I heard Real Estate Broker, I knew this wasn’t the real deal Invetments. I’ve run across several agent who think just because thery’re Licensed realtors, they know all there is to know about real estate investments. Truth is, they don’t. Theyre agents, not investors. If they where real estate investors, they wouldnt be agents because we all know investors? make far more money than agents do.

NOVALISTERRA2007 says:

but there is allways? the factor opportunity, which for Greece means crisis

tubaSHANK says:

Real Estate Agents make it appear like they work hard when you break down what they do it isn’t really much, don’t mind you Real Estate Agents selling buildings but you need to get out of representing land deals. Land Development should be left to the Land Owner and Land Developer you Real Estate Agents just get in their way and make the land deals twice as hard and costly on? both parties.

PlaceToLiveRentals says:

Most agents work super hard and don’t make all that much money..? its pretty competitive and definitely a customer service driven niche..

EpicRealEstateInvest says:

Fight on!?

tubaSHANK says:

Real Estate Agents make my skin crawl nothing more then worthless needless middlemen who whole focus is to get paid for doing? nothing.

thrive365 says:

Great Content. I? like the Tips..

PlaceToLiveRentals says:

Nice? video..

JustThinkProperty says:

Mate I need to head off to your part of town…? souds cheap for the return its not rocket science.. cheers and thanks for the tips.

JaxInvest says:

Great channel!? Just? wanted to drop in and say hi!

financevet says:

Very Informative video. I will say this though, I have found that creating the buyers and? getting them approved is the real way to success in this economy. The properties at discount is the easy part. When we jv with investors/rehabbers, and bring in the buyers that are ready to close, now that’s when it gets sweet!!! manwithwords@gmail.com

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