All Forum Posts by: Account Closed

Yes.

So far since we started investing in notes, the biggest roadblock has been new regulations.

Sourcing notes has been fairly easy (though we're obviously still very low in the chain)

Finding the borrowers has been easy.

Dealing with the borrowers has been fairly easy since either they want to cooperate and find a win-win solution or FC is started and attorneys handle most of the details.

Servicing the agreements is where I don't feel comfortable. It is pretty ridiculous that attorneys are trying to make you pay $2,500 to look over your agreements and verify that they comply with CFPB. Heck, we've barely paid that much for the notes themselves. What a racket.

So yeah.. at this point I feel like we're just navigating through land mines hoping one doesn't blow up in our face. All it takes is one vicious borrower to file a complaint and screw us over.

I'm sure in every company you'll find cutthroat, selfish people who view everyone as competitors, but that hasn't been my experience here. Agents have been very helpful.

The biggest advantage of meeting agents before you actually sign up with a brokerage is that you will already have some potential mentors, or possibly even join their team.

Go to open houses and talk with agents. But yes, you can also talk with the people in charge of recruitment.

Someone here will be able to give you info about it but something even better is go to open houses on Sundays and talk with local agents. You'll be able to ask more questions, especially about the different brokerages.

You're welcome. As others mentioned you can also look at the average day on market but for the sake of answering your question, you would have to pull up the number of listings in a neighborhood and divide it by the average number of sales in the last few months.

They both will lead you to the same conclusions as to which neighborhoods are hot except that neither of them takes seasonality into account (slower winter months will affect your calculations and won't reflect what's going to happen this spring).

They're talking about absorption rate, which is basically the # of houses for sale divided by the # of sales per month. Not how many houses will be available next month.

ie if there's 100 houses for sale and 50 houses sell each month, there's 2 months supply.

That helps you figure out which areas sell faster than others. Some areas will have much slower absorption rates than others due to low desirability.

Before answering, which parts of your presentation do you feel are not working?

Myself, I need to be a little more firm in terms of making people do the required cleaning/fixing to make the houses justify the price. That's my goal for future presentations.

Hey Kris,

What kind of deals are you finding with these guys? I used to send letters and such to pre-foreclosures but the issue was they never had equity. Figured I'd ask since maybe I was approaching it wrong?

You need to provide a lot more information, but it doesn't sound great.

Zestimates are pretty worthless, never trust them. Only an agent can pull up real comparables and give you an approximate market value.

We really don't know the house, your skills, your resources, your perseverance etc.