All Forum Posts by: Dave Grosse

Nick J - you gonna have that conversation video posted today too or do we have to wait a few days?

1) this may be really broad, but how in the hell do you get loss mitigators to budge off their number? does it just come down to providing them some written proof that their number may be way off? I'd really like to see what kind of software is used when tracking large numbers of files. I've had to get several files "escalated" but that didn't do jack - how do you get people to move on a file? there's probably more but that's all I have for now

2) i would absolutely be interested in watching, and taking notes!

Looking forward to the blog!

Jim - yep, I'm looking at trainagents.com. they are listed as an approved school with the state and they look to be the cheapest. has anyone received training from them?

Hi Rebecca and welcome to BP!

yep, in a nutshell, that's right.

Preferably, you'll want to get your hands on transactional funding - you can find a few people here on BP who offer this or just do a google search. Hard Money will come into play if you are forced to hold the property for any length of time.

I would determine the liens on the property first and try to determine what you should be able to sell the property quickly for, then talk with the homeowner over the phone if you can to feel out their situation and determine if they have a real hardship. You could meet with them in person but you may just end up wasting a lot of time driving.

Theoretically steps 3 & 4 are correct here, but in between these steps is where all the real work begins. Make sure you have a good negotiator on your team My parents and I started "doing" short sales this time last year and haven't closed one deal yet - we've had about 6 or 7 fall apart mostly due to a lack of knowledge of the art of negotiating. Basically we suck at it :roll: and you don't want to waste a whole year like we did trying to figure it out.

The two guys on BP that I know offer professional negotiation services are James Ward and Scott Hubbard. I am working with James and he is AWESOME, and even though I haven't worked with Scott , he has provided a TON of useful insight here on the forums and he really knows his stuff.

IN my area, YES you can put the house on the MLS before you own it. My contract basically states that the seller is granting me the right to list the property for sale. You really need to speak with the real estate agents and a real estate attorney in your area to find out how you need to go about it. Of course there's always craigslist, bandit signs, newspapers, etc that you could use too. I prefer to just have my realtor list it on the MLS though - that's what they are getting paid for - you do have at least one real estate agent on your team right?

I think finding a support group would be a great idea - never thought that those might even exist but they probably do. I find most of my leads via the Lis Pendens list(these are the doors you knock on), but we have a few referrals form a real estate agent we know, and you could check with local mortgage brokers, bankruptcy attorneys, divorce attorneys, etc, etc. I think i recall smitnlit putting up a nice list of sources somewhere here in the SS forum.

Hope that helps and good luck!

residential

Hi everyone - I'm interested in getting my broker license when I move to Oregon in a few weeks. I've come across a few websites that offer online training from $300-$800. Can anyone recommend one in particular?

Thanks - Dave

I think you haven't had many more responses b/c sergio pretty much nailed it.

There are differnt schools of thought regarding the bpo - some say it is critical to be there and others don't - I've heard of people getting in good with bpo agents and getting discounts that way, but I've also heard some experienced and successful investors say that it doesn't matter - play it both ways and see what works for you.

there are a few negotiators here on BP that offer flat fees - James Ward aka Crosswind, and Scott Hubbard are the two that I know of. I use James' service personally and he has been outstanding. I'm sure Scott is great too. A flat fee will be in your best interest in the long run. You won't go wrong with either of these guys.

Transactional funding is all over the place - most charge anywhere form 1-3%.

Agents are CRITICAL in my opinion. They will bring you deals and sell your deals faster than you could on your own. I like the pay stucture as follows for realtors who aren't family :) - they will most likely get 5-6% on the A-B. I would offer to pay them a total of 6-7% of the B-C sale price. Say you buy for $100K(A-B), agent makes 5% = $5000. you sell for $150K. 7% of $150 is $10,500. But your agent already got paid $5,000 on the A-B, so you owe them $5500. Its the best way I've found to allow them to get paid very well without wiping out your profits.

hard money?

check with james ward - aka "crosswind" and scott hubbard here on BP. I know James negotiates nationwide and I'm pretty sure Scott does too

Ali, again I doubt that the lender will discount due to the fence and cracks. If it affected the integrity of the building then it would be a different story.

As for the negotiator, it depends. Has your realtor successfully negotiated low payoffs or do they go the route of only submitting offers that the bank says they will accept? IE - if the bank says they want $190K for this place, will your realtor get them down or just tell you that you need to offer $190?

In general I would say hire one anyway. The bank may or may not pay them, if the bank doesn't pay then your &/or your realtor will pay them. But if they do a good job, the added discount you should see will more than make up for it. I would prefer for my realtor to spend more time finding me new deals rather than spending that time dealing with the bank, even if they are good at it.