Elix's 'Anti-Journal' Journal

I've been in RE since my sophomore year in college(1992); a man came to speak at my marketing class and he was in jeans, worn out boots, flannel shirt and a beat up trucker hat. I totally ignored him until he mentioned he owned over 50 homes in the area.

Fifty. Homes.

Afterwards I was speaking with him and asked him if he had any he wanted to sell me and he mentioned "as you can see I like to eat. If you want to treat me to lunch one day, i'll show you the houses I have for sale and will give you a great deal. Two days and $35 less later, he showed me a bunch of the houses he owned right outside campus. I asked him how it worked and what do I do. He asked me what I was doing this summer and I told him taking classes. He said if I want to work for him, he'll help me buy the house at a lesser price.

One summer of interning later, in August of 1922, I bought my first home, a 2 unit home for $65k with owner financing. Me and my friend lived in one apartment and in the other apartment were my other friends. Six months later with the help of my parents, I got a loan for the house, paid him off, and with the excess money put down on two more houses from him, owner financing again.

I've had some serious ups and downs throughout, at one time having 5 houses and only one filled, paying for each and at one time living solely on water for 4 straight days because all my money and savings went towards my mortgage and bills.

But 15 houses bought and sold later, I absolutely love what I do.

Elix
That's a great story. It's funny what can happen when you just take the time to try something different. Imagine if you never asked him about his properties he had to sell... You might not be here typing this storied and I wouldn't be reading feeling even more inspired than I did before I read this thread.
15 homes bought and sold... Wow.
Stan

I'm on my blackberry's all day, all night.

One for business that I use to make most of my calls and when i'm on the internet(right now), the other is my personal which I use for business when i'm on the internet

I have an office with my broker that we hardly use other than to meet with new clients or to get away and chill, which isn't often.

95% of my phone calls are from fellow realtors, investors, lawyers and mortgage banks about new clients, homes for sale, incoming foreclosures, short sales, etc. The other 5% are friends and family.

If I don't have a house(s) to look at during day i'm online or at home on the laptop and,......on the phone.

When i'm in the street its normally looking at a home, speaking w a professional or working new contacts. I call that my 'politic time'

Some days are great; clients that can actually afford the house, actually do have the full deposit they claim they had, investors have the cash they claimed they did, etc.

Some days are hell: clients realize they can't afford the homes, all of a sudden don't have the money in the bank they claimed(had to use some for emergency; parents were going to help out; owed on taxes, etc), investors didn't have the money, investors couldn't find a buyer in time, etc.

For the most part, it comes with the territory, but i'll take a month of the worst times for one day of the best anytime.

If you don't swing at a pitch you can't hit a home run. You may not get a home run all the time. Sometimes you get on base. Sure beat working for someone. Remember Babe Ruth was the home run king in his day but he also was the strike out king as well. Keep swing your bound to hit something

Adam

Its not in anyway imperative to get a license I always tell people

It all depends on your situation

For me, I think it benefits moreso than not. Reason is here in NYC you're hardpressed not to find someone with a 'side hustle' and RE is the perfect place to have a side hustle. If you're the type that likes to find homes for people, or be that person that people know can find someone to buy or sell, you may not need a license. And with enough hustle and time, you can make a great living. But it also limits you.

Whereas generally a person with no license can get a birddog or finders fee for their efforts, an agent can command considerably more as either the buyers or sellers agent. Or both as the dual agent.

Me having a license speeds up most processes in regards to getting a deal done, having a potential firsttime homebuyer trusting in me and them referring me more business.

To me the biggesst benefit is the connections it immediately affords me. Speaking with a new attorney or fellow realtor and among the first three things to ask like "you have any clients who need a house???" or "what kind of houses do you have listed???" automatically allows them to trust me and tell me as opposed to have to explain what I do and how I can benefit them.

To each their own, but if I had to do all over again, i'd get my license

I drive around, walk around, look around and ask around

I may see a house that is or looks abandoned, in disarray, unkept

I'll write down house # and research

I've established great relationships over the years and am constantly in contact w RE pro's who let me know when they have a listing, know someone looking to sell or buy, in trouble, who may need a second opinion

I'm out all the time so I tend to meet people who are or know someone with a matter related to RE.

Sometimes, they just fall into my lap

Thats what I like about this site; it offers different views and opinions on all things and allows people a choice instead certain practices being forced down your throat

Like i've said before, I am always willing to listen to someone who may have a different way of doing things and I hope feel the same

I don't know everything and don't profess to. Always willing to lend a helping hand

Elix, thanks for starting your "anti-journal" journal. lol.
I have you bookmarked. You have something I want. More knowledge.

Barbara

I'm going to go get my RE license ASAP after reading your post! I took broker courses a few years ago, so I'm stale and will need to catch up. Gotta add it to my to do list on the left side for now. Love your candor and practical advice, always! And that you tell it just like it is! Look forward to keeping up with your journal!

I have a lot to learn about financing. That is what I'm currently researching and why I've been a little silent on the boards herelately. Any advice and info you can add will add to the learning for all of us! Thanks for being on the board!

I have no problem giving advice or lending a hand

I only tell what works best for me and others I know

I think the best way to tell something is straight and to the point; if it needs an in-depth explanation, give it. If not keep it simple and sweet.

Saturday was the first hot day of the year so I was on non-RE mode

Took my son to the park and a BBQ and he had a great time......I think. He's 4 months old.

However, as much as I didn't plan on being involved in RE, I was.

The organizers of a street fair I went to were looking for a new office

A health food restaurant I normally attend is looking for another spot

I went to a Mayweather fight party and a guy who works at Sony records mentioned he's looking to sell his house in Westchester County and is looking to move back to NYC

Today, after making a Wolfgang Puck-like breakfast for my headed to my trusty cigar bar to watch some NBA games

isn't it funny how sometimes when you are not looking for anything to do with RE, it comes right at you. sounds like some great leads!

the individual who I met at the Mayweather fight party that is looking to sell his house and buy is inviting me to a midnight screening of 'Iron Man 2'

I feel like a kid in a candy store.

I'll also be seeing his place on saturday to assess how much we market it to sell for

Headed out to pick up my son, watch our normal 'Law & Order' episodes, bathe and feed him, and its 'hustle time' tonight at a wine tasting event

Elix,

Thank you so much,I have been on the site many times just reading but God sent me to read what you were saying because I asked him to give a sign if I should try for my license again. I read your post and the answer was right there. I have been debating this for a while. I went to Keller Williams Realtor to speak with them and I was excited but when I just read your post that was my confirmation, I,m going to schedule my test right now and start studying tonight, Thank you so much for this post and your honesty and being the inspiration that I needed. Today is the first day of my new life.

Thank you,
Helena

I was reading the many posts you have around the site in threads I follow, and had to come and find your, well, 'anti' journal Love it. I can tell you will be a great mentor to many here with your loads of knowledge and willingness to share it. In one post I read you were working on props in Missouri. I have family there and have been wanting to expand into that market. Perhaps if you have time you can send me a PM with more information about the deals you have to offer there. I look forward to reading your continued posts here!

you will do it! if i can, anyone can. while i was taking my classes and studying like crazy, my mom was dying and died in the middle of it all, my doctor told me my brain is not working right because of thyroid issues and my son was about to graduate from bomb squad school for the Army. i passed the class and my tests the first time. like i said, if i can do it, anybody can. you will do great! just trust God to help you.

laurajohnson wrote:

I was reading the many posts you have around the site in threads I follow, and had to come and find your, well, 'anti' journal Love it. I can tell you will be a great mentor to many here with your loads of knowledge and willingness to share it. In one post I read you were working on props in Missouri. I have family there and have been wanting to expand into that market. Perhaps if you have time you can send me a PM with more information about the deals you have to offer there. I look forward to reading your continued posts here!

I'm not really the mentory(is that a word???) type but I can always do what I can to help anyone out thats trying to make money.

I'm a talker( shocked huh???) so I like to help people with their presentations on how to pitch the idea of buying or selling a house. When they say first impressions...when it concerns RE that is so true.

I'm suffering from a serious lack of REM sleep today as I went to political fundraiser and a wine tasting event and this morning driving home I found out the hard way that wine, Quizno's sammie sandwiches and jelly donuts do not mix. Please excuse my lack of usual zeal today

I'm here when you need me. After 'Law & Order' of course

Dong Dong

My son was in a cranky mood yesterday but I got a call from some people at the fundraiser I went to asking if I wanted to go to an NBA viewing party.

I declined. The batteries needed charging so I just followed up on some phone calls until,...I got a callback from the people I met at Costco's last week who were looking to sell their house. A normally 15 minute convo turned into 3 hours + so today i'll looking at the house to see what I can do

Spoke with some of my fellow DG'ers today who all I believe will be very successful in this crazy profession

They all have the foundation down pat and with the many different methods at everyones disposal, checks should be flowing through

Will be staying away from wine, Quiznos and jelly donuts for the next 2-3 weeks for what I went through the other day

For a person who generally lives on 2-4 hours of sleep a day, I am beat down

Went to see Iron Man 2 last night and loved it. Thought it was worlds better than the first

After getting home and eating and showering put my head down at 3:15am and then,....BUZZBUZZBUZZBUZZBUZZBUZZ, the alarm to wake up and feed my son goes off at 5am. I felt like I never slept; eyes redder than blood, couldn't go back to sleep at all, on my third cup of my favorite dominican coffee, and am working until I just drop into a coma-like sleep

please take care of yourself.

Ok elix, Don here, you need to take care of yourself for you and your son. And also for the business we are trying to conduct. So take at least one day, even if it is a half day, out of the week for yourself. Blessings to you and yours.

to all the mothers here on DG

I sincere wish you all the best and hope you all get the attention and love you truly deserve

So I wake up at 5am to feed my son(morning person), then down to the living room for a session of P90X. I highly recommend this; it's a living hell of a workout but its gets rid of all stresses and makes you feel and look better.

This is not secretly Tony Horton.

Got done, showered woofed down some hard boiled eggs, and headed out for some canvassing at 7am. If you have the time to search for properties, go as early as possible.

Got home at 11am and just relaxing, until my wife mentioned that since its Mothers Day Weekend, she'd like it if I cleaned the house.

Just got done

just basketball, golf and karate flicks

My wife and son weren't well so they rested all day

Phone rang wuite a few times for biz but either ignored or told them to call me tomorrow(monday). Wasn't the greatest weather, so was no loss just staying in but at 7:13am this morning the cells are a buzzing.

Have 5 first time homebuyers who I have to get to the closing table by end of month and 7 investors who I must make sure are happy(a few a little extra, but thats ok)

To my DGer's who called over the weekend, we will speak this week for sure

just talked to your guy and he is sending over some properties to my email. sounds like a nice guy; my cell phone was not connecting too well with his. i'm a little discouraged with having my realtor's license and thought you might be able to "cheer" me up a bit. in March i paid for a 2-year license, but now they tell me i have to pay again in June because April was the cut-off. i'm not even going to go into how bad my classes were. i also found out that my broker gets a cut of everything i do, even investment deals such as assignments, etc. i'm going to talk to my broker tomorrow and see how i need to do all this. just really not happy with all this and didn't know all the ramifications before i got my license. would appreciate any input you have on this. thanks! hope your wife and son are doing better today.

Yes, your RE broker aka Pimp Daddy or Mommy does get a cut of anything RE related you do in your STATE. Anything out of state is all on you. But the flip to these things is the responsibility is on him/her and not you; if something messes up or they realize your deal is not a good one or could be illegal, they are the buffer you can always have

Work with a broker that allows you to grow; if you feel one is not allowing you to try and make you both lots of money or not willing to think outside the box,......BOUNCE!!!! You have no legal obligation to stick around. Remember this is YOUR license not there's, so if a certain firm doesn't fit you, move on.

Give it two months. I guarantee that you will be happy having your license and in your conversations, take notice on how when you discuss RE how people react to you and how positive they react to you and if you use it correctly, doors will open for you.

You made the right choice and my wife and son are much better thanks for asking.

is a great dude

the properties he's going to send to you, use those to show your broker you're the real deal, get clients, get some checks and then work your situation to your best interests.

Few things:

1. You're an agent 24 hours: Even in social settings, somehow, someway, integrate that you're an agent into your conversations; don't be surprised on how you get phone calls like "hi, I was referred to you by ^%$#. She told me you're an agent and I have a house/know someone who has a house to sell/interesting in buying...."

2. Always have business cards: If you're broker hasn't had cards made for you, make your own even if its temporary. Nothing worse than a real estate agent with no business cards. Not a good first impression.

3. Keep your contacts as your contacts. By law as long as you're with your present broker, they are his contacts because he writes the check to your broker who then writes the check to you, but always let them know if you leave, you want to continue doing business with them and not with your broker. NEVER just hand over your contacts to your broker; it should be your voice they know of and it shouldn't matter what firm you work for, because you are the person that is making them money.

4. Your ID card. Always have it handy. Laminate it to protect it and keep it longer but always have it on-hand. Several times i've had to show my card and the smirk you'll give when you do to shut people up is priceless

5. You'll reap the benefits. Speaking with other agents and mortgage brokers and bankers, once they know you're licensed and you have a good connection, watch how soon they call you to tell you about a client they have that needs an agent to find them a house, or when that client refers you to their friend or church member, frat or sorority, etc, etc. Use it to your advantage

You're going to do great

So I met a possible client from a referral and this woman think she knows more than me

A small snippet of our convo

Me: So what kind of house do you want???
Her: I want a house just like Marion's

Ok have you been pre-qualified???
No but i'm telling you I can afford it

Ok, but you still need to be qualified before I can show you
Well I heard you don't have to and I don't want my score going down anymore

And then later....

Me: Well, depending on your loan you may be able to put down as little as 3.5% or as much as 20% depending on factors
Her: Well I heard I can put no money down

No those days are long gone. You have to put down something
Well I heard that you don't. That they have these programs that...

Meeting ended on a good note as we went to get coffee and the convo went personal and mellowed out afterwards. Ended the evening saying this to her:

"Evelyn, I hope we didn't get off on the wrong foot. My intentions are to work for you and get you the home you want, but at the same time, i've been doing this a long time and need you to trust me. Or at least listen to my ideas first before you knock them. At the end of the day, its completely about what you want, but for me, its about the numbers and I need to make sure the numbers work.

How about this weekend we go out again but I need a pre-qual. Theres no bending on that I need to know exactly how much you qualify for."

Problem solved

i appreciate all your input. excellent information.