My Short Sale System Draw-Ring

[Ryan Ellis]

My Drawing of my outsourcing of short sale transactions

I know I didn't invent this stuff, but I wanted to organize my process. Here's how it works.

I train Realtors / Agents to bring me their potential short sale listings. I forward the deals to my outsourced loss mitigation partner.

An outsourced negotiator (The circle with an 'N' in it on my drawing) will meet with the bank's BPO agent to influence.

I perform a double close when the short sale is approved by the bank and sell the house to an end buyer. The funds for the first close are provided by hard money / transactional funding.

I would like my attorney to oversee both closings and make sure I get my check. The Realtor gets paid their commission from the first closing.

I know I left out some things like closing costs coming out of the transactions but I wanted to keep things clean.

1. Do you think I should find a local appraiser in the area to meet the BPO agents?

2. I'm looking for a good loss mitigation negotiator ... I saw a post mentioning Scott Hubbard, James Ward, and Steve Londeau. I have no problem doing my first deal as a JV partner. Does anyone have suggestions, and are there any takers?

3. I have been looking at some transactional lending services such as: Best Transaction Funding (Don't like the raining money on their webpage though), Jed3, etc. Does anyone have someone they have worked with and liked?

4. If anyone has a good buyer's list and would like to get a finder's fee for providing end buyers let me know!

-Ryan "The Closer" Ellis