All Forum Posts by: N.A N.A

T/Y and yes I can hear them clapping :mrgreen:
I would have posted up sooner but its hectic out here..
Between trying to make a living, staying legal and overcoming the objections and fears of those whom have been conned, its hectic..

Cheers! :beer:

Guru_wanna_be

I should have followed up with my solution. :roll:

Yes u are correct! I cannot be paid, period!

I was looking for and ethical and legal way around this...
I am blessed to have been in court recently as a witness for several of my clients where another investor took advantage of them as well as of several hundred other people in a very short time...

Long story short, The Magistrate of our local BK Court District upon succession of the trial ask if I was in a similar business and offered to look over my marketing pieces, disclosures , agreements as well as answer any questions so an not to end up like the knucklehead she just sent packing...
So I figured why not ask...

Her reply was very simple.....NO I CANNOT RECIEVE A DIME but my clients I do refer (without selling them of course because I am not a lawyer cannot advise them in this way) CAN receive a discount that makes sense for the lawyer allowing me room to fee my clients for a service that DOES NOT conflict with the BK (the tricky part)…

So I interviewed about thirty or so lawyers and found 2 whom were willing to offer their services at deep discount…which they make up in volume as I am working about 50-60 of these montly....

So how do I make out?
I now provide legitimate service post bankruptcy that otherwise they may have struggled paying for due to high attorney fees, is not in conflict with the BK and actually provided a better all around scenario for the seller/investor and myself…
So out of the entire headache, out came a nice little profit center….

My new porblem is working all the shorts sales timely and effectively..

:mrgreen:

I own a quickly building foreclosure business.
I have put together a stable of 52 active and cash ready investors to purchase my short sale properties this in part has generated much of my new found short sale success.

As of late, a great percentage of my clients have had to file either 7 or 13 to stall the sale process.

I have been referring all these clients to 1 specific attorney without advising them of course (I am not a lawyer).

I wish to capture a fee from this indirectly since I am prohibited from directly profiting from a law practice since I am not a lawyer. I have sent this lawyer 30-40 deals over the past 60 days and see no end in sight...This number is based on my marketing and clients available is going to go higher and higher.

I have thought about setting up a separate LLC. unrelated to my R.E. ventures & business in an effort to provide a legitimate service and capture in roundabout way the profits I am handing over.

Any help, ideas, etc. is appreciated.

Guru_wanna_be

Ohio?

Any direction on the best source for idea's for short sale exit strategies?

All replies appreciated..

Thank you,

CJ

Intially I used an abstractor to look these up for me..
Then as my lead volume increased it got pricey so I purchased a course online. This course with my counties "table key or abvreviation key" I quickly was able to pull a quick lien search on my leads...

Once I closed a few deals and I found a title company ran all my deals through them (6 to be exact) and worked it out where all my deals go through them and as a courtesy they look up all my properties...

:shock:

Ok, for several months now (6) I have helping homeowners in foreclosure through various methods all in an effort to work on the short sale. During this time I have had someone from the outside working these and quite successfully I might ad. This relationship has to be severed as some of his practices are not in my clients best interest nor in mine. I have no problem getting the calls and clients but the actual short sales I have ZERO experience with.

I need to learn how to package these for the best opportunity to produce results.
My contracts make no guarantees but I am obligated on many levels.

I am not looking for seminars..
I would purchase a book/course if its laid out in such fashion to walk me through....
I have 2 course now and both are for sh@t.
Sure there’s docs, so what....
I need an order of operations....etc...

Any all guidance, direction and/or advice is MUCH appreciated...

Guru_wanna_be

I have several commercial investors whom I have established relationships with whom have asked me to sniff of a few Apartment Building for purchase w/good cap rates and are willing to spend between $500,000. and $1,000,000.

What is a fair % percentage to ask the broker to pay me for producing a ready to go buyer should they indeed purchase?

Guru_wanna_be

She did do fine job I obviously dont read well....