Ok, It's Settled. Real Estate Is The Fastest Path To Wealth

Quite often to their own friends or favored clients :joy: That agent is too blatant and can be sued.

You knew the rules of the game :slight_smile:

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Ok, something is not right. I asked two agents at two listings here in the Fab 7x7 about this (one tonight at a twilight opening by my house) and both said they would not do double dipping. They instructed me to go get a buyer’s agent. They did say some other areas might be different. They were very established agents with many years of experience and frankly they had multiple listings so I don’t believe they had any reason to lie to me. So, are you saying they were actually lying to me or that you just happen to have found some agents who were less than totally ethical???

They are all ethical. Of course, you use a buyer’s agent.

They can be blatantly double dipping. Nothing wrong with that. Others will be more ethical in that they would refer you to another agent (usually their friend or pupil under the same agency), which is almost the same as doing it their own. Still others can care less and tell you to go find someone on your own. Those are the ones who are hardest to deal with. If you are a buyer and run into someone like that, you are out of luck.

The only thing sleazer than agents are sellers…The sellers drive the deal…So if you think something wasn’t fair, blame the seller…In this market they have all the chips…I lost a deal last year in Tahoe was $10k over all cash…The seller used my bid to bring up the other offer but still sold for less. .My partner botched it…Said he had a good relationship with the the listing agent…I decided to go alone on another deal and closed it…

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This is what happened to me in this too, seller drove it that no one here understand it!

Common tricks, always thought is agent proposal. Sellers are usually green and won’t think of such tactics.

Funny thing is I met the buyer…From Fresno…I was a much better candidate. …I even met the seller after the deal closed…He said he sold because he was bored with the 6plex…Stupid reason to sell, since it was professionally managed…Sellers can be as irrational as buyers…I think he just felt he should go for the first offer, even though it ended costing him 20 grand…Early bird gets the worm…Bid early and often…My perspective partner found the deal, so I felt obligated to let him write the offer…If I had driven the the deal I might have done better…Presentation is important. .A lost art in the internet age…But since that deal has closed I now have a relationship with the listing agent…She gets lots of deals…Probably have to do some ass kissing on the next one…

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What is the use of such tricks for one who is not in the race any more? On any case, I will pay off one which has highest rate 4.25% and realize 5% cap rate, tax free income for life !

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Wait a minute. Is that the one who negotiates like Trump? :smile:

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No…He is my attorney in town…He is a great attorney but not a good realtor…even though he is a licensed broker…

Many immigrants implant themselves into the U.S. by buying real estate. Leeshan Birney went further, developing a business that now owns 2,500 apartment units and over 1 million square feet of office and commercial space in northern New Jersey and the Houston area.

At age 24, despite her parents’ misgivings, she moved from her native Taiwan to the U.S. in 1963 to study. One motive was to avoid being pressured by her parents into an early marriage. She earned a master’s degree in nutrition from Columbia University and an M.B.A. from New York University. She married a Coloradan, James Birney, who made a career on Wall Street, and they had three children.

She bought her first investment property, an 18-unit apartment building in South Orange, N.J., in 1981, and taught herself to be a landlord. She asked hardware store employees to tell her how to fix leaky faucets and toilets. When a repairman had to be called, “I would follow into the basement to see what he did,” she told the New York Times in 2005. Sometimes, all it took was pushing a button. “The next time,” she said, “I knew how to push a button.”

Ms. Birney died Oct. 27 at a hospital in Houston. She was 78 and had liver cancer.

“All my life, I was full of dreams, but I was also open to unexpected possibilities,” she said in an interview published earlier this year.

Chuang Leeshan was born March 24, 1939, in Tainan, Taiwan. Her parents were distributors of building materials and hardware. She was an eager student and excelled at math—partly, she said, because her grade school math teacher would rap her knuckles with a stick if she failed to meet his expectations.

She arrived in the U.S. with just $200. One early discovery was that the English she had learned at home was inadequate. She had to persuade new friends to speak more slowly, and they struggled to understand her heavily accented English.

She signed up for what she thought was a basic-English course. It turned out to be an advanced course in public speaking. One of her classmates was Mr. Birney, her future husband. She noted that he was tall and athletic and had the habit of “relaxing back and tossing his feet up on the table,” as she put it later.

Their first date was at a Chinese restaurant. They married despite the protests of Mr. Birney’s parents, who feared marrying a foreigner would hurt his career. (They later embraced her.) Though they were so poor that the groom had to borrow $1,000 for wedding costs, Ms. Birney cold-called the New York Times and persuaded an editor there to include a story about her marriage on the society page.

She spent a decade as a stay-at-home mom and paid her children a penny a page to read books and write reports on them.

One of her early property investments was a 133-unit apartment building in Short Hills, N.J., chosen partly because it was near a school attended by her youngest daughter. She also bought apartment buildings in Hoboken, N.J., with burst water pipes. In 1986, Mr. Birney resigned from his job as a partner at the investment banking firm Furman Selz and joined the family real-estate company.

Starting in 1989, taking advantage of an economic slump, the Birneys began investing in Houston property while keeping their buildings in New Jersey. Houston proved a lucrative market and gave Ms. Birney the chance to become a leader in the Asian-American community.

The Birneys’ son, Ceyan Birney, now manages the company with his father. Their daughter Shanlenn Birney Colby works for Microsoft Corp. in Beijing. Another daughter, Mayling Birney, who was an associate professor of political science at the London School of Economics and Political Science, died in September, apparently of a heart ailment.

Leeshan Birney was active in the International Leadership Foundation, a nonprofit that provides educational programs and scholarships to encourage Americans of Asian and Pacific descent to become leaders in public affairs, business and international relations. Outside some of her apartment buildings she put up international flags to denote the home countries of residents.

Well into her 70s, she had no plans for retirement and wanted to keep expanding her family’s real-estate company, Stone Mountain Properties. “I still need to improve,” she said in a video interview. “That’s the bottom line.”

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