All Forum Posts by: Andre Green

Hey Brandon Turner and Dina Morenque thanks so much for the feedback and please don't forget to vote my post up if you like it! I am trying to get on Joshua Dorkin radar of being a productive member of BP LOL. I love BP!!!

Dina I would be more than happy to answer any questions that you may have that I can help with. I am not sure why you are so concerned with mortgage trends at this point in your career but I know that there are some great intellectuals here on BP to answer that question better than I can. Keep forging ahead.

This post is way past overdue but I had to take the time out and share some of my success with the BP community as my way to give back to a community that has given me so much since joining.

I am happy to say that I got my first deal closed of 2013 out of the way in the first 10 days of the year. It was a short sale that I was working on with a partner for about three and a half months which seemed to be pretty fast even with the hurricane Sandy that the northeast endured. This deal that I was finally able to get done was a deal that I found more than 2 years ago.

I was able to locate the homeowner of a rundown property when driving for dollars. After a few conversations I was able to get the owner of this vacant house to agree to do a short sale on the property. After a few months of negotiations with the lender in 2010 I was unable to get the lender to agree to a short sale amount. This was a quite a disappointing feeling after having done all that work but at least I was able to build a rapport with the owner which little did I know come back to be an important factor.

Months went by after the unsuccessful short sale but due to the open lines of communication and rapport that I had built with owner that same owner started to refer other deals to me because of how much they felt comfortable with how I dealt with their short sale even though we were unsuccessful. Fast forward another 18 months I was able to approach the owner once again about attempting to do another short sale with the same lender. This time I decided to partner with another realtor who had more experience than I did with this particular lender than I did. I am not sure if that was the trick that did it but I was elated when we were able to get the short sale approved and then closed. I was more than happy to split commissions because in the eyes of the seller I had now become a reputable realtor that could deliver on their word! This deal gave me the momentum to go through all of my old leads to see what other diamonds in the ruff I could find. I hope this inspires some of you to go back and rehash a few deals.

I hope that this is the beginning of a great year! Thanks for reading BP!

@dale osborn Please forward that my way. I would like to read that. Thanks!

Chris Clothier that sounds like sound advice as usual! Thanks for the feedback. I do think that clear communication will and always is the most important part of business. I will keep you posted on my progress.

Chris Clothier I want to know what type of obstacles do you think I could expect with an inexperienced investor that is going from managing thier own property to hiring me as their PM. I tried to send you a private message but I was having some issues so I decided to post the quesiton here. I hope that is alright and you can respond to me via a private message if you like.

Thanks

Sean F. it sounds like you still have a great chance to acquure the property. Good job. None of that would have even have been possible if you didn't take action. Kepp up the great work and keep us posted.

Good Luck!

Jay Rock Those are decent neighborhoods for flips as long as you are buying at the right price. I would suggest learning how to get a hold of some lis pendens in those areas and do some drives for cash in the areas you want to buy and get in touch with some of the owners to see if they are willing to sell. I do deals in that are and if you have the capital to to the rehab and hold out for a retail buyer the profits are handsome but there are also alot of investors that you can wholesale deals to if you have enough spread in them. Its takes some time but is doable!

Bill Gulley I may have taken some of that to heart but no blood no foul. As usual you have some great advice and insight. I had thought about bringing in a partner but I wasn't sure if that idea was advisable for what would be my own primary residence. I will be working to make my situation (credit) as attractive to lenders in the future to pay off the seller.

I do appreciate your insight and its a bit laughable at some of the posts I have been reading in the forums about others ideas of creative financing which may have but me on edge earlier.

I think I will have to start referring to you as the "Amazing Bill Gulley!"

Welcome Jay Rock to BP. It's great to see another NYC investor on here. I will bring some local knowledge to your question. Depending on what part of Brooklyn and where you source your deals you are in one of the toughest markets in the country to make it happen but it can be done.

Have you determined what area in Brooklyn? How you will find deals? Is it a fix and flip or hold strategy? Identifying some of those can help with the advice.

Bill Gulley I did not mention that I had no money for a down payment I only stated that I was not in the best situation to pursue conventional lending lets say through a lender which is why I used the term "creative" but it sounds as if that term means different things to different people maybe I should have said "unconventional".

I am not rubbing on some magic bottle looking to buy a property with no money with the hopes that I have a great outcome. I was asking the vastly experienced BP community for ideas that I might not have thought of so that as I identified the sellers needs I could have some options to present to the seller to hopefully get the deal done.

Thanks!