New Member Introductions
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 16 years ago,
Newbie from New Haven CT
Hello all.
I have been in the mortgage business for 5 years now. About a year ago we had a lead source in Mass and about 9/10 apps we took could not qualify for a mortgage due to negative equity mostly. It got very frustrating and then I came across "short sales" . I worked on a few with a mentor from a company in Cali and got very discouraged. Nothing closed and it was a big waste of time. Long story short I did some more research and decided to do it on my own and learn however I could. Well we are about to close our first short and have a few other in the works.
I have done some networking in the BULK REO business as well but all that has lead to is dead ends thus far. I had a POF and LOI from a buyer but they are exploring other options as all the bulk reo deals fell apart. There are allot of people out there who say they have it but it is mostly BS. If anyone has a source for 20-50mil in NYC that is what they were looking for and I may be able to persuade them to attempt again.
I am looking to set up networks for shorts etc. Still doing mortgages but would rather not as they **** ;-).