All Forum Posts by: Michael Williams

Well hello brother Crowley, welcome to the BP family!

J Scott, thank you for the feedback and the confusion. Next time I will be more clear, thank you all for your responses. Doug Heise, I will definetly look into that program of Than-Merrills you mentioned.

Hello all,

Let me first start off by saying you all are great, this website is beyond amazing and helpful. I recently obtained a job where im essentially representing a company and buying short sales. The way they have it set up, essentially my best bet is to pursue a couple of key R.E agents and try to generate some leads. My question to you all is, what are some acquisition systems that some of you might have in place to stream line the process.

For example my job is to find a short sale, put an offer in, if approved by the company we will purchase. Then its passed to the construction team and from there myself and the RE agent are looking for cash buyers to buy the property. I am wondering, how are you all managing all the paper work from the beginning to the ending phase? How are you all creating and maintaining relationships with RE brokers? What systems work best for you to maximize business?

Thanks,

Michael

Thank you everyone for the responses, Eric Hettena my employer is a significant commercial real estate developer with quite a few zeroes in the bank. Nothing like a hedge fund or anything but looking to purchase at the lower end of the market and move it. J Scott, unfortunately my employer is looking strictly in Southern California so looks like I have a TOUGH road ahead, I do understand that short sales are drying up, but my employer is looking for short sales and possible unity or properties to tear down and re-develop. Well I just want to be a top producer so seems to me I will have to recruit some bird dogs immediately.

Hello all,

I have some big $ behind me but I am looking for strategies to picking up 5-10 homes a month via short sale, broker/realtor or even REO if possible. All properties are of interest as long as they meet certain criteria. I know this will be a heck of a feat, however, I want to know what systems or people should I reach out to , to be able to accomplish this? Thanks

Well I do know people that have had some success with leave behind fliers or just door knocking. Door knocking being the #1 source for people I have talked with, I'm a newbie so I haven't even closed a deal yet. However, there are quite a few people at the REIA I'm apart of that have found deals door knocking.

Lorene, well for one I am part of the REIC of Los Angeles run by Phyllis Rockwer, and she has plenty of people come out to speak. From people I have talked to, they use Retran (foreclosure service very similar to foreclosure radar but better) and look for people with atleast 70% equity. From there door knock, phone call and try to get the property under contract.

Thank you guys, I guess I KNOW I really want dive into real estate investing so I am really eager to get into it and established like yourselves. However, I really dont have any capital so maybe its best I stay with a regular job until I start earning enough with investing to quick the day to day job.

There is a program out there by Sue Nelson (essentially $2000, which i cant afford) in which she explains how she picks up Notes on multi-family properties from local banks and then whole-sells or flips the property to an investort. I know here on BP people believe not to buy programs, so I was wondering does anyone have knowledge on this topic? I personally dont really have much interest in whole-selling but it seems that its a place where most people start in order to build capitol.

Please get back to me,
Thanks

Wholesaling and flipping interest me, however I am also quite interested in Note buying, and REOs (including bulk).