All Forum Posts by: Mike Keegan

are banks even doing many shortsales on investment properties? I heard they are warming to it but are so busy handling the owner occs and don't have as much sympathy for the investors (but they should)

I would put the house under contract with an assignment. For example, your name and or assignee. The banks will pay the listing agent fees (probably 2% or so) and closing costs. They are more receptive to assignments at this point (look at the alternatives) and will probably give you some time to assign (15-30 days)

I've found over the course of the past few months that the internet is a great way to connect with buyers and sellers. I've been to several sites that offer information on investment clubs but a lot of them(the clubs) are gone. Any other suggestions on how to find buyers of REO's?? I'm working short sale deals in several states as well as packaging some as well.

Just starting to do some shortsales in Ca and AZ. Anybody got advice on where I should start my offers to the banks?? i.e. 70%,80% of BPO??

BTW--- I generally won't try to negotiate short sales on listed properties unless I'm working for the realtor. Maybe somebody can clarify the "option" for me so I understand.

Not sure what "option" allows you to sort of trump the listing agent but I'm surprised that's available. If it is, I imagine the listing agent has priority for sure unless something is written in the option