LAZYMAN`S WAY TO WEALTH - Posted by A Miller


#1

Posted by Doug on December 17, 1998 at 04:36:24:

Rob I can appreciate your loyalty to him and I am happy that his courses worked for you… I dont want to knock him but Joe started it and I am only “calling them as I see them”(one of Joe’s Quotes) … I have seen some of his courses and I was not impressed…

Best Wishes and Much success

Douglas Timko

notes4sale@yahoo.com


#2

LAZYMAN`S WAY TO WEALTH - Posted by A Miller

Posted by A Miller on December 11, 1998 at 11:24:49:

A friend of mine makes more money with the least amount
of effort Ive ever seen. He gets great deals not concentrating on the property but on the agents-commission sales people. He maintaines he has 3000 free employees working for him to find deals through the local real estate board. He calls on ads, etc and tells them who he is, what hes
looking for, how much money he can move and sits back. The type of response he gets is like this. An agent calls him and says her office just listed a duplex that looks like a great deal. It wont to in the
multiples for awhile BECOUSE THEY WANT TO KEEP IT IN
THEIR OFFICE(to get the whole commission)
So he goes out there, looks at it and buys it-$30,000
under market.
The Realtor`s dream is YOU!!! A qualified Buyer to
generate a commission to them.
My friend says the key to wealth is people-concentrate
on them and let the deals come to you.
Anyone work the agents like this?


#3

Re: LAZYMAN`S WAY TO WEALTH - Posted by Bill Gatten

Posted by Bill Gatten on December 12, 1998 at 18:01:16:

Mr/Mrs/? Miller,

No offense (honestly), but…

In most regions I know it’s against R.E. Commissioner and RE Board Regs, as well as DRE Regs. to purposefully fail to post to the MLS within a certain period of time after taking a listing, unless its a pocket listing. Furthermore, I can’t imagine any agent taking a listing without arriving at the listing appointment with a thorough knowledge of the property, the area, the prices, all recent sales; as well as with a current Property Profile and Comparative Market Analysis under his/her arm.

If any licensee is ever involved in a sale that is significantly below market, wherein the client has not been provided with ample comparative marketing data, and which smells of collusion: he/she would be treading water in some real deep poo.

Moreover, do you know what they do to brokers whose agents knowingly work in any manner contrary to their clients’ best interests? The broker loses his license, his business and all he’s worked for; then spends the rest of his life hunting down the agent who did it to him (OJ style): and upon finding him, he hits him on the crown of the head with an ice axe.

When you post anything on this board, be very wary…they’ll jump you in a heart beat (a good thing)… it is haunted by some of the wisest and most savvy, war-torn R.E. investors in the U.S. today. Second hand here-say is fun, but it needs to be well founded in fact, well thought out in advance, and meaningful to the rest of us.

Bill


#4

Yeah, 3000 crooked Realtors. That’s the ticket. - Posted by Irwin

Posted by Irwin on December 11, 1998 at 20:55:16:

What a crock! Unless your town just happes to have 3,000 crooked real estate brokers, I’ll wager that you’re greatly over-stating your friend’s success with
this “technique”.


#5

Let me get this straight . . . - Posted by Joe Kaiser

Posted by Joe Kaiser on December 11, 1998 at 13:20:03:

Even though the agent works for the buyer, he’s decided it makes better sense to get less than full market value for his client and instead “earn” a full commission by listing it well below market value and doing an quick and dirty deal with a cash investor.

Does that sound right?

Shouldn’t the agent be more concerned with getting full value for his client rather than getting a full commission for his pocket, or am I missing the point?

Joe


#6

Re: LAZYMAN`S WAY TO WEALTH - Posted by Jim Simons

Posted by Jim Simons on December 11, 1998 at 11:40:20:

I’d love to be able to do this too, but I don’t have the cash resources and don’t know how to go about finding investors. If anybody can help - either info or excellent course/books they have read, please let me know.

Thanks and God Bless


#7

Re: LAZYMAN`S WAY TO WEALTH - Posted by Rob FL

Posted by Rob FL on December 12, 1998 at 19:56:19:

I agree wholeheartedly with Bill G. It is against the code of ethics of the N.A.R. to not put a listing into MLS immediately. Otherwise this is against their clients best interests and can cause major problems for the Realtor and their broker if they ever get caught.


#8

Re: Joe add the numbers. . . - Posted by Doug

Posted by Doug on December 15, 1998 at 02:08:39:

JOE Kaiser…
You surprise me… Here is another example of your unresearched opinion like the post you made about a phony way to post on 12/14/98… Did you understand what Miller said… The guy buys the property for 30,000 less than the sale price… Calculate these numbers Joe… 100,000 property sold with a split commission ( commission we will use is 7%) is 7,000 commission split between the 2 realtors that brought the sale together. Means 3500.00 each… But a 70,000 commission as an exclusive sale is a 4900.00 commission without split… Dont you know how to add which is better for the realtor??? I guess you must of missed the point… And as far as calling it a dirty deal on the realtors part… WELCOME TO REALITY
Douglas Timko
notes4sale@yahoo.com


#9

Re: Let me get this straight . . . - Posted by A Miller

Posted by A Miller on December 11, 1998 at 13:50:00:

Didnt mean it to sound so bad. Most of the great deals I find is because a realtor makes a mistake. He prices the property wrong. I know my area better than any realtor and have a pretty good idea what I can turn a property for or what to do to the property to bring my profit. An example-a friend listed a great property in my area of expertize. It was unusual because it was on a huge lot, estate type home etc. I didnt pounce on it that
1st day. The 2nd day 6 offers come in and it sold for
$76,000 ofer asking price.
The realtor said "I just didnt see it. Im amazed!"
Realtors make mistakes all the time-so do FSBOS.
Thats where a large part of the deals come from. If youre a seller and you list your house and it sells
in 2 days with multiple offers. Isnt this kind of a clue you could have gotten more for the property? Some never get it. One seller told me "Wow, my agent really did a heck of a job." Nobody hand you a bunch of money. Youre looking for
ERROR!! A MISTAKE!!
By the seller, realtor, bank, appraiser etc.
I could write a book on the mechanics of a deal
and why they come about. They always appear in good
markets and bad.
A MISTAKE!!


#10

Re: LAZYMAN`S WAY TO WEALTH - Posted by A Miller

Posted by A Miller on December 11, 1998 at 12:34:09:

The most important concept for BEGINNING INVESTORS.
DONT FOCUS ON THE MONEY!!!! Money is all over the place. Its 1000 times easier to get than the DEAL!!
The DEAL is KING!!
When you have that go to family first, then to friends,
then to the newspaper, etc.
Remember, when you work the agents, its like being on the internet. You are equal with the richest investor or the biggest company. Youre dealing by phone.
You can prospect for a deal without a cent in the bank
or youve just put your money into a property. When someone hands you a great deal you should be able to joint venture or get the money. Most all investors I know if you say IVE GOT A GREAT
DEAL TO DOUBLE MONEY OR BETTER-YOU PUT UP THE MONEY AND
WELL SPLIT 50/50. Theyll say yes-find some more.
Its utterly amazing in this business you can be broke and still prospect your way to megabucks. Its the old saying-THE MAN WHO THINKS HE CAN AND THE
MAN WHO THINKS HE CAN`T ARE BOTH RIGHT!!!


#11

I did, and you’re up to two . . . - Posted by Joe Kaiser

Posted by Joe Kaiser on December 15, 1998 at 18:18:18:

That’s two posts out of the eleven of yours I read that make at least a little bit of sense. That third one seems like a tough nut to crack.

Joe


#12

Re: Let me . . . - Posted by Bill Gatten

Posted by Bill Gatten on December 12, 1998 at 17:57:17:

Mr/Mrs/? Miller,

No offense (honestly), but…

In most regions I know it’s against R.E. Commissioner and RE Board Regs, as well as DRE Regs. to purposefully fail to post to the MLS within a certain period of time after taking a listing, unless its a pocket listing. Furthermore, I can’t imagine any agent taking a listing without arriving at the listing appointment with a thorough knowledge of the property, the area, the prices, all recent sales; as well as with a current Property Profile and Comparative Market Analysis under his/her arm.

If any licensee is ever involved in a sale that is significantly below market, wherein the client has not been provided with ample comparative marketing data, and which smells of collusion: he/she would be treading water in some real deep poo.

Moreover, do you know what they do to brokers whose agents knowingly work in any manner contrary to their clients’ best interests? The broker loses his license, his business and all he’s worked for; then spends the rest of his life hunting down the agent who did it to him (OJ style): and upon finding him, he hits him on the crown of the head with an ice axe.

When you post anything on this board, be very wary…they’ll jump you in a heart beat (a good thing)… it is haunted by some of the wisest and most savvy, war-torn R.E. investors in the U.S. today. Second hand here-say is fun, but it needs to be well founded in fact, well thought out in advance, and meaningful to the rest of us.

Bill


#13

Re: Let me get this straight . . . - Posted by Laure

Posted by Laure on December 12, 1998 at 11:45:05:

I know a realtor who does exactly this !! He kept my listing out of the MLS to get the whole commission. The flip side of it was that the rehab was not completed, so it really wasn’t ready to list. I got 8K more than I wanted this way though ! So, I’m not complaining :slight_smile:


#14

Re: LAZYMAN`S WAY TO WEALTH - Posted by Doris - Va.

Posted by Doris - Va. on December 11, 1998 at 13:14:01:

Just finished that great post from Scook85 but when I read your post it really hit home. To be honest - I know that you can structure a deal with no money out of your pocket. Knowing it can be done and convincing myself that I can do it myself and not get laughed out of a realtor’s office is another thing. I know this is simply FEAR OF REJECTION. I think you have outlined the perfect mindset to overcoming this fear. I will read this post over and over TIL I GET IT RIGHT. THANKS SO MUCH. DORIS = VA.


#15

Re: I did, and you’re up to two . . . - Posted by Doug

Posted by Doug on December 16, 1998 at 08:41:34:

Well thats good… Hopefully someday I will find 1 of yours that make sense…
Douglas Timko


#16

Re: I did, and you’re up to two . . . - Posted by Rob FL

Posted by Rob FL on December 16, 1998 at 19:30:50:

Don’t knock Joe too much. He has alot of incredible courses available, and just reading through them he definitely knows his stuff. Make sure you know who you are criticizing.