I would just like to speak to other agents who are doing sub2 and how being an agent has assisted in looking for deals. Just looking for creative ideas for us agents.
Hmmm doesn't seem like there are a lot of creative realtors swimmin arownd this site. Glad yr here... Some fun, interesting place to be for a little while every day. but is second to C-Span int he morning.
Now who do you think dreamed up all of these fine little methods? They all came from us in the Real Estate Business. I have been a broker since 1954 when I left Vietnam and returned to my home here in the wilds of Los Angeles. It iwas much better here. At least the incoming fire is from clean amunition. Really the Viet Ming er Viet Cong never kept their amunition clean. But here when someone becomes enraged on the freeway and the gunfire starts, why it takes me back.
I have seen nothing on this site that we in the Deal Shop did not do at some time or other. The only thing that I have not seen is at the Tax Sale so many years ago when an excited bidder who was getting raised on every bid. Finaly had enough and yelled FIRE! Nice try, did not work.
Of course nobody has mentioned the "Shuffling" that went on at the early foreclosure sales some 30 years ago. You would start to bid and a member of the Syndicate would step on your toe and start yelling, so you were distracted and failed to bid. Oh yes and the Syndicate having achieved a winning bid would then adjourn to a coffee shop and all the members would sit there and bid it up some more each participating at the level of their bid. Ah the good old days.
Or the "Concurent Agency" deals which were the beginning of big time flip/flops aka Double Agency.
Or the escrow that closed one bright and early morning. Ignoring the fact that the house in question had changed Zip Codes the night before. Of course all those in the know knew that the foundation was crumbling and as it was on a down slope lot, it was only a matter of time.
We did it all. The Pre runs prior to foreclosure. we ran from the 30-60-90 pre filing lists from the Savings and Loans. Much much earlier.
We are the Spiritual Fathers of these who now describe themselves as Real Estate Investors.
You are not alone, we are still Investing. Sometimes a bit esoteric. This is a time of a Spike in Real Estate so multiple Flip/Flops are the order of the day and those buyers at the end of the daisy chain are mostly from overseas, newly arrived, flush with family money. Lets see now 2 bedroom 1 bath in the heart of the North Hollywood Slums house about 740 Sq. Ft. Built in 1926 by Gypsys late at night. All plumbing in white Spec 40 plastic. In forcl at $220,000 Flip Flop by a local Investor and then sold to a specky person from Israel $345,000 who then Flip'd it again for $410,000 to another newly arrived from Israel. Their reasoning. The property is zoned R3. Multiple Residential. They can tear down the house and build units maybe even 4 units. Damn I wonder if anybody told them that the property is deed restricted to single family only. I wonder if anybody told them that a series of new laws are coming on which requires a big percentage of every new multiple dwelling have reserves for Low Cost Housing. I wonder if anybody also told them that the mean income for families in that area is about $33,000. Seee
you all get educated here on TCI. You get to do the early flip/flop, the one that brings the note current and avoids the foreclosure. Right On.
Hmmm doesn't seem like there are a lot of creative realtors swimmin arownd this site. Glad yr here... Some fun, interesting place to be for a little while every day. but is second to C-Span int he morning.
Creative aspects of Real Estate. Really.
Now who do you think dreamed up all of these fine little methods? They all came from us in the Real Estate Business. I have been a broker since 1954 when I left Vietnam and returned to my home here in the wilds of Los Angeles. It iwas much better here. At least the incoming fire is from clean amunition. Really the Viet Ming er Viet Cong never kept their amunition clean. But here when someone becomes enraged on the freeway and the gunfire starts, why it takes me back.
I have seen nothing on this site that we in the Deal Shop did not do at some time or other. The only thing that I have not seen is at the Tax Sale so many years ago when an excited bidder who was getting raised on every bid. Finaly had enough and yelled FIRE! Nice try, did not work.
Of course nobody has mentioned the "Shuffling" that went on at the early foreclosure sales some 30 years ago. You would start to bid and a member of the Syndicate would step on your toe and start yelling, so you were distracted and failed to bid. Oh yes and the Syndicate having achieved a winning bid would then adjourn to a coffee shop and all the members would sit there and bid it up some more each participating at the level of their bid. Ah the good old days.
Or the "Concurent Agency" deals which were the beginning of big time flip/flops aka Double Agency.
Or the escrow that closed one bright and early morning. Ignoring the fact that the house in question had changed Zip Codes the night before. Of course all those in the know knew that the foundation was crumbling and as it was on a down slope lot, it was only a matter of time.
We did it all. The Pre runs prior to foreclosure. we ran from the 30-60-90 pre filing lists from the Savings and Loans. Much much earlier.
We are the Spiritual Fathers of these who now describe themselves as Real Estate Investors.
You are not alone, we are still Investing. Sometimes a bit esoteric. This is a time of a Spike in Real Estate so multiple Flip/Flops are the order of the day and those buyers at the end of the daisy chain are mostly from overseas, newly arrived, flush with family money. Lets see now 2 bedroom 1 bath in the heart of the North Hollywood Slums house about 740 Sq. Ft. Built in 1926 by Gypsys late at night. All plumbing in white Spec 40 plastic. In forcl at $220,000 Flip Flop by a local Investor and then sold to a specky person from Israel $345,000 who then Flip'd it again for $410,000 to another newly arrived from Israel. Their reasoning. The property is zoned R3. Multiple Residential. They can tear down the house and build units maybe even 4 units. Damn I wonder if anybody told them that the property is deed restricted to single family only. I wonder if anybody told them that a series of new laws are coming on which requires a big percentage of every new multiple dwelling have reserves for Low Cost Housing. I wonder if anybody also told them that the mean income for families in that area is about $33,000. Seee
you all get educated here on TCI. You get to do the early flip/flop, the one that brings the note current and avoids the foreclosure. Right On.
Cheers Lucius 8-) 8-)