Comments by "Crime Stoppers" (@crimestoppers1877) on "House hunting part 3" video.

  1. Louis. When I buy a house I like to use the same method that real estate agents use First, all transaction are negotiable. Instead of looking for "the house", I search for the houses for sale with the 7 D's. In any monetary transaction including buying a house, one party prefers the cash ( or no mortgage or upkeep debts) and the other prefers the house). Embedded in this is a TREMENDOUS difference in the sold price. Here are the Seven D's of real estate, the more D's the better the deal you can negotiate: Debt, Disease, Death, Divorce, Drugs, Disaster and Denial. Always think from the perspective of the seller. I assume that I will have to make some repairs but these cost less than the cost to buy the asking price house. Clues to use: How many days on Market? Research previous listings for the same house. How much does the "owner" owe on the house ( mortgages and debt)? Does the owner have any D's? Why are they selling the house TODAY?? When I make an offer I usually make an offer of at least 30% below asking with or without a listing agreement. I also make it a NO contingency offer which can allow a FAST transaction with few delays for inspections and other middlemen activities. When I use the word "Negotiate" I have a different definition. I make ONE offer which is my final and best. No emotions it is only one house.out of millions. If the seller make a counter offer it must 100% be in my interest. Agents don't like this attitude until they get their commission checks. Knowing WHY the seller is selling today is paramount. I pay for my own inspections and since it is work paid for by me I do NOT disclose what I learned unless it is in MY best interest. Sometimes I will have 4,5,6 licensed contractors inspect the house. Yes it costs a little but not as much as discovering tens or hundreds of thousands of dollars of damage that they "forgot" to tell me about. With my method you can sell again in ANY market even in a few months depending on the location and cost of repairs. I do NOT buy "fixers". Instant Equity while your new neighbors are drowning in personal debt. 90% of all houses for sale need repairs or remodels. Keep your receipts for your IRS "basis" when selling. Be POSITIVE AND ALWAYS IN CONTROL of your estate agent! You have some experience but you are too nice to the "thieves" who get paid for talking and promising more and delivering less. Do not use the sales word that is spelled WXYZ-tor. They love to sue for "misusing" their national association "trademark". They want to be the ONLY buyers who know these buyers tricks.
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  2.  @SirFrag32  My first house I bought this way California was in a housing bubble. Houses were getting sold within minutes and it was CRAZY. BUT Facts are facts for seller and buyer. I had offers on over 15 different houses and was ALWAYS the low bid. Agents refused to talk to me! Then I got smart. I know that agents NEED BUYERS, QUALIFIED BUYERS WHO CAN CLOSE FAST with NO questions. So I started running credit checks on the seller, Court records, County recorder, police reports and hit paydirt! I learned EVERY 'fact" on the local MLS service by the listing agent was a LIE . So I built my plan. I placed the house under surveillance 24/7 the day of listing,. Wow, lots of agents showing the house and LYING about the facts of the sale ( this is why there is so much paperwork to buy or sell). The most of the paperwork is to PROTECT both agents. I contacted an RE attorney FOR one free hour and told him what I found (lying and cheating agents). I added one simple phrase that looked innocuous in my offer, but it was a potential "hook" that could destroy the seller if she was not compliant. Most agents pretend that they are "attorneys" and talk legal talk when they know NOTHING ABOUT THE LAW. The attorney told me he would intercede on a conference call with Escrow if my offer was accepted to force them to follow the law.--FOR FREE. He was that upset about the lying and deception. My offer with the "poison pill" requirement was accepted by seller with the support of her listing broker! Why? the secret info was that the house would be auctioned in three weeks.if not sold FAST. The seller was upside down on the mortgage, but I DO NOT CARE, I am not the one in debt. So just before closing ( 10 days) the seller did not comply with my WRITTEN offer. I called the listing broker and informed them I was filing a lawsuit if the agreed terms were not met. SHTF! Big time. The agents provided money to the seller to meet the requirements but they were objectively NOT MET. I had them by the "huevos"! So for me to accept their back up explanations I received a 34 foot motor home and trailer pink slip and registrations to ME as the new registrant owner. At closing I traded this equipment to workers for their work to complete the work of the seller. Perfecto! My offer included a statement that ALL persons, and ALL "personal property" (listed) including vehicles and any refuse was to be removed from the situs address 10 days prior to close with an additional walk through on specified date by agents and buyer to assure compliance. It would have cost me over 40 k in legal bills by an attorney if seller did NOT comply. The RE agents were praying that I would be happy since I told them I wanted to know their E&O insurance information (legally required). They were freaking out wanting me to close on this transaction over 30% BELOW comps and asking. If I don't get the property and am NOT satisfied they do not get the commissions and shortly the house will have been auctioned.. I do NOT accept BS from any salesman. They are needing me since I have the money to close FAST. I used a short term mortgage and they did not inspect since they knew I was saving them money and not a risk with my accepted low offer! The listing agent was so freaked out they gave me a key one day before closing! why I discovered four unnamed tenants on the property that were hiding inside. A little "muscle" got them out and I had the property locked down ( with a security patrol) BEFORE closing. 48 hours later, no tenants, and I got the deal of the year. My patrol people were required to ID EVERYONE who tried to get on the property. This attitude scared the "dirtbags" tenants since they all has illegal - sketchy histories. You must be in control of the situation. I see this ALL THE TIME. I never "bow" to agents, they are NOTHING to me.
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  3.  @SirFrag32  I have used this method to buy 2 ranches with beautiful houses and 5 single family dwellings in California, Nevada and Oregon . I NEVER rent or lease out my properties! Instead of "fix, rent and flip", I "buy and hold". My recurring expenses include small mortgages or none, property taxes, utilities, preventive maintenance and periodic housekeeping + lawn maintenance. I have an extremely low taxable income ( I quit my job) and use Long Term Capital Gains as my source of assets. I must live in a house ( usually my latest purchase) one year and a day and meet all other IRS regulations. I am very "poor" with earned income under $38,000/year. Last year I sold a house in a Prime area for over 1.2 M, but bought it for 400 K 12 months before. it was not a "fixer". I put less than 50 k updates into it when I bought it. 100% of the 800 k was my LTCG. Do you think you can live on 800 k while working in "fast food"? I just work no overtime and have a ball "Do you want fries with that?" Try it and you will see just ONE deal is all you need to get rolling. I rarely use mortgage companies and my first was a 15 year fixed with good income. After that purchase I quit and can do it all on my own. FYI banks will give you EASY credit if you make no excuses, talk to the underwriters and tell them what you are doing. if I do use a mortgage I require-in writing that they never sell the servicing rights or the debt unless.they give me a 60 day notice so I can get first dibs on the deal. They LOVE this since I do not pose a risk. Do they care I have low "earned" income? Hell no, when they see the real equity I have on closing. The only problems I face are the initial property searches and costs of inspections and later repairs/remodels. THIS is real retirement. No pensions and NO DEBTS. My fast food job provides my health insurance. I am in better financial shape than the Franchise Owners. They want to work for me! It is all bout positive attitude and you must remain in control of all transactions. I forgot to tell you other than very small mortgage debts I have NO other debts. This beats being an employee and is TRUE freedom.
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  4.  @SirFrag32  Just for fun, I visited Zillow and Realtor.com for Denver. In less than ten minutes I found some excellent DEALS. "Every" transaction is not high! If you get emotional as a buyer you have LOST. I noticed in Louis Rossman's video house hunt #2, Obvious tricks that seller was trying. Look carefully at the little plant next to the front door of one of the properties! It had a RECENT sales tag on the plant that was not removed. Do you think the seller who hadn't cleaned up their property in YEARS, was playing games by sticking a new Green plant which ( had not been watered) for $20 , next to the entrance would add an additional emotional $20,000 to the asking price? You betcha! I am extremely sensitive to estate agent trickery ( faux green lawn paint instead of real turf), fresh super cheap paint from "wallymart", water fountains hiding street noise, wall decorations and paintings from a flea market, staging games, parking a late model European sports car in the driveway etc. In California, agents have been known to hire actors to be well dressed and walk in the area or even go to a local church during an Open House.. All this to add " ambience" and MORE piles of real estate B.S.. i once sold a house ( as seller) with 30 days DOM simply by removing the "chips and dip" from the dining room and replacing with Salsa and Tortillas. Add a little recorded "Viva Mexico!" music and I sold to three families in two hours at 20% above asking! House buying is ALL ABOUT EMOTION. It is ALL about the DEAL! All sides must believe each got the "best" deal for a happy fast close.
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  5.  @prunabluepepper  YES!
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