Posted by Eduardo (OR) on October 29, 2000 at 17:58:43:
Hi Zora–
You forgot to explain what system it is that you are interested in. Perhaps you just meant “creative real estate?” If so, are you really a broker? --Eduardo (ex-broker)
Brokers using system - Posted by Zora
Posted by Zora on October 29, 2000 at 11:52:21:
Hi, I am interested in comments from other brokers who are using this system to help their customers and thus, increasing their real estate business.
Systems? Various CRE systems? - Posted by Bill Gatten
Posted by Bill Gatten on October 29, 2000 at 20:25:06:
Hi Zora,
As Eduardo mentioned, I’m not actually sure what your question is about, but if it has to do with whether or not Realtors can profit from “creative financing,” my company has many hundreds of Realtors who have profited greatly, from use of our PACTrust system, here in California (we?ve been marketing outside of Ca. for a short time and almost exclusively to investors). One Broker in Palmdale, California (Bruce Barretta of Prudential Realty pulled in nearly $2,000,000.00 in net real estate commission for his company over a 2.5 to 3 year period during the worst real estate recession we’ve ever experienced by use of the PACTRust. A few others include Re/Max offices across So. Cal. (Re/Max All Stars in Riverside, Ca. for one), and the list goes on?C-21. Coldwell Banker, ERA, Realty Executives, Realty World, etc… (an abbreviation of the list can be seen on John T. Reed’s site amidst his condemnation of me in his Omnipotent Guru Rating section…a list which he demanded as proof of our claims, but completely ignored once it was provided).
If I totally missed your point here, Zora, forgive me.
Bill Gatten
Re: Broker who’s used much creative financing - Posted by Ginger Harris
Posted by Ginger Harris on October 29, 2000 at 18:42:21:
I have over 100 failed offers that created the experience necessary for me to learn how to perfect the offers and how to realize that I definitely do not want to write up offers to get more business. People still come to me and ask for help. I purchased over 20 units myself all with no-money-down financing. I moved 8 houses by relocating and renovating them all with creative, no-money-down financing. I became very creative. It is a waste of time because very few cusomers want to listen. Some are not willing to take risks because it is not within their comfort zone. I talk more people out of deals because I have definitely learned what the risks and precautions are that infomercials fail to mention and CS actually prohibited me from potentially mentioning on his program. It takes a long time to educate buyers about creative financing and I want them to understand (to the best of their ability) what is involved. The Oregon Real Estate agency warns everyone about the sellers not really understanding that the buyer really puts no money into the deals and that they are financed for 100%plus financing and the seller’s equity is jeopardized if the buyer walks away. OR Real Estate Agency terms these “Buyer Walk Aways”. I am realizing in our small community of about 50,000 in our county, that I know of too many deals where the buyers DID walk away and the seller was left holding the bag. If you have any questions, let me know. Ginger