All Forum Posts by: Account Closed

you can do 500 or 1000, just the strongest offer is typically a 10% for cash EMD.

Their addendums ARE A COUNTER OFFER. If you don't accept their terms, the deal is dead with nobody at fault since they never accepted your original counter.

I love my license, it yields lots of yummy information tools for comps and provides other income streams from time to time. I also get to play the stupid agent card when it suits me.

I've listed for several reo companies (fannie mae being the biggest). The strongest offer to write is 15 days, cash no contingencies. You typically can get away with doing a 10% escrow deposit on acceptance without anyone caring. You in turn use the bank addendums as a counter offer which yields you a 3-4 day period to back out if you need to stretch it.

Using the listing agent usually helps you, or can really hurt you if they are trying to block everyone else.

I always thought MLS access was a REALTOR tool, which is different than having just a license. In florida, you can't have access without having a license (or some agent in your pocket which for the record is totally against the rules and comes with nasty fines if you ever get caught.)

As for doing the course and taking the test but not getting a license, it seems like thats just like going to a bar, buying a girl a drink, driving her to your place and then telling her you aren't interested. Seems like you can get the experience in other ways than going the distance...

Anyways just buy a used copy of the real estate course and read the various chapters. Take the self tests if you want and call it a day? Most agents pass that test with like 20% of the questions wrong anyways.

Expecting early 2012 to look like the end of 2011, kinda slow and boring. Maybe August or so the pipeline will start to fill again and put some downward pressure on housing again. Assuming rent prices hold though, we won't see any major drop. If rent prices cave then we will see a 20-30% further drop. Buy/hold investors seem to be holding this market up in Florida fairly well.

Sorry to revive an old posting, but figured since I'm in florida and have flipped stuff up in jacksonville/orange park area it might be more helpful.

I get this ALL THE TIME since most of my flips are 60-120 days. I ALWAYS tell the lender to pound sand when they ask me for records on what we paid for repairs. IT ALWAYS causes a 2nd appraisal which typically comes in at about what the other appraisal came in at and then the deal closes. Typically it's a quicker appraisal, i guess some sort of drive by or desktop.

I act as an agent though for an investment group which makes it a little easier for mortgage brokers to accept that answer though i think.

Done this once after many attempts. Well sort of..

I found the AM, was BB&T bank if that matters to anyone. They told me the listed price and gave me contact info to submit the contract directly before the asset was placed on the market. They didn't accept my offer till the 1st day it was on the MLS though. My offer was a financed 95% of asking price plus 3% in closing cost to the buyer. A full price cash offer received 2 days later (by a friend of mine as it so happens) was accepted by the realtor as highest and best, by that time though I had directly gotten the AM to accept my offer in writing so the cash offer was later rejected by the AM.

The same bank sold at a trustee sale to another client of mine the same exact house in better condition next door for 72k which we resold for 116k (cash 3 day close). We had a financed offer at 125k but it fell apart. My initial reason for contacting the AM was to try and buy that lesser asset for the same 72k i purchased the one next door but they wouldn't let that happen so I tossed on my agent's hat and took a lesser lead from our trustee listing and made someone happy.

After trying maybe a dozen times and having very limited success I abandoned the practice of dealing with AM's directly unless I was just trying to get a listing.

You can't work outside "the system" with big companies, you can a little bit on smaller ones (smaller banks). Usually they won't take an offer pre appraisal/bpo though. I haven't found a bank willing to act like a desperate crack addict wanting to sell their stuff for their next fix. Always watching out for it though :)

Sadly, you actually have to work for a living in this business.

So, i replace about 4-5 kitchens a year. Any words of wisdom where to buy cabinets? Maple, actual wood, as inexpensive as possible. Use to buy them as a contractor from lowes for about 1500/kitchen they just really pissed me off though and I'm tired of going there.

Jeff, i had a investor client like you before. I printed off a few dozen blank contracts, taught him how to fill it out correctly and gave him the information he needed to submit offers directly when desired.

If you want to be a workaholic, all the power to ya. That said, the agent receiving the offer more than likely isn't moving any faster with the paperwork now that they have it.

to answer your question. it isn't.

He may not realize this though and/or not trust your title company.