All Forum Posts by: Nephtalie Pierre

@Chad Carson Thank you for your input. One of my business partners has a good relationship with a realor and so I'll see if we can work something out with them.

@Tim Dolan Thank you for your feedback. I am actually investing in VA but I will see if I can talk to a lawyer to make sure we are working within the laws in VA.

@Richard Dale-Mesaros Awesome advice. Thank you so much for your input! I will continue to monitor our marketing and tweak things going forward.  And we might consider maybe referring some leads to a realtor with experience in short sales. 

@Russell Brazil thank you for your response! @Alexis Adams it's ok thank you for your responses anyways! 

@Richard Dale-Mesaros thank you for your response as well. We might have to reconsider preforclosure as one of  our marketing leads. We are going to start marketing to absentee owners with equity and we are already doing probates, preforeclosures (which we might have to drop), and tax delinquents . Are you doing anything different? What works best for you?

@Johnny Kang Are you still working short sales? How has/had the process worked for you as an investor? We recently started marketing to preforeclosures and find that we do have a lot of short sales opportunities but I'm just finding out that we will have to list these on the MLS for a couple days before we can make an offer with the bank. So I'm debating if this list is something we should continue to market to.

 Thank you, Alexis, for your response! 

I will definitely follow up with the bank's attorney and follow with the bank's attorney. Also, I am investing in the Hampton roads area in VA. But I am sure that the process is the same. If you know any experienced short sale agents that work in the Hampton roads area that would be great. thank you!

Nephtalie

Hello!

Hope this post finds you well :).

My partners and I recently started mailing to preforeclosure list on a bi-weekly basis. And we have been getting some calls. So far most have been from individuals who owe more then what their house is worth, so they would be a candidate for a short sale. I took a class on pre-foreclosures and foreclosures, so I have most of the paperwork you would need and the process is somewhat laid out on how to negotiate with the bank.  I did have one lead that I was going to negotiate a short sale with the bank but I could tell he wasn't being honest and upfront about somethings but I still was going to see how I could negotiate a short sale (with no experience lol). From the class that I took, they told me all I would need either the case number of the loan officer information who was working on the case. He had neither. So I wasn't sure how to proceed. He had a number for the bank but I had no way to reach someone what would know about his case per say.

I started doing some more research on short sales because I do want to be able to navigate some of these potential leads to more of a systemized tailored strategy butttttt during my research I kept coming across articles that stated that the lender would require the property that is being negotiated for a short sale to be listed on the MLS. Which has me scratching my head because I'm wondering how other investors are closing on shot sale deals if the property is on the MLS. In my head, it would be hard to get it at a good discount. possible but not that easy.

I would like to hear from those who have had some experience with negotiating with the bank on a short sale? and is it really necessary to have it listed on the MLS? especially if it is coming from our own marketing?

TIA!

@Tim Herndon What other list provider are you using?

wow @Jalen Carethers Congrats on moving past those obstacles and into something greater! very inspiring story!

@Daniel Hyman Thank you for your input! I'm working on being more organized. I agree with the paperless options. I love google drive for storing all out docs :)