Comments on: A Day In The Trenches http://realestate.bryanellis.com/429/a-day-in-the-trenches/ Unbiased Real Estate Intelligence For Affluent Investors Wed, 18 Jan 2012 15:39:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jeffrey Smith http://realestate.bryanellis.com/429/a-day-in-the-trenches/#comment-2153 Jeffrey Smith Tue, 02 Sep 2008 20:56:58 +0000 http://www.freerealestatetraining.com/?p=429#comment-2153 Texas has also enacted stupid laws against creative financing, like lease+option is not allowed when there is existing debt on the property *and* the entire monthly payment must be credited to the purchase price. YIKES. While not quite as stupid as Texas, my state of Colorado also enacted a stupid "Colorado Foreclosure Protection Act" to protect naive homeowners from unscrupulous evil investors. The real result is to increase the number of banked-owned properties, because it's far too difficult for good investors to buy properties in accordance with the stupid law. Investors are a necessary and good component of the real estate market. Of course, there are a few bad apples, but the vast majority of investors are good decent people trying to earn a fair living by turning lemons into lemonade. I think "percentage-wise" there are far more bad real estate "gurus" (who are peddling nonsense at ridiculous prices) than there are real estate investors who buy "problem properties" from distressed owners. Texas has also enacted stupid laws against creative financing, like lease+option is not allowed when there is existing debt on the property *and* the entire monthly payment must be credited to the purchase price. YIKES.

While not quite as stupid as Texas, my state of Colorado also enacted a stupid “Colorado Foreclosure Protection Act” to protect naive homeowners from unscrupulous evil investors. The real result is to increase the number of banked-owned properties, because it’s far too difficult for good investors to buy properties in accordance with the stupid law.

Investors are a necessary and good component of the real estate market. Of course, there are a few bad apples, but the vast majority of investors are good decent people trying to earn a fair living by turning lemons into lemonade.

I think “percentage-wise” there are far more bad real estate “gurus” (who are peddling nonsense at ridiculous prices) than there are real estate investors who buy “problem properties” from distressed owners.

]]> By: william http://realestate.bryanellis.com/429/a-day-in-the-trenches/#comment-2148 william Tue, 02 Sep 2008 19:30:14 +0000 http://www.freerealestatetraining.com/?p=429#comment-2148 Thanks - how do u construct your offers for landlords? thanks w Thanks – how do u construct your offers for landlords?
thanks w

]]> By: Joe ONeill http://realestate.bryanellis.com/429/a-day-in-the-trenches/#comment-2133 Joe ONeill Fri, 29 Aug 2008 14:07:41 +0000 http://www.freerealestatetraining.com/?p=429#comment-2133 Bryan, When you say 'creative transaction', do you mean some kind of owner carry back? Reason I ask - last night sometime I read that there is some change in the law regarding owner financing - that it is about to made illegal. I have to go to work soon - so it would be tonight before I could find the source (wow - wouldn't it be embarrasing to me if it was somewhere on your blog!). How would this affect things? It's supposed to happen this October... <strong>Joe - there are laws being passed and/or advanced in various states that will limit and/or eliminate some creative strategies. For example, "subject to" is for all practical purposes worthless in Maryland. I'm in Georgia where we still largely have the freedom to do as we please. That's true for most states too - but decreasingly so. -- <a href="http://www.BryanEllis.com" target="_blank" title="Bryan Ellis" rel="nofollow">Bryan Ellis</a></strong> Bryan,

When you say ‘creative transaction’, do you mean some kind of
owner carry back?

Reason I ask – last night sometime I read that there is some
change in the law regarding owner financing – that it is about
to made illegal. I have to go to work soon – so it would
be tonight before I could find the source (wow – wouldn’t it
be embarrasing to me if it was somewhere on your blog!).

How would this affect things? It’s supposed to happen this October…

Joe – there are laws being passed and/or advanced in various states that will limit and/or eliminate some creative strategies. For example, “subject to” is for all practical purposes worthless in Maryland. I’m in Georgia where we still largely have the freedom to do as we please. That’s true for most states too – but decreasingly so. — Bryan Ellis

]]> By: Meredith http://realestate.bryanellis.com/429/a-day-in-the-trenches/#comment-2122 Meredith Thu, 28 Aug 2008 04:13:14 +0000 http://www.freerealestatetraining.com/?p=429#comment-2122 Sounds like a great idea. Let us know how it when. I too will try it in my area. Sounds like a great idea. Let us know how it when. I too will try it in my area.

]]> By: Barbara http://realestate.bryanellis.com/429/a-day-in-the-trenches/#comment-2112 Barbara Wed, 27 Aug 2008 19:18:25 +0000 http://www.freerealestatetraining.com/?p=429#comment-2112 1. I'd be interested in hearing how these appointments went. 2. What did you say on the phone to get the appointment? 3. What options were discussed at the appointment? Types of offers, etc. If things turn out well, this seems like a low-cost strategy to get appointments with sellers. 1. I’d be interested in hearing how these appointments went.

2. What did you say on the phone to get the appointment?

3. What options were discussed at the appointment? Types of offers, etc.

If things turn out well, this seems like a low-cost strategy to get appointments with sellers.

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