Must See Blog Posts: Safe Act, Passive Income, Wacky Calls and more…

Scott Costello All, Blog 10 Comments

From time to time I like to share what I’ve been reading.  I will admit that I usually put out these types of posts when I am having a case of writers block and can’t think of anything related to what I’m doing.  In any event, these kinds of posts give me a good opportunity to introduce you to new bloggers out there.  Hope you enjoy the below blog posts and if you want to share any feel free to leave a comment..

 

Is the SAFE ACT an Urban Legend?

Sharon left a comment on my previous post about creative offers referring to the SAVE act and how it would affect owner financing.  Over the past few days I’ve been doing some reading about the act and I must say I’m still very confused as to how it really works.  The post I linked to above just talks about the act and where we stand in 2011 with it.

 

Quest for Passive Income (Episode 3): Getting Started With Affiliate Marketing with Bill Lassiter

I’ve always been a huge fan of Shae Bynes, so when she brings in people for interviews I pay attention to those people.  Bill Lassiter is definitely one of those people you want to learn from if you are in the same situation as he and I.  Like myself he works a full time IT job, is wholesaling properties and really ramping up his affiliate marketing efforts.  This is a very interesting podcast.

 

Wacky Seller Phone Call

I have not had a call exactly like this one yet, but there are people who just don’t want to give you any information.  Carey handled this call very well as I would have started getting very sarcastic with this lady pretty quickly.   How does $1 sound??

 

The Butterfly Effect of Inertia

While Maren Kate doesn’t talk about real estate investing, many of her post about making it in business can directly applied to the way we attack investing.  I’m a big fan of her and her blog and I think you should be as well.  read one of her most recent posts and you’ll most likely agree.

 

How to Build Rapport with Sellers Quickly

This post deals with an important part of talking with sellers.  Rapport and Trust are pretty much interchangeable when dealing with sellers.  It will cause them to remember you and recommend you as well.  If you get a chance, take a few moments and watch the video Dave and Julie posted over at their blog.

Have you read any great blog posts from other blogs recently?  

 

 

 

 

 

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Scott Costello

Scott is a part time wholesaler, but full time real estate investing addict! As his family grows and his free time shrinks,He has been slowing building his wholesaling business over the past 7 years in between life events.Drive, dedication and never giving up are his strengths.
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Comments 10

  1. Hey Scott –
    Thanks for sharing our post!! Glad you enjoyed the video.
    The wacky seller call was a pretty funny one!! We have had SO many funny calls but one of our friends here in Canada had the ultimate situation a few weeks ago. He was up at 6:30am feeding his new baby and looked out his window. A guy was standing there … he went out and it was a guy he’d sent a letter to. The guy had tracked him down (he didn’t put his home address on the letters but he used his real name) and came to speak with him!! YOWSER!!!

    Writers block can lead to good things – thanks for sharing these great posts!!
    Julie

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      Thanks Julie, It’s a work in progress. I finally just bit the bullet and changed the design on the fly because I was never able to free up enough time to work it behind the scenes.

  2. Hey Scott,

    Thanks for sharing my post buddy! I appreciate it. Man, I sooo wish I would have thought of the $1 offer at the time. I think I was just too annoyed at the moment. But after I hung up, I thought of all kinds of cool things to say lol

    Oh well…..I will save them for my NEXT wacky seller call 🙂

    I like your new look a lot too! Looking good, looking good. Oh and I haven’t gotten a chance to call your friend yet, I’ve had a lot going on lately. But I NEED to call him. As a matter of fact, I’m going to add him to my daily task list 🙂

    Thanks for asking.

    Keep up the great work!

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      I’m not the quickest person when it comes to responses either. I always think of the good ones well after I’ve hung up the phone, i’m like George Costanza on Sienfeld….”Yeah, well, the jerk store called, they’re running out of you! ..”

  3. Hey Scott – I left Carey a message. I had a similar call about a year ago. She wanted to meet me at the Dairy Queen near her, and then I could follow here to the house. Nope she wasn’t giving up the address.

    Also, about the SAFE Act. That whole thing is so confusing. I just know that the closing attorneys in my area will not do a seller financed closing unless it meets the SAFE Act guidelines. They thought they had found a way around it using land trusts, and then there was problem. An investor had to foreclose on his owner financed house that was purchased in a land trust. The court told him as an investor he understood the “intent” of the law, and it was illegal to seller finance the house; he had indeed broken the law. I don’t know what the final outcome was, but I will pass it on if I ever find out.

    I knew investors that did owner financing before it was outlawed. The would do their negotiation with the seller, but would generally pay more for the house than with a cash sale. Then after a couple of years, they would offer to cash out the seller for much less. Most of the time the seller took the new deal. That’s how they were doing it in my area.

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      Very interesting info about the SAFE Act Sharon. I’ll have to talk to my closing attorney to see what his opinions are on the matter, in any event it sucks to know there is one less tool in the shed to play with.

      I never thought about the scenario you laid out about renegotiating with the seller a few years down the road. There is an underhanded tone to that strategy for sure. I wonder if you could structure it as a lease-to-own to get around the Act? Probably not though since it doesn’t remove the liability of the seller at all.

  4. Hello my friend!,

    I saw the very kind words you had about me and my Internet Marketing site; thanks so much!
    I’ve always enjoyed your blog and seeing your persistence. That’s exactly one thing we have in common. Real estate investing and Internet Marketing, we can succeed in both. Keep grinding!

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      Thanks for stopping by and commenting Bill. One of the best parts of writing my blog is hearing from people who read it. It really helps keep me going that is for sure. I look forward to getting to know you better and sharing ideas about REI and IM.

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