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

[Reality]

Because its' cash. I cash investor needs the investment property to have enough equity in it to make it worth buying in the first place

I left him with enough room where it was still great deal, where he could either sell to somebody else, or sit on it.

Repped. I have a ton of questions but I'll spare you right now, lol. Props for sharing knowledge. Do @ me when you make a thread though.

 

[MF_BREW]

Got to learn, might come in handy.

 

[ZoeGod]

its a lot of dope boys out there who transitioning into real estate right now

That is a positive cuz they know how flip product that is 30k and sell it and make 80k in profits. Id rather see them getting into flipping cribs and make that dirty money clean.

 

[Arithmetic]

Don't just watch this without supporting him. Support doesn't have to be in monetary form. Leave a comment, shoot him an email let him know you support his endeavors and got his back. nikkas need to clique up. fukk d'Evils.

 

[ORDER_66]

Don't just watch this without supporting him. Support doesn't have to be in monetary form. Shoot him an email let him know you support his endeavors and got his back. nikkas need to clique up. fukk d'Evils.

Whats his email address?

 

[Astroslik]

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.

How do you go about finding the realtor who brought you the property, as well as the buyer?

How much did you break them off?

 

[notPsychosiz]

Suits are for people who can get fired

real bosses dress however they please

You are confusing wearing a suit with having to wear a suit.

 

[Afro]

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.

SMH I ment to ask you, what stops them from going around the middle man? AKA you? Since you knew the realtor I'm sure that helped a lot. But what about a guy starting from the bottom?

 

[MewTwo]

If I learned anything from my internet marketing days is that internet gurus tend to be full of shyt. If this guy is a genius and knows so much about real estate then he should be making money off of that. But I bet he makes most of his money off selling courses and training DVDs.

"Those who can, do; those who can't, teach"

Those who can, do; those who can't, teach

 

[JLova]

he most likely sold his last key to get money/credit/property and another thing he musta did wholesaling which I believe helped him get capital without spending too much.I don't understand how people can think this a scam it's real estate...God damn
I do wholesale properties so I can get enough capital to purchase properties
He helped me build my credit I just followed what he said on youtube

I mean, scam or not, the fundamentals are the same. Leverage real estate to make money. All starts with that 1st property....then grind to get a 2nd property. I've been telling nikkaz for YEARS on this board to get in on real estate. Just like dude said, stack up....buy a house that you can live in and rent out the basement or a couple floors. The more self contained units, the better. This way, you have people paying your mortgage (you live mortgage free). You then will have enough money over time to buy another property. It takes some time, study, sacrifice and patience.

 

[Master Teacher]

SMH I ment to ask you, what stops them from going around the middle man? AKA you? Since you knew the realtor I'm sure that helped a lot. But what about a guy starting from the bottom?

The purchase agreement, once the seller signs that I have control over the deal for the amount of days set in the contract.

In this case it was 30 days which is the norm, because sellers do not want to have their property tied up by a buyer who can't close

but in some cases you can get 90 days

some during that time period if a third party wants to buy they can't buy pass me, they can either wait for agreement to expire or not

the end buyer didn't know who the seller was or how to contact them, they only knew me, and he only dealt with me, so he couldn't go around me due to a lack of information, plus I was locked in anyway because I had signed the purchase agreement first has a buyer, and he had signed with me as the seller. That's the full proof, figure four leg lock right there.

 

[Astroslik]

The purchase agreement, once the seller signs that I have control over the deal for the amount of days set in the contract.

In this case it was 30 days which is the norm, because sellers do not want to have their property tied up by a buyer who can't close

but in some cases you can get 90 days

some during that time period if a third party wants to buy they can't buy pass me, they can either wait for agreement to expire or not

the end buyer didn't know who the seller was or how to contact them, they only knew me, and he only dealt with me, so he couldn't go around me due to a lack of information, plus I was locked in anyway because I had signed the purchase agreement first has a buyer, and he had signed with me as the seller. That's the full proof, figure four leg lock right there.

Do you mind answering my question breh? That's some pretty vital information

 

[Rawtid]

How did he get the money for a 2 family house in a nice part of Jersey at the age of 24-25?

Tax sale, unpaid water or ground rent or a Foreclosure.

 

[Rozay Oro]

Was just thinking about getting into real estate...i will be taking notes...

Your avy, names please

 

[James Worthy]

Your avy, names please

Jada Foxx, Nyomi/Naomi Banks