News Flash: Real Estate Investing Requires Work
24. Mar, 2009 
2 Comments
I’m still laughing.
I just got off the phone with a guy we’ll call Bavi. He’s requested a refund for the Portfolio Loan Blueprint because “it looks like it requires some work.”
I said, “So, you’re interested in investing in real estate but you don’t want to do any work?” and he said, “YES!”
Wow.
You know, I could deliver a lecture here about how anything that produces income requires some work but I’ll save it. I think the actual investors that read this will understand. The opportunity seekers won’t.
I personally am happy that Bavi won’t be contacting portfolio lenders and making money from those calls like I taught in the Bulk REO Secrets virtual class on March 18th. That means there’s more deals for us who aren’t too lazy to pick up a phone and make some money.
Good luck to you Bavi! Try not to get a paper cut from that time card I’m sure you punch every day.
I am living in Seattle and several years ago in the 70′a I owned several multi properties in northern Washington. Landlording has changed now. People are more self centerd , landlords get the run-around , but I still want to be a landlord.
After that I worked as a REaltor for 10 years. I worked in an appraisal orieted company. Which was interesting as I learned to do comparatve market analysis like an appraisal. I do know how objective the independent appraisers try to be. State licensing proceedures were becoming the norm about 1990. I have a high regard for appraisers. They have to defend them selves and balance the critiques of the Realtor, the buyer, the bank. It is the proverbial story of the “The Man the BOy and The Donkey”. You can’t please every one. Now it seems there is no objectivity allowed anymore.
At that time the bank appraisers worked for the bank and so pleased the bank what ever mode they were in at the time. Just like recently, the banks wanted to make silly loans and refi’s. The banks in thier greed gave impossible loans to anyone who applied.
I let my RE licenses, which were on ice for 5 years, expire because I did not want to ‘help’ new homeowners get involved with these ‘unethical’ loans.
Who is at the governmental level that can understand and help control these out of control regulators who are biased in their own favor? Are they subject to public outcry?
Washington state has imposed some new rules that make many difficulties for investors to help distressed homeowners. The realtors can get major fines, as well. Now the investor must disclose that he intends to make a profit at the time of negotiating. And there are limits on the amount of profit whereby the distressed seller can get part of the profit. Even the State AG did not understand the ramifications. Cheri in Seattle