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All Forum Posts by: Dannielle Spencer

Dannielle Spencer has started 2 posts and replied 15 times.

Thanks Justin,

I already found that group and a few others, but we are still in the process of moving in and getting started at our new jobs, so it will probably be after the holidays before we will be attending regularly.

Hi All,

I'm looking to connect with some active BP members in my area, specifically wholesalers, agents or investors with some deal overflow who might be interested in partnering. My fiance and I just moved into the area this week and are planning on getting more involved in the local REI community. In the meantime while we are still getting settled, BP is the next best thing. :)

1. finishing up first marketing campaign (yay!) which will bleed over in to 2016 a little bit

2. my fiance and I are in the middle of a move right now, so looking to get all of that taken care of before the holidays start

3. we are both starting new jobs this fall as well and I am mid-negotiation on the offer which is a little nerve wracking at the moment.

I'm also excited to meet and start networking with people in our area and hopefully land our first deal by the end of the year!

Post: Is cost of short sale negotiator kosher?

Dannielle SpencerPosted
  • Beacon, NY
  • Posts 16
  • Votes 7

@Wayne Brooks I too thought it was a little odd, but it's listed as a short sale.  I'm sure there will be more paper work and whatnot going forward with the bank, but so far everything is good.

Post: Is cost of short sale negotiator kosher?

Dannielle SpencerPosted
  • Beacon, NY
  • Posts 16
  • Votes 7

So I just wanted to give all of you on here an update -- everything went very well.  The agent came over the other day.  My fiance Ray has been helping out my soon to be father-in-law and was at the meeting with the real estate agent.  

She kind of acts more like a used car salesman than someone who is helping people buy homes, but that being said we had them drop the listing price a little bit as @Elizabeth Nourse suggested, the bank accepted, and my father-in-law is really happy to be saving several grand.  So thanks everyone for your suggestions and advice!

Post: Is cost of short sale negotiator kosher?

Dannielle SpencerPosted
  • Beacon, NY
  • Posts 16
  • Votes 7

@Elizabeth Nourse thanks so much that was super helpful.  

Post: Is cost of short sale negotiator kosher?

Dannielle SpencerPosted
  • Beacon, NY
  • Posts 16
  • Votes 7

Hi all, 

I'm not that familiar with the short sale process as I haven't done one yet.  However, my father-in-law is moving and he is interested in buying a short sale in Albany, New York as his primary residence.  

The home is owned by a friend of a friend and the mortgage isn't underwater yet, but the friend's friend lost his job and will not be able to afford to make payments so the bank has let him put the house up as a short sale before going through the foreclosure process.  

In any event, I'm not entirely impressed with the real estate agent my father-in-law is using.  Among other things, she recently sent him a short sale contract to sign (I'm not sure on specifics as I haven't seen the contract yet) + a bill for $4K for the negotiator.  That bill seems a little steep to me.  That's a little over 3% of the cost of the home ($125K).

And I'm wondering if that amount is normal?  I've seen some mixed reviews elsewhere on the internet saying that I might not even need a negotiator.  I'm also wondering if it's not a normal cost but I do need a negotiator, can I go out and find and use my own negotiator?  I'd greatly appreciate any advice on this, especially from those of you who do short sales on the regular.  Thanks!

@Marylynn Caruso what course are you taking?  

Post: ​Dear Experts. Please read. Please help?

Dannielle SpencerPosted
  • Beacon, NY
  • Posts 16
  • Votes 7

@Ford Smith I hear you on this one!  I am/have been in a similar situation.  I skipped 2 years of college and graduated with an MBA in the middle of the recession + was diagnosed not long after with a very expensive and serious autoimmune disease.  

Job-wise I prioritized connections and responsibilities over the amount I was making because I didn't feel like I had much of a choice at first.  I remember the career counselor at my college laughing at me when I asked him about potential openings during the recession.  He basically told me that he had candidates with much more experience and MBAs that weren't getting jobs, so I shouldn't anticipate anything different.  It wasn't easy going by a long shot, but I managed to find something and then after a few months I found a position that paid next to nothing but it was something where I was able to undertake a lot of responsibility.  From there, I paid off my credit card debt from hospital bills first and deferred my student loan bills for quite awhile.  

I also found a really great book Guerrilla Marketing for Job Hunters and used what I learned from that to really position myself as a great candidate.  The job market is getting much easier now and recently I put in an ask for a job at 100K.  Even if it doesn't go through, I feel like I've faced every "worst case scenario" out there, so I know that even if this doesn't work out something will come along.

In the meantime, my fiance and I have started working on building a real estate portfolio.  We haven't worked through all of our financial issues from the recession yet, but we're well on our way.  Part of that strategy is prioritizing investing over debt.  Although it's not ideal, I feel like real estate is an area where you can make quite a bit of headway through being smart, networking, hustling, and creative financing.  There are tons of great examples on BP.  I especially like the Glenn and Amber Schworm podcast.  All of this is to say that you can figure it out.  It may not be easy, but it is definitely doable.