All Forum Posts by: James Ward

Okay, here is an update.

1) 1st Lender- Is currently completing the property valuation. Once they know what they (Lender) want, I will be able to show them that their value is too high. And get a good price negotiated.
2) 2nd Lender- wants about all Lenders to "settle" for the same % of the total amount owed. They will not be performing any valuation of the property.

Once I get a little further, I will give another update.

Also- both Lenders are huge pains, so that adds to the fun!!!!

If you have questions about this deal, post them and I will try to answer.

Thanks,

Great decision Matt. I usually get info from all adults in the property just to be safe.

If you have more questions, just let us know.

Richard,

Thanks! For getting us this info. Sounds very interesting.

It kind of raises some questions, but as it boils down, not a bad deal. 25% for Bird Dogging is a real good deal!

Scott's right on here. It will take you lots of time and effort to get this resolved. And truth be told, you probable will run out of time.

And if you do decide to tackle it, good luck! Getting this stuff resolved is very challenging.

Here you go:

1) Average time from day of meeting a Property Owner to close- anywhere from 8 weeks to many months. As I looked over things the average now is about 10-12 weeks. But many different factors come into play.
2) Average "profit"- This also depends on many items, but about $15,000- $20,000 is a good range.
3) TIme frame for someone just starting- I would plan on about 5-9 months. Also, many items make this change.
4) Why do Short Sales- not only can you make money, but you actually can assist people in a time of need.

As you all can see, I say many times here that several factors will change things. There are so many different ways to perform Short Sales and many other ways to profit. I truly can state- no two(2) investors do it the same way. It all depends on; your business plan, your team, your local area, your local/state laws, and I could go on and on.

Enjoy!

The "word" I heard was its not agaist the rich, but against the OLD. Crazy as it may seem, that is what I hear.

Please remember- I really have no real knowledge of anything I am writting, but just like the attention.

Maybe and this is a huge maybe.... there is a conspiracy against you. You might need to check it out.

Rich,

I just logged in and went to my dashboard. I didn't notice any issues with mine.

Matt,

Keep us posted of how things transpire on this deal. If you have questions, come back and we will try to assist in any manner.

Very interesting Bill. Thanks for letting us know about that conversation.