All Forum Posts by: Gabriel Suppes

Does anyone out there have contact in Maryland at an escrow company that has experience with dealing with investor short sale transactions?

Thank you!

That sounds pretty fair. I just talked to another guy on the phone today who will likely propose something similar. He says that other investors he's working with are getting a decent response.

Anyone have success with something like a live transfer lead, where the person is on the phone and is prepped to talk to you?

Anyone having success with sponsored links on google? (not paid ads)

I've worked a lot with bird dogs but it's so much work training them what to look for. I often end up spending more time educating them than it's worth.

Thanks everyone for your input.

Gabe

Does anyone have any resources they'd be willing to share for reliable short sale leads?

I'm great at closing deals but am lacking in the marketing department.

I have no problem paying for leads as long as the resource is fairly priced.

Anyone have some ideas?

Please don't shamelessly plug your company on this thread.

Thanks,

Gabe

Has anyone seen the following program?

The homeowner is owes 300k to on a first mortgage and they are behind on payments and the current FMV is 150K.

A company offers to come in and purchase the note from the lender at 75% of FMV and then re-sell the home to the homeowner at 95% of FMV with the home owner re-financing into a new loan.

Is this legal and if it is, what has to be disclosed to the lender?

Can the note buyer legally charge the homeowner a fee, either upfront or after the transaction is complete?

What would the chain of title look like?

What's in it for the lender holding the new re-fi note? Isn't this a big risk?

The note buyer obviously would make their money in the 20% spread.

Looking forward to hearing anyone's input who's seen this situation before.

Gabe

Why buy in an S-Corp? Tax reasons.

The cash from any entity is just as good as that of an individual.

So this may be grounds for discrimination. I am going to look into putting a letter together from my real estate attorney to back this up.

-Gabe

The lender is Chase but I am not sure who the investor behind the loan is. The negotiator told me that this is the investors guideline.

Thoughts?

Gabe

Thanks for the advice Will.

I just spoke with the negotiator on a separate file today who said that their investor will ONLY accept offers in the personal name of the buyer. The negotiator said that they would rather foreclose and will reject all offers from LLCs, S-Corps, etc.

This is even more extreme. What to do?

Gabe

Does anyone have any ideas about how to handle a lender that says they won't accept a short sale offer in the name of an S-Corp?

They say that they will accept offers made by individuals or LLCs.

Thanks,

Gabe

You might enjoy our club here in Orange County.

We've been running meetings once per month and have been getting awesome turnouts. We're always looking for new members and new ideas.

Here is a video from our January 15th 2010 meeting:

http://www.facebook.com/video/video.php?v=904863005207&ref=mf

Gabe

I am currently working on a project in which we raise private money and create and LLC which provides seller financing to individual investors. [LINK REMOVED]

I am seeking insight as to if it is possible for an investor with 1031 money to contribute to the LLC which is in effect selling notes.

Any insight?

Gabe