All Forum Posts by: Jason S.

Thanks.

The link did not connect but I appreciate the reply.

I found a new broker - tried to throw it out to BP first just in case there was some Insurance Broker hanging around the forum that I could give some business.

I would like to BUMP this thread. It would be great if when accepting a Colleague request you can PM back to the person from the same window - or a new one that pops up.

As it stands when you accept a request you then have to go back to your entire list of colleagues, find the person then send them a note - all the while referring back to the received email to remember what they said to you in their invitation. (OK I know you can go back to the email and re-click their name)

I know it is "nit picking" - I love the site design and functionality for a thousand reasons - this is just "icing".

Originally posted by motiv8td:

http://www.biggerpockets.com/articles/90-the-ultimate-bandit-sign-campaign-

motiv8td - +1 for keeping that link so those like me who had never seen it could enjoy the story.

Robert - you asked for it. Go down to Loaves and Fishes in Sacto and pick up some volunteers.

Originally posted by Scott Hubbard:

2) Create a list of needed repairs contact a licensed Contractor and give him the list. Tell him to give you the Cadillac treatment.

and consider submitting from more than 1 contractor.

Originally posted by Just Me:

Question... how feasible is it to have retail as my main exit strategy (as in 95+%) of the time? I would have to connect with a killer agent and have some good marketing to facilitate this. I would also have to obtain the property at a sizable discount and pass alot of that on to make a quick sale.

How many of you out there successfully have your business structured this way?

Thanks in advance!

It is possible, depending on the market and your need for a quick turn and your cash back. The more you lower that 95% the easier it gets of course - say to 90% - the lower, the more markets you can pull it off. Unless you can carry the cost for much longer. We buy and shoot for 90%. As with anything if you have the cash to wait - you can get a higher price on the re-sale.

Originally posted by wheelhouse:

Lots of short sales are retailed to end buyers it is a very viable exit strategy as long as you have the right team in place.

You'll need:
1. An agent willing to list for you on the B-C side.
2. A lender willing to lend with no title seasoning.
3. A title company or lawyer to facilitate the back to back closing.
4. A good negotiator for your A-B purchase.

I would ditch your plan to find a killer agent and find your own motivated sellers.

When we do this (we buy it flat out) we take care of 1-4 and re-list with the closing agent from the short. Less learning curve on the re-sale. So you "can do it" as long as you are willing/able to carry the cost of purchase until you close the resale.

Anyone want to recommend a broker / carrier for vacant California properties that we are fixing for re-sale?

Originally posted by ogami2312:

Can some seasoned investors or anyone else tell me how can you use a realtor to bring you leads when you are starting off as a new investor with no real estate credibility? Thank you.

Ask yourself, what's in it for them? Because that is what they will be asking themselves the from the first second they begin speaking to you. They are trying to determine "your angle".

Your profile has you as a short sale negotiator so I would assume you want the Realtor to bring you their deals?

So help us help you by giving us some idea of what you bring to the table, if you are not certain then that is OK, we need to know that also.

If you are pitching a Realtor on why they should send you their deals to negotiate, you will want to sell them on your ability to perform. Your track record, resume etc. If you are lean in these areas then you will want to start digging up your own leads to build a track record and resume. In that case we can help you dig up leads.

It really depends on what barriers you are encountering. If you let us know that, then maybe we can help you move forward.

Originally posted by Daniel Fernandez:

If i dont want use an online list, how can i find non-owner occupied properties at the recorders / courthouse do i look through tax bills? is it obvious once i get there? planning my first trip for monday to dig through the NOD and other public docs.

A title rep can get this information for you without too much trouble. That's the best way to go. Otherwise you would look at the assessor records and note mailing addresses separate from property address.

If you call me maybe we can put something together.

Originally posted by Jack Jones:

The problem I see is that I pay $7.5K at closing or can sign the$15K promissory note but the way the agreement reads is that they can still pursue deficiencies. Do you think I should try and get the ShortSale negotiator to try and get the agreement altered that they will not pursue deficiencies?

Jack.

You need an attorney to get you covered. One cannot always save you from a deficiency judgement - but they can do a lot better than most on your behalf. If you are in CA, NV, AZ, WA I can refer you to one.

Please, this IS a time you absolutely need representation. No joke my friend.

Originally posted by Cole Haynes:

Oh one more thing.. . I signed up for a Google voice phone number and I am loving it! It was free but took about 3 weeks for them to finally respond with my "invitation" to sign up for it.

I'm still figuring out all of it's uses but it links the Google number to my cell, home, office, etc. Then you can customize your voicemail for as many different incoming calls you have stored.

Like the guy who screams at you to stop littering, block him.

Did you have to submit to Google Voice more than 1 time? I requested an invitation a couple weeks ago and no response. Just wait? Or submit again?