All Forum Posts by: Cory E.

I did the same thing when I first found biggerpockets. I keep all the important formulas on a notepad on my phone. I also have a binder with different sections such as investor friendly agent, creative financing, formulas, wholesalers, spreadsheets, etc. Being an agent myself and an investor I usually take it out when meeting a new investor or client, as well as potential partners to show them these are the guidelines that myself and many successful investors follow.

Dmitriy Fomichenko I was reading the other day that if I am a part-time realtor(which I am) then I could have a solo 401k. I know my limited amount of funds would be a little bit of a problem but I wanna try and see my other options are instead of just doing the same thing everyone else at the company is going to do and just transfer into the new 401k plan. I wanna at least see if it's my best option instead of blindly signing it and letting the company choose my investments. Thanks for your input.

I've been reading up a bit lately on SD IRA's and solo 401k and would just like some other opinions on what they would do in my situation. The company I work at just sold and we have to transfer are Putnam company 401k to a vanguard 401k. The new company matches 3% if we put in 5%. I have 20k to work with and I'm just looking for some options or suggestions to get a better return for my retirement account. I have 40k in my savings but I'm going to be using that for a down payment on a rental or 2 in a near future. Just trying to thing what I could do with the 20k in the 401k. Would it be better to put it in a IRA, maybe a REIT, or continue to keep it in my 401k. I remember listing to podcast 17, which had some great info on retirement. I'm going to listed to that one again tonight. Of course I will be researching a ton more before I make my decision, I would just like to hear what others investors would do in this scenario.

I just got off the phone with Green Tree and they already assigned it to an REO agent in the area, I will be contacting him and trying to help my buyer. Thanks for all the help everyone!

Wayne Brooks I didn't know I needed authorization from the owner at first because no one told me that for the first month of calling green tree. I am a realtor so I will definitely be waiting to see it pop up on mls. I might call and try to get the listing myself, if that is at all possible. I've noticed there a select couple of people who seem to get all the Reo listings. This property sat on the market for a while and no one was interested, so I'm not worried about someone else trying to buy it, I'm just trying to do the best for my client

Laura Marshall Thanks you so much for all the info!

Laura Marshall The loan is through Bank of America but I've been contacting green tree servicing since the beginning because that's what the bank told me to do. Should I contact Bank of America and see what's going on next with the property? Thanks for all that info

I've been representing a client the last few months on a property that we've been trying to negotiate a short sale on with a mortgage servicing company. It's been about 3-4 months. The property has been off the market. At first they had no information for me to try to negotiate with them and then no one returned my calls. I finally get some answers, contact the owner of the property and had him give me authorization to negotiate with the bank. I sent over a purchase and sales on June 5th and called a few days later and come to find out there is an auction the 11th. Me and the buyer went and it was sold back to the bank. So I called the servicing company again today and they said the home is repossessed and a short sale can not be negotiated now. My question is why didn't they ever try communicate with me? I called so many times. And second, is it still possible to help my client get this property? What happens next with the property?

Gotcha

Jay C. Geez I hope not, now that we understand the process, we are ready to put systems in place for quicker turn around times and we are probably gonna search for some multi-families now.