All Forum Posts by: Dustin Phillips

Ask your Realtors if they would like to NEVER talk to the banks again????? That shouldn't be a hard sell, in fact we, as most do, require that the Realtor never talk to the bank. There ONLY job is to find leads and sell property...

You may pay a flat fee or a % of the spread on a deal if you bring in a negotiator... And I have two deals moving through BoA now, though I just fired my negotiator due to poor service, so choose wisely!

I have two deals with them right now.. They seem to be okay so far. However, one deal they have had for 3 months and it just got assigned to a L.M.

The other is new and they just agreed to stop the sheriff sale yesterday that was scheduled for tomorrow -15th, so while they are okay to deal with, they take forever and a day to get anything done...

Throw it back on her. Ask her to show you where it states that you must provide such a letter. If your purchase agreement states clearly that you will be reselling the property for a profit then that should be the end of the discussion. Call your end buyer and tell them that their sister is jepordizing the deal and that if it does not close it is on her, then explain how the lender would know that the deal is legit, based on the documentaion you provided them...

Sounds like she just wants her brother to think she knows what she is doing, when in fact she is making it worse...

I think I understand? You are trying to make this look formal, and that is fine, but I don't understand why your talking in the thrid person?

Look- If you need funding its here, there are a ton of posts about funding. Look up several of the members here and call them to see if you can work something out..

TEN.... TEN (new) buyers in one day! Read my above post and go back through this whole thread if you have not read it... I may start replacing my old buyers who have not been active- JK - well maybe;)

I would have to agree with Steve. Unless you are going to pay (sounds like the seller will not) just write up the offer and send it over to the seller.

If your not comfortable then send it to your title company or attorney and have them give is a once over. Its really a lot easier than you think...

I'm sending the P.A. now...

I just sent you a request. Send me an email and I will give you the purchase agreement from MIBOR...

Whats your question on the second part of your post?

I know what you mean. When I first started wholesaling I used to est. way too high on my renovations and priced myself out of REO's...

I have the agent who brought me the lead list the property, but you could use the listing agent to do your bpo's too.

Now when I list a property I list on the high side and then just start bringing the price down every week.. So i have an idea what it will sell for in 30 days, based on my bpo, but I list it higher and just reduce the price each week. Then once the bank orders its bpo, if I feel I'm still on the high side, I'll cut it down to where I think it should be....

I think everyone has different ideas on listing before the bpo is ordered, but I do this to show the banks bpo agent that we have not had activity on the house and had to drop it. Plus it helps me gauge where the market is buying at...

So I've been wholesaling a while and most of these I've done, but I did learn a few new techniques this morning.

Today I decided to spend some time trying just two of these and so far, its about 3:30pm i think.. I have picked up 4 new buyers!

that is 4 buyers in 5 hours.... Most have been from the free 45 property report that Eric suggested...

Here is how I did it....

I went to moonfruit and created a free squeeze page- it took 20 minutes to do and with a little html (No html need to create a squeeze page) was able to create a craigslist ad without the crazy url showing!

I then found 45 properties on the MLS (not a realtor but have access through a friend) and presto chango done!

You can PM me and I will send you the link to my squeeze page, copy it if you like, and I will send you the html code to hide your url (you will just have clickable text on craigslist)...

Great thread and thanks for another awsome post on THE B.P NATION

I agree with James-

We have an agent who only does BPO's for us and will give us a 30 day quick sale value.

We do repair estimates and if possible double that figure. So if it needs $10k we adjust our price by $20k (this is not set in stone)...

The only thing I would add is we do offer full commission to the buying agent for a full price offer, but we don't offer anything else to the buyer-Other than a great deal...