Black Real Estate agent gets FIRED for encouraging BLACKS to learn about R.Estate investing.

[calixprynce]

You have to understand real estate terminology

lucky for you, I good enough where I can explain it to you step by step.

Doesn't mean you are going to able to execute, because you can literally google how to buy a real estate property without money

Like I said, this why classes, books, and all that shyt don't work. Because at the end of the day you still need the pieces to execute.

I started at young age, so I knew people just by being around, and being involved in the streets, so pieces would come to that I can take advantage of

being on the outside, you can still do it, but you will have be like a detective to track down the components you need as well as a good sell man.

Basically you need a property first

In my case this was a commercial property I had gotten wind off from a realtor I knew who was looking for a buyer

This was an apartment building with the purchase price of 300,000, but was really worth 1.1 million, which I will have to go into in another post how to find values of such properties.

So the spread was 800 that's amount of money between the purchase price and the value

Which is a tremendous deal, ideal or an investor. A good property like that, it hasn't hard to find a buyer. A few phone calls, a few messages, wasn't long before somebody brought me a cash buyer, the end buyer I will call him.

I drew up two contracts, one contract with me as buyer at 300,000. The other contract was 500,000 where I have the price at a point where I'm getting cashed out, as well as the realtor who brought me the property, and the person who brought me the buyer I will pay out the proceeds.

Since this was a cash sale, I can execute both contracts at the closing table, which is called a simultaneous close. it can only be done with a cash buyer, because the bank will not send money if the seller on the purchase contract isn't on the title.

But with a cash sale I don't need to worry about chain of title, I can effectively buy the property and sell it at the same time, using the end buyer's cash and never doing anything but move papers around.

you should make a thread B

 

[O.G.B]

Drug money likely. Probably sold his last key,boost his credit and bought a house. I have heard stories other Big Willie nikkas who got out of the game through real estate.

Thing is Jay Morrison was a former drug dealer. It's not hard to think once he came out of prison he bout his last key,cut it up sold it,took the bread and bought a house. However there is plenty of tools to get into real estate FHA loans and etc.

So the fukk what if Morrison invested drug profits into a legitimate business like Real Estate? Throughout history unethical & illegitimate practices are also how many wealthy whites made vast fortunes or formed empires. Only naive fools believe that strictly following the letter of law will completely guarantee success as a entrepreneur.

 

[Master Teacher]

you should make a thread B

Its a lot of shyt and terminology, I didn't have a heard time getting my license, because I had done deals and learned by going through the process, but when I came out to cali to get my license, it was a lot of new shyt I had to learn pertaining to that state in particular

I'd suggest taking the real estate class pay the 400 dollars or whatever, just so you can grasp the terms, because if I start spouting off it will be hard to grasp if I'm not there to show you in person.

As far as Cali though, its a gravy state

Just go after the sheriff sales where people lost their homes to taxes

people go to jail, get killed, all types of reasons why they lose to back taxes and sometimes it's not even a lot, just neglect, or they were incapictated whatever

this is the easy way to get a turn key property for cheap, in cali in particular because you can take possession of the property quicker than in most states

 

[calixprynce]

So the fukk what if Morrison invested drug profits into a legitimate business like Real Estate? Throughout history unethical & illegitimate practices are also how many wealthy whites made vast fortunes or formed empires. Only naive fools believe that strictly following the letter of law will completely guarantee success as a entrepreneur.

if the coli was full of real nikkas , nikkas could pitch in , work, profit, and get some businesses/programs goin

 

[Ronnie Lott]

Suits are for people who can get fired

real bosses dress however they please

I bet you thought you said some deep shyt

 

[calixprynce]

Its a lot of shyt and terminology, I didn't have a heard time getting my license, because I had done deals and learned by going through the process, but when I came out to cali to get my license, it was a lot of new shyt I had to learn pertaining to that state in particular

I'd suggest taking the real estate class pay the 400 dollars or whatever, just so you can grasp the terms, because if I start spouting off it will be hard to grasp if I'm not there to show you in person.

As far as Cali though, its a gravy state

Just go after the sheriff sales where people lost their homes to taxes

people go to jail, get killed, all types of reasons why they lose to back taxes and sometimes it's not even a lot, just neglect, or they were incapictated whatever

this is the easy way to get a turn key property for cheap, in cali in particular because you can take possession of the property quicker than in most states

how do i find those ? zillow?

 

[big bun]

Suits are for people who can get fired

real bosses dress however they please

Go read a book or something, man...

 

[O.G.B]

Its a lot of shyt and terminology, I didn't have a heard time getting my license, because I had done deals and learned by going through the process, but when I came out to cali to get my license, it was a lot of new shyt I had to learn pertaining to that state in particular

I'd suggest taking the real estate class pay the 400 dollars or whatever, just so you can grasp the terms, because if I start spouting off it will be hard to grasp if I'm not there to show you in person.

As far as Cali though, its a gravy state

Just go after the sheriff sales where people lost their homes to taxes

people go to jail, get killed, all types of reasons why they lose to back taxes and sometimes it's not even a lot, just neglect, or they were incapictated whatever

this is the easy way to get a turn key property for cheap, in cali in particular because you can take possession of the property quicker than in most states

Much respect for the candid game!

 

[Master Teacher]

how do i find those ? zillow?

Go to the government website of whatever county you live in and search for real property auctions, they should have the date and time for the next one
just go to see what it's like

 

[O.G.B]

if the coli was full of real nikkas , nikkas could pitch in , work, profit, and get some businesses/programs goin

Exactly! Some of us spend more time hating instead of helping each other to where we all could shine.

 

[Master Teacher]

And for you young nikkaz

you can go to community college and take the real estate classes, and you won't need to be a sales agent before you can become a broker

If I would've just got my degree in real estate when I was 18-21 it would've saved me a lot of trouble

 

[Scientific Playa]

good to see young breh turn his life around and dabble in hard asset real estate, and messing with dem tailor-made suit like old school ballers used to do..

i sincerely feel his love for community building.

i'm not too sure about his method of selling and flipping contracts, but if its legal and makes an honest profit then Buddha bless it. i'm more into the buy and hold philosophy, and add on to the real estate portfolio for future generations. for most people fast money has a way of quickly being spent .

and speaking of Sotheby's, their art and auction division got caught up in a big art scandal a while back where the chairman/ceo got sent up the river, so their hands and reputation are not pristine. cnbc' american greed tv show has an episode on it.

The Sotheby's Price Fixing Scandal - The Art Market - Dashboard


http://www.nytimes.com/2002/04/23/nyregion/ex-chairman-of-sotheby-s-gets-jail-time.html?_r=0

Going Once, Going Twice ... Glamour, Greed and Fraud at Sotheby's and Christie's - Knowledge@Wharton

 

[MalikX]

Now that's call reality

Suits are for people with jobs, people who own shyt don't wear suits they were whatever they want

this notion you have to put on a suit to be successful is dumb as fukk

You can sell real estate without even leaving your hosue

when I close my first deal I had afro and smelled like cognac at the closing table with white T on

That shyt don't matter in real life

All that matters is what you can do, what do you have to offer, if you can close you can smell like dog shyt and that same person in a suit will hand you a check

lmao at wearing a suit everyday

 

[DynamoEAR]

Wow

"become the system"

 

[Citi Trends]

So the fukk what if Morrison invested drug profits into a legitimate business like Real Estate? Throughout history unethical & illegitimate practices are also how many wealthy whites made vast fortunes or formed empires. Only naive fools believe that strictly following the letter of law will completely guarantee success as a entrepreneur.

When did he say something was wrong. Why are y'all so damn irate