All Forum Posts by: Tony Walker

If you are tired of spending money on books. I have a great place to get them for FREE. The public library!

Man Im not going to lie I feel like an idiot. Good advice! I just have to get a library card to the library here since I just moved out here. I didn't know you could request them to order a book though that would be cool.

If you follow Dave Ramsey's advice you don't need a high FICO score because you pay cash for everything.

:cool:

Originally posted by Mike M:

One of my best contacts told me that an REO listed for 180,000 sold for all cash, 225,000.

This is common place in So CAL for REO properties on MLS.
Banks have been pricing properties lower on purpose to get 20 offers and have a bidding war between the buyers.

This is exactly what NOT to do as an investor. Why would any ionvestor pay $45k OVER the ask price, when they could have had the ability to work the ask price below $180k and get it before it ever hits the MLS.

Cary,

We never list a property that we are purchasing through short sale. When a lender requests to see the listing agreement we supply a document that states that the property is not listed due to the fact that a buyer is all ready in place. We have had a few lenders question it, but after talking to them, they will allow us to slide. (It also helps when you have a track record with the lender.)

The more professional your documents look, the more serious a lender will take your company. Corporate Letterhead will make all the difference.

James

Folks - this is a discussion thread. Please do NOT use it to solicit business or your posts will be edited or removed. Thank you.

Hmmm, I would work the short sale approval process (you and your agent) so you remain in control - but I would get an agent involved because… 1. Most banks are going to require it. 2. The bank will only pay RE commissions to RE agents...and require two agents to payout the full commission. So generally you’re not scoring a better deal not having an agent involved...you ‘re missing a business opportunity to strike a deal and share some of the profits with your agent, especially if you’re doing all the legwork and their just putting their name on the offer. Find a good agent that’s aggressive and not scared to work with a bank!

I am not sure if I can help this young lady but she has a Luxury home in North Carolina. It will go to the bank on August 29th. What if anything can we do? I have no knowledge of doing a short sale or have the desire. I would be happy to give the deal to someone for a finders fee. I am ready to discuss it.

I had chase change payoff amount from 2% to 5% on $17000. I had AMEX slash my available in half and BOA Slashed by 40%. I took a loan out from my mom to get all things off my credit and even paid off my car the previous month. I then got a letter from Capital One slashing my line in hal because of too much debt on my name. They sent this to me a month after I paid everything off. They slash it after I pay off $30,000 and a car. Banks are run my crooks. My wife has never had a card is now getting offers with $300 initial line. But after the first statement she will only have $31 available because the rest are fees to open they want $269 to open a credit card with a300 available line. What the hell is going on. This is insane.