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All Forum Posts by: Ryan Lee

Ryan Lee has started 25 posts and replied 138 times.

Post: Wells Fargo short sale negotiation - help!

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51
Originally posted by @Shefali R.:

Thanks @Brett Goldsmith

I will ask listing agent (who is also dual agent) to 1. Push back 2. Ask what is minimum net number. Yes it is the first counter.

Is there any under information we can ask for credibly that could help us negotiate. 

 When the agent is playing both roles you need to verify that the agent is providing the right numbers. Of course they make more commission on the higher sales price. and that's times 2

Post: Short sale - how to check to see if there are no plumbing issues

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51
Originally posted by @Syed Khan:

Thank you for the great advice. How much do you think it will approximately cost to turn them on?

 You would need to verify first with the owners if its okay to put in your name. Then just call up the utility company. they may ask for a $50 deposit or more depending on credit. This probably would need to be done first so that your inspection person can have what he needs to check everything.

Post: New investor help

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51

Step 1 

Get qualified first by a bank.

-1 for a HELOC like @Elizabeth said

2-pre qualify for a mortgage.

Use Heloc to fund the down payment of the home.

Post: Wholesaling a Short Sale

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51
Originally posted by @Cazemba Richards:

Thank you for all the input everyone. I think I'm going to try to wholesale it either by double closing or buying a Corp. However there is a unfortunate twist to the deal. I just contacted the real estate agent and she just confirmed to me that the property is in the process of being purchase. 

I appreciate the help.

 If that opportunity is still available, please let me know. I will pay a referral fee for bringing me that deal.

Post: Newbie from Bowie, Maryland

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51
Originally posted by @Hylton Irons:

Thank you all so much for the encouragement and advice, I hope to attend some local REIA meetings soon and hopefully meet some of you.

 I am also in the Bowie area, lets meet up some time and see if we can do some work together? inbox me.

Post: Short Sale Specialist needed in Maryland

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51
Originally posted by @Elizabeth Nourse:

@Marcus Simon

Hi- I believe I might be able to help you. I'm partnered with a very experienced attorney (Licensed in MD/ VA) that specializes in short sales and distressed negotiation. Together we have currently have a number of short sales that we're jointly doing (three in MD and one in VA active/contract right now). Please review my profile and message me if you're interested. We have a close rate of over 90% and are VERY good at what we do.

Thanks!
Liz

 Liz, I would like to work with you on any short sales that you think may fall through. inbox me.

Post: Maryland Purchase Agreement

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51

A standard purchase agreement is okay.

Post: Short sale taking too long?? What can I do?

Ryan LeePosted
  • Investor
  • Bowie, MD
  • Posts 143
  • Votes 51

I would be prepare if it goes to auction as plan B.