Real Estate Investing Deal Shop

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In 1960, Lucius Foster, Real Estate Broker noticed that he was getting into all aspects of Real Estate not just being a Broker. He examined his motivation and discovered that his real interest was in making money and not in serving in a Fiduciary Capacity to his Clients. This shocked him. After all he had been your typical follower what else is an ex military officer but a follower of leaders, some of which are very strange. I mean shiny helmets and six guns in todays wars? Come on. So he decided to change.



To accomplish this a series of meetings was arranged at the various watering places along Sunset Blvd.



Mortgage Brokers, Syndicators, RentalPeople

Property Mgrs. Developers,Builders, Bkrs of Commercial, Residential, Multiple whatevers, Assemblers, Hard Money Lenders, Forcl Specialists mostly in long black coats and funny hats. Trustees, Posters of Property, Court House Searchers, Mortg discount buyers, Paper Manipulators, Atty's specialize in Real Estate (always frisked at the door) An ex member of the Real Estate Commissioners Office. Ex Jesuit Priest he finaly found out about girls and quit, and a super strange defrocked missionary from Scientology. 2 PhD's and could not tie his own shoes but super smart he had had an Epithemy. . Etc. Etc.



After a few months it boiled down to five principals. Everybody would take turns being chairman. That did not go down well so they decided to stick Lucius Foster with the job, besides he was not paying attention at that instand, trying with no luck to date the waitress or her mother, ended up walking their dog. Anyway he would do all the dirty work and his office would be the place of business.



Lucius Foster and Assoc. would continue to be the Licensed Entity. REB Lic. 43498. He would also act as Trustee when required so full control could be maintained on all foreclosure sales. He would also furnish an Escrow Service and tie to at least two Title Companies and keep a captive Attorney in a cage for all out of state Foreclosures.



Each deal that came into the office would be the exclusive property of he who brought it in. Each Principal would participate as to his skill and knowledge. All charges and rewards would be negotiated on a deal to deal basis. From all profits 10% would be set aside for a standing fund which would be divided among the principals every six months. All profits would be divided up as per agreement made at presentation of the deal. Investors (hard Money) would make a return of 10% from date funds deposited to date of payoff.



The Deal Shop in the person of Lucius Foster would give a recourse on all funds invested in exchange for the 10% interest rate. The participation of inhouse lenders gave instant funding for bridge financing, funds for forcl. sales, buys of distressed properties where the equities were too large for total assumptions.



There would be no requirement to accept all deals, each deal or transaction would be examined by all five and those that wished to stand aside could so do.



Within six months transactions had been increased 200% and profits up too high to calculate.



In a short period of time the Deal Shop became known as the place to contact for anything Creative, Eclectic or downright strange. I typed up about five examples but from what I have seen at TCI it would merely be repeatable.



PRESENT TIME

I propose that we the hardy Contributors, Moderators, Owners, their Heirs, Devisees and Legatees, form such an organization which we designate a Deal Shop. All that wish to participate list their true names, working alias. E.Mail Address and Tele Numbers and a brief highly accurate blurb as to their talents, experiences and most important Quo Vadis, What and where do you wish to go?



This creates a loose Nation Wide Organization which can examine deals and act on them from the pool of talents, exposures and investment capitol.



Each person presenting a deal or transaction answers all questions, takes all pictures, runs for all requested informations, record searches whatever. We can go on line and discuss. For those internet challenged there is also the telephone, archaic, but still there.



What say all of you. Shall we go to the Lists of Properties, and run a gallop to break a lance or tilt the flail of practice? Once more dear friends for England and for Harry? Who the hell is Harry? Oh I know he's the new Estate Agent.



Baited, Dated, Lucius






Comments(20)

  • Sash13th December, 2003

    Indeed a very nice idea.



    I agree with Gregg, having visual interaction with people would be essential. After all, on the net you are who you say are. grin



    BTW: Yes having multiple web cams in different locations displayed all together can be done. If that is something you guys want to do let me know.



    Mike

    • Lufos14th December, 2003 Reply



      I appreciate your research but you have missed some of my truly great accomplishments.



      I Lucius Foster hold a world record. In 80 % of the missions I flew I wet my pants.



      In the other 20% I threw up.


  • Lufos14th December, 2003

    The original Deal Shop ran for a period of two years. At the end of this period of time the five principals were having so much fun and so involved in their own projects, it came to an end. But we all stayed in touch. The Attorney went on to a Judgeship, The Investors retired to their ranches or brothels. The Real Estate Broker got so wrapped up with building shopping centers he went on to build some of the largest ones in the world. I just split my time, building, syndication, designing small homes for eclectic types and gathering properties. We all stayed friends and conversed almost daily. Please remember I was the youngest. It was a fun very creative time.



    Lucius

  • GFous13th December, 2003

    Lucius,



    A wonderful concept but not sure I can handle in virtual realty - like to have the face to face.



    I do have a suggestion that will get us close. I use MSN messenger and video conferencing.

    One night I couldn't sleep thinking about a deal I was working on. Got up and started playing "what ifs" on a spread sheet. Changing lease rates, terms on notes etc, All the sudden "ding" my client/friend signs on messenger, Long story short we talked to each other, saw each other ( webcam), and then started application sharing on line. Together we made the deal work and by 4 oclock I went to bed with a smile on my face .....



    Not sure if you can do multiple webcams at once........



    Gregg Fous

    Investor, developer, RE broker, landlord.



    PS - Are you Lucious Foster III ??

    • Lufos13th December, 2003 Reply

      Yes, I am I am Lucius Fisher Foster III



      My mother said in answer to the question, "People of Limited Creativer Ability have a tendency to repeat and repeat and in this case repeat. Sorry, but like the numbers tatoo'd on my left forearm there is little I can do but Ah Yes, play the Lottery.



      Lucius

      • rickomarsh14th December, 2003 Reply

        Lucius Fisher Foster III, as one of the most decorated men in the history of the usaf?

      • DaveT14th December, 2003 Reply

        Lieutenant Colonel Lucius Fisher Foster III, a former Battle of Britain fighter, and one of the most highly decorated fliers in the US Air Force, is also reported to be the father of the Oscar-winning star ("Silence of the Lambs" and "The Accused") and Hollywood power figure, Jodie Foster.

    • rickomarsh14th December, 2003 Reply

      I was not going to bring up the family part but wanted to see how long it would take. Sorry Lucious I love resaerch just like you.

      • Ruman14th December, 2003 Reply

        Yes I think everyone has done their research on Lucius when he brought up looking for investors. smile

  • davese30th December, 2003

    Count me in as well.



    PFC, FC, SUB2's LO

    • davese3rd January, 2004 Reply

      Pinellas and Pasco counties in Florida

  • jackman31st December, 2003

    i had to read all this way just to realize i haven't yet replied to this. i thought i did. i'm interested and it seems i'm the only Philly, PA rep so far!



    preforeclosures, buy 'n hold, lease/option, wholesales ...



    spencer

  • Lufos2nd January, 2004

    Deal Shop. 1. Containers re housing.

    ____________________________________

    The first of the presented deals has been given to Joel et al to review prior to posting and I await with eager anticipation. It is of course addressed to all of you who have responded. Just post away after reading and I will download all posting in my office and start lining up the responses. Remember

    it is allowed to go a little crazy thats where it gets creative. Enjoy, Lucius

    • davese3rd January, 2004 Reply

      Lufos,



      I did not receive the post. Could you resend to me please?



      Thank You

  • omega128th January, 2004

    You see Lucius, you repeat enough time how you have no luck with women and you get Ms. Victoria Mudge, a beautiful realtor from SF bay aria, exploring the weakness in those unchallenged defense lines. Fortify and defend. Remember your training, sad Gen. Patton and went to history.



    One way or the other, it seems that you are beginning to get lucky when you list expect it.



    Jealous Omega

  • commercialking9th April, 2004

    Lucius,



    Count me in. I've been doing deals for only 25 years now, done things from senior housing limited partnerships to rental rock-and-roll rehearsal spaces. Currently working the eastern half of the country. I buy (sometimes with investors) obsolete buildings no-one can figure out a use for and I figure out uses sometimes we hold. . . sometimes we sell. No conventional deals, no houses, no apartments (unless there's something really odd about them).



    Mark Reynolds

    773-294-0603



    You make the most money when you do something no-one else is doing.


  • InfoSponge300013th April, 2004

    I will submit deals to your Deal Shop.



    Talents: Business programming, database design, information analysis, eCommerce, web programming, etc. (Professional nerd)



    Experiences: Limited exposure to REI. I was the property owner in a Lease to Own deal brokered by a third party. Both of the lessors that were in the property ended up not purchasing and now I am living there.



    Other things I have to offer: I can (and have) automated some information gathering. I currently run a program that looks for properties that are offered for sale at or below 80% of the average for their neighborhood. With this, I am finding several deals weekly, but I don't have the $ to jump into them myself. I will be glad to conduct further research into any property my system flags as one worth looking into. I am only searching a few zip codes close to my home right now.



    If I had access to more data repositories, I would be able to flag better deals earlier in the process. The possibilities are exciting!



    Qou Vadis: Pay off IRS debt by end of 2005 (49k left to go - It was a stupid mistake, don't ask); Full time investor by end of 2006.

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