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Snakes, Landmines and Grass fires

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Prepare for the Unknown – SGL016

Welcome to the Poodle Ranch. These podcast episodes talk about Snakes, Landmines and Grass Fires that I have experienced in my real estate career. After 28 years experience, I have personally toured thousands of properties to make a determination of true value and have over 500 transactions. I frequently say that … I have seen everything and every day I see a different color snake. Recently a prospective client “Robert” came to my office to discuss his real estate objectives. He wanted me to...


We Reveal the Not Obvious SLG024

What does that mean? What is Not Obvious? If we knew, then it would be obvious. We know it when we see it. With only 5 or 10 real estate transaction, you are less likely to see the snakes, landmines and grassfires. You do not know where snakes are likely to hide. In the last 25 years the world has become more complicated. Government and large institutions have more laws, rules, regulations and policies which change frequently when personnel change the rules and policies or when clerks do not...


I Don’t Know – SLG023

I have been struggling for several years to understand how to tell prospective clients that they need me. Most prospective clients know what they know and usually do not want to know more (except how much is it worth?) They do not know …. what they do not know. That requires humility and requires that we know our strengths and limits. Do you listen to your doctor and lawyer and accountant? WHY? Probably because they have years of experience, not because they are smarter than you. It is fair...


AirBnB Disruption – SLG022

Disruption of Bed and Breakfast and hotels I have been to AirBnB meetups each month to learn more about what is happening. There is an entire industry and supporting ancillary services. Some home owners offer the extra room in their home. There are hundreds of homes and apartments which are booked for short term hospitality to a variety of guests which have different reasons. Some guests want privacy. Other guests may want their family or group to be in one residence behind one door. They...


How to Find a Good Deal – SLG021

To find a property and add value, look for properties which need repair or which do not offer features which are now popular. You can add Covered parking Additional storage Make it pet friendly, such as covered dog runs. Make it gated and locked or add fencing Resize windows to add light Add accent lighting behind ceiling crown molding Add sky lights. Install wi-fi door locks Add outside lockboxes for deliveries Add outdoor wi-fi internet real time video There are many features to add value...


Should I use a Real Estate Wholesaler ? SGL020

Should I buy real estate from a wholesaler Should sellers work with a real estate wholesaler? Wholesaling real estate is the practice of acquiring properties at discounted prices and reselling them for profit. A real estate wholesaler enters a contract with a property seller, markets it to potential buyers, and assigns the contract to the most appropriate buyer On the internet I found the 15 reasons to be a real estate wholesaler. 1. Fast Entry (Great For The Beginner) 2. Simple To Learn 3....


Internet Buyers to stop pain ? SLG019

I recently had a seller client phone to say she had received a solicition from an iBuyer (internet Buyer) that wanted to bid on her house. I contacted the iBuyer and they decided not to make an offer. The reason was inane and innocuous. I am guessing the seller asking price was to high. iBuyers advertise nationally to buy your house quick. The main iBuyers are Offerpad OpenDoor Knock Zillow Instant Offers Redfin Now I am told they buy 10% of the homes sold. That seems like millions of homes...


Contingency or Non-contingency SLG018

What is Contingency? Which is better Contingency or Non-Contingency real estate commission? How can real estate buyers get a rebate on their next transaction? How can Sellers get reduced sales commissions? Contingency is defined as - Dependence on chance or on the fulfillment of a condition; uncertainty; fortuitousness: . A contingent event is a chance, accident, or possibility conditional on something uncertain: Let me help us discuss this in context. In 1994 I was licensed as a real estate...


Single Family Homes vs Commercial Contracts – SLG017

We did a podcast about each paragraph about the Commercial Texas Promulgated contract. So why did we not discuss the 1 to 4 family contract? Because the commercial and residential contracts have similar features except the commercial is several pages longer and has more complicated wrinkles. For my friends that want to sell residential homes, I do not want to appear disinterested or unqualified. I spent over 12 years selling single family homes and now I only help friends or absentee...


Real Estate Financial Analysis App – To Determine Value – SGL015

We talk about the purpose and use of my web application to determine value of an income producing property. You can use it on a desktop computer or your mobile phone. For use you determine value for buying or selling. Also use as evidence at property tax protest hearing. Click here to get app


Value of a Broker – Real Estate Snakes, Landmines and Grass Fires – SGL002

Does a real estate broker add value to a transaction? How many people are involved in a transaction? How much is your real estate worth? We reveal the Not Obvious. There are often unusually or unexpected problems. What are the underlying main issues? You should ask revealing questions and find the true answers. Who, What, Where, When and How ?? We know what to do and we enjoy helping people. Listen to our discussion about real estate. Win a Laser Measure Ruler The DEWALT DW055E is ideal for...


Can you get the money? – Commercial Financing Addendum SLG 0014

If you can not get a loan, don't make an offer. Gosh I am cold. Here is a discussion with the Queen of the Poodle Ranch. We discuss the Commercial Financing Addendum of the Texas Promulgated Real Estate Contracts. It stipulates the criteria and terms, which might dictates if buyer gets return of the earnest money due to the financing terms. The other parts discuss issues regarding institutional third party loans, Assumable loans Seller financing. It also stipulates issues regarding credit...


The End of the Commercial Contract – SGL 0013

In this podcast, we discuss paragraphs 16 through 26 of the promulgated commercial contract for properties with improvements (buildings, not just vacant land). We discuss when the clock starts for duties, disclosure, (or not), condemnation and acts of God, and also the drop dead date (the contract, not people). This makes the contract sound biblical. Previous podcast episodes have discussed up through paragraph 15. It would be a good idea for you to listen to those beginning episodes. What...


How to Prevent Real Estate Snakes – SGL 0012

What is new at the Poodle Ranch? In past episodes, we discussed through paragraph 11 of the Commercial Purchase contract This episode discusses Paragraphs 12 through 15. How to stop Snakes -SGL 0012 What is new at the Poodle Ranch? Recently we discussed through paragraph 11 of the Commercial Purchase contract Paragraph 12 to gives buyer and seller a space to provide for special specific concerns. As a Senior Property Tax Consultant, I know that the County Appraisal District subscribes to the...


More Commercial Contract Snakes – SGL 0011

Large snake pits herein. There is language which we can use when negotiating the contract to avoid problems after the option feasibility period of the contract. Last week we discussed Paragraphs 4,5 and 6 of the commercial contract. Again I reiterate that the 1 to 4 family residential contract is similar to the commercial contract, except the commercial contract has more pages, because there are more snakes. Paragraph 7 Property Condition Para 7 A states the repairs that the seller will do...


Stop Real Estate Abuse – SGL 0010

Last several weeks episodes we discussed the commercial real estate contract paragraphs 1 through 3. Today we discuss paragraphs 4 though 6 which concern Third Party Financing, Loan assumptions, and Seller financing. Additionally we discuss Earnest Money and the Universal Commercial Code searches. What should buyers and sellers watch for? Be sure to subscribe to our eye-opening newsletter in the box on this page. Last episode we discussed the first page of the Texas Association of Realtors...


Stop Grief and Do It Right – SLG 009

The contract to purchase a commercial property is similar to the contract to purchase a 1 - 4 family residential property, however commercial properties are more apt to be irregular with more snakes, landmines and grass fires. The commercial contract is several more paragraphs and pages. We discuss page one with the first 3 paragraphs. Although the form is fill in the blank, there are challenges which depend on the uniqueness of he property. We need to be concerned with the circumstances of...


Vacant Unhealthy Ghost House – SLG 008

Our neighborhood division has 25 homes and each has approx 1 ½ acres of land. We own our sewer system and own the horseshoe road. We each have a water well. We live two blocks north of the Addick Dam Reservoir and several block from Bear Creek Park and two blocks north of the County courthouse on Clay Road. We are in the Katy School District but east Katy City limits. Not only will we talk about snakes, landmines and grass fires, well will also talk about raccoons and rats. Vacant homes are...


A polluted property and he threatened me – SLG 007

6 years ago, I helped the owner of a large automobile repair shop to sell his 9 bay building on one acre of land, including equipment and inventory. There are not many people who want to buy an auto repair business. My advertising found a gentleman with repair experience and money for a down payment. We got help fronm Dennis David, and SBA loan expert. We wrote the contract to include a “Non Realty Items Addendum” form, to include the equipment and inventory in the sales price. I represented...


The Buyer Would Not Sign the Last Page – SLG 006

Helping seller of a fourplex asking $400,000. The seller used a furnished apt unit for AirBnB weekly rentals. Buyer did not sign the last page of the contract because buyers agent said it was the last page that would be signed only by the buyer attorney, if there is an attorney. The buyer agent did not speak good English and was partially retired from work. I said that buyer should sign the last page where it asked for the seller signature, other we would not have a good binding contract. I...