OfflineJust a little background info to get you a better idea of what’s going on.
My favorite buyer/Realtor/Broker has made me over 100,000 in the last year and a half. He buys my crap houses that nobody else wants, and he never even tries to negotiate a lower price from me. I currently have a half dozen deals in escrow with him that will put some serious Cha Ching in my wallet.
Well, a few days ago he calls me and asks if I want to make an easy 10 Grand, I said yea, what’s up? He tells me he has a multiunit deal going that fell out of escrow and went past the closing date.
He wants me to call buyer and pretend it’s my deal and I can get it to him without the big Realtors commission. I call sellers without a clue of what’s going on, I got the speaker on and when they ask me questions about the occupancy and condition of the units, I’m dumbstruck, the Realtor is giving me hand signals and shaking his head yes and no, giving me the time out signal, several times I had to put the phone on mute. It was nerve racking and stressful.
I email the buyers new contracts without the Realtors name on them and minus his commission, but when him or his partner wud call me back I couldn’t answer till I got back with realtor at his office while we did the song & dance & hand signal charade thing again. A few times I had to tell buyer I wud check with the seller and get back to him.
These buyers are not Kansas City hicks but sophisticated multi-millionaires and I was really nervous, tongue tied, intimidated but I tried to play it off cool.
We finally got all the details worked out and we are headed for a fast closing within the next few days.
I know I’m not doing anything illegal, just being deceptive as all get out. But hell, in the end, the buyers get the property at a great price without paying a high realtors commission, the seller got the price he wanted and me and the Realtor are walking away with some serious pocket change.
Will I anger the gods? Will I get bad karma? Did I compromise my moral standards?
I can play this off as a job well done, & that’s just business, cuz hey, you know, in the end everybody will be happy. I’m not sure how happy the Realtor will be & how much commission he lost out on. He will probably be the least happy. Were supposed to be splitting a 20K FINDERS FEE, BUT WHO REALLY KNOWS WHAT HE'S MAKING.
Let’s make some money.
Rando
Rando
The Realtor called today and told me he has a certified check for me in the amount of $10,000 Frikin Dollars.
And I got a deal closing tomorrow for 5 Grand. I'm splitting 15 Grand with my buddy Bob and his bird dog who found it.
Also I have several other deals in escrow and getting another one on contract tomorrow and just got another offer accepted today.
Some crazy times, I've never had so much fun making money.
Well actually, before Real Estate, making money meant working a construction job in the heat and cold and dealing with a psychotic character challenged boss and finicky homeowners.
It meant getting up and 6 AM, It wasn't any fun at all. It's still a bad recent memory.
I have my buddy/brother in law that I worked with for years rebuilding my back yard patio with new paint and new metal roofing, I'm also having him build a pre fab storage shed.
It's sad how he's struggling and 60 years old and still doing this kind of work to earn a lousy $15 an hour. He asked for an advance so he cud buy gas and groceries.
I've tried many times to get him started in Real Estate, Oh well.
Let's make some Money....
Rando
Rando
Rando I hear you man it's agonizing sometimes the choices we have right. LIke you said everyone is getting paid except the agent right
which is not too bad, oh well.
It is nerve racking tho right, it's almost not worth it all the stress, but hopefully those situations are few right. great job man be well.
Tony
Go faster do more! GFDM!
Haha!
Rando... in the end, the buyer got a good deal, and the realtor realized that he could either lose his commission completely or share the profits with you...
Realtor could have filled you in with the details of property before you contacted buyer though...
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...