The Journey of Travis Derod

Let me be the first to say congratulations on getting started on your journal. I've found with mine that writing out my day's activities has actually shown me how much forward I had moved even if I hadn't gotten any results yet from my efforts. You get some clarity.

I've already bookmarked this so I'll be reading. Keep up the good work.

Keep moving forward!

Andy Sager
DG's AndyS

Thank you. I'm going all out!

Today I will be on the hunt for a investor friendly title company. If any investors in the DG family is from Charleston, SC and/or know of a title company that I can use please PM me.

No excuses, none at all. I already have my day mapped out and I am about to listen to Napoleon Hill's "Think & Grow Rich" audiobook. I also listen to Earl Nightingale's "The Strangest Secret" (30min recipe) before going to sleep and after waking up.

Earl Nightingale's "The Strangest Secret" (30min recipe)
http://youtu.be/1Y5g2Pe08uc

I have to remind myself not to go into IOL (information over load). Action is the best teacher.

To be continue...

Thank you. I think I have that whole audio-book. I also have "The Secret" by Rhonda Bryne, the audio-book and the film. It's about the law of attraction too. I just completed my vision board a few days ago.

you can contact a TF(transactional funding co) and they will give you investor friendly title co list in your area

Thanks Mike. I think that I was over thinking. I guess I don't need to find a title company since I won't be going to closing. Or should I?

I'll be waitin to read about your deals Good luck!

RENinja

It never hurts to have a good title company in your network anyway. They know all of the buyers too. Just build your network in all things real estate. Keep it up, looking forward to following your progress!

Thanks everyone. James I will keep that in mind.

Well, today is Friday, my attorney hasn't call me back yet from reviewing my agreements. Guess I'll give her a call this evening. I have one appointment today with a motivated seller, I'll be letting her know the process it'll take for me to get her home sold ASAP I'm pretty sure she'll be ready because she's very motivated. Maybe I can have this thing assigned before next week is over with. Well, it's time to go. I'm just loving this fantastic Friday and blasting The Black Eye Peas "I Gotta Feeling", cause I do. Lol... Oh well, until next time.

To be continued...

Well, I was out and about today getting some marketing materials and a guy came up to me and ask what am I doing with this yellow corrugated plastic. So, I kindly let him know what kind of mission I was on with the yellow corrugated plastic.

So, he said hey I have something I want to talk to you about before you leave and he told me to come into his office. This guy is very wealthy. He sat me down and showed me his formula for how he purchases his investment properties, he broke it all the way down just so I'll know exactly what he wants.

Long story short he gave me his home and cell number and told me to contact him as soon as I get some properties locked up. This is another CASH buyer I added to my list today and he can close very quick. Maybe he will buy all of the properties that I tie up because he does have a nice size portfolio.

If you are investing in the Charleston, SC area as a wholesaler, land lord or just looking to network, then please PM me and let's exchange numbers. We might can help each other out.

To be continue...

That's what Greg Murphy preaches, tell everyone what you are doing! TALK, TALK, TALK about real estate. You never know where your next big buyer will come from!

Keep up the great work!

Yes indeed. It's a huge piece to the puzzle!

Just got off the phone with my attorney. She's talking about the South Carolina state law says that assignment of contracts are illegal and we are acting like Real Estate Agents. I don't think she understand. On the hunt for a knowledgeable attorney that knows about real estate assignments. Hey DG family, are there any investors on this site in South Carolina that know something that I don't please hit me up.

It's pretty bad when you have to explain that you are not selling the house, just the contract. Keep looking, you'll find the right one!

I spoke with 2 attorneys and I told them that I would be selling the contract and they both told me that that is like acting as a realtor. The 2nd one I spoke with told me that I would have to get the deed in my name and then transfer it to my end-buyer other wise I am acting like a broker/realtor. It really doesn't make since because if I am doing a "subject-to" the existing mortgage, my name or the end-buyers name won't be on a deed, I tol him that too.

I don't think they understand wholesalers and assignments. Am I missing something here?

I've been doing some thinking about my bandit signs. We're suppose to hang them up on Friday evening and take them down on Sunday. But, how am I going to take down a bandit sign that will be put a few feet. Guess I'll leave them there. Oh well...

To be continue...

Sigh...
I have never heard of a realtor selling a contract. Have you ever seen that Travis? Buy this contract from (blank) Realty today! I think this misinformation exists to keep new investors out of the re game. I can't Stand IT! Find another attorney. If they are going to fight you, you're gonna have trouble.

You're right about that. I'm making calls right now hunting for one that would fit me.

It's easy to say "Find another attorney" but if you have a lot of attorneys in your area, that could be a lot of calls. Stop messing around and contact your local REIA club or member of the club and ask them which RE attorney they use or recommend. That's the one who will understand what you are trying to do. (Remember, the shortest distance between two points is a straight line.)

FYI: If you can't find an RE attorney, you may want to find one familiar with Contract Law to better explain your options. When you are assigning, you are not selling the real estate! You are selling your rights to a contract between you and another party for a fee. That's the part that confuses everybody.

Press on my friend

Andy Sager
DG's AndyS

1. contact TF, ask for REI friendly title co in your area

2. contact REI friendly title co, ask for REI attorneys involved in back to back and assignments

3. DONE!!!!!!!!!!!

Just got off the phone with my attorney and he was the 3rd that I spoke with. He said that WHOLESALING is illegal, you need a license to do assignments and the Nation Association of Realtors will be cracking down on it soon. He said the only legal way to do this is to do a double closing. Deed from SELLER to ME and then deed it from ME to the END BUYER. He also said that he will send me some paperwork on all of this. I will have it by next week for everyone to see.

Get a new attorney. You are NOT selling real estate. Wholesaling is not illegal. Doing a double closing IS wholesaling. You are talking about assigning a contract.(one of the many ways to wholesale properties) You do not represent the seller, you do not represent the buyer.(this is where rookies get in trouble) You can assign a contract on a dead dog if the contract is assignable. MAYBE NOT IN YOUR STATE. I don't know the laws there. There is certainly nothing nationwide that says contract assignment is illegal. I do them ALL the time. My assignment fee shows on the HUD1!!

Now there are issues of seasoning on some REOs and short sales. NAR has NO legal jurisdiction over me. They have no idea when I do a contract assignment directly with a distressed homeowner with out using an agent.
The FHA just stated that selling a property within 90 days of purchase for a profit is still OK. Good till Dec. 31 2012 when they will most likely extend again.

Travis, did you talk to an attorney that the local REI club members referred you to like Andy suggested? Get a mentor, you will save so much time and frustration. There must be several where you are that would be willing to work with you.

Are you finding killer deals? If not all this stuff you are worrying about is a waste of time. If you have real deals ready to wholesale get them under contract and assign, double close, sell the LLC or trust to your cash buyers.
You have buyers worth millions right? Get with it!!!

Michael Mangham
MD Home Acquisitions LLC

Some people just don't understand what we all are trying to do. Some people are just so set in their ways that they don't want to learn what we do. Some people won't make money by us doing what we do so they are against it. They don't and won't ever get it!!

Let me tell you about a conversation I had with an old friend who owns rental property in FL. A while back, when I first really started to "get with the program", I tried to get this friend on board and partner with me. He spoke with his RE Agent buddy about it and was told that I was doing something illegal. I checked it out from many angels and asked a number of professionals doing investing about it and was told that I was safe. My friend and I spoke again about 2 weeks ago and I explained to him about the difference between assigning a contract and selling real estate. He brought up all kinds of issues saying FARBAR rules are such... and my agent said.... and I told him flat out "YOU ARE WRONG!!!" I explained that what he told me before scared me to the point that I froze until I checked it out with my attorneys and other investors and got the green light. We had this conversation at dinner and sat in the restaurant for over 3 hours before he finally understood that we are dealing with Contractual law and not Real Estate law. I could finally make my 3 1/2 hour trip back home.
Yesterday, I was back in Miami and stopped in to see my friend and asked him what his RE buddy said about what we had discussed at the restaurant. He said that the buddy was saying that I'm circumventing the law or manipulating the law and that when things get better, new rules will be in place, bla, bla, bla.... The bottom line, as I told him, was that I was not breaking any laws and he needs to find new people to listen to.
Like Michael said, find another attorney. Stop stumbling over your own feet. I gave you the short cut, use it. As I said to someone the other day" You have the car, you have the keys to the car. It's up to you to turn on the ignition." Success is just around the corner. Wouldn't it be nice if you didn't have to look around EVERY corner?
I look forward to reading your next journal entry that says " I spoke with my NEW real estate attorney and he told me..."

Happy new year buddy!

Andy Sager
DG's AndyS

Thanks for the advice Michael and Happy New Years to you and your family! I've talked with my buyer that has millions and he doesn't have any experience doing wholesaling. He just buy houses out right and he said that he doesn't use realtors at all for anything. He already gave me info on how he buys, where, price of the property, year, area and some other info. I just wanted to speak with a attorney so that they can look over my paperwork. But, really I don't even have any cash for a attorney to do so. But, I'll figure something out.

Thanks for the advice Andy and Happy New Years. I'm working on a budget and trying to get things done. The 3 different attorneys that I spoke with were in my budget and they said they had some real estate experience but, not with investors, more on the realtor side. I was thinking maybe I could point them to a real estate wholesaling article so they can get a understanding of it. I explain to them exactly what wholesaling is and how I will be doing the transaction. I'll figure something out though. Everybody isn't in the same boat and can't do the same things. I will figure this out and make a way.

Here's a thought:
A number of attorneys offer a new client a free initial consultation. Maybe you can use this time to have them look over your paperwork.
Also, as a member of REIA club, if they attend, they may be willing to check it out at a meeting.

Just a couple of ideas to consider. Bottom line, If you have legal questions, you HAVE to go to the legal answers or the person(s) who have the legal answers. It beats the alternatives.

Hope this helps...

Andy Sager
DG's AndyS