All Forum Posts by: Marc Faulkner

Thanks Nick and no problem on turning me in! I know I am a shameless self promoter :)- I am sure Josh will catch it!

I use Explorer and I can't report abuse and have the same problems. I tried to report this post for including a phone number: http://www.biggerpockets.com/forums/266/topics/34097-trade-programs-we-are-direct-

Thanks a bunch Josh! I am glad others here agree that this will be a good feature for the site. I always like when folks see things my way:) Thanks again for creating this enviornment and all that you do Josh.
Live!
Marc

That has been my problem as well. I don't want folks to contact people from my friends list and drop my name while making a sales pitch. Also there are a lot of times in life when the old saying holds true, "it's not what you know but, who you know." I feel my contacts are a valuable assett to our business and I don't want everyone that can see my profile to see who my contacts are.

Thanks for the reply guys. I saw you can hide your profile but that is the last thing I want to do! I just don't always want everyone to know who I know :)

Teri,
Yes that is exactly how note brokers function! You would not have to even worry about any forms-we take care of all the paperwork and closing costs. All we expect our note brokers to do is get a copy of the actual note, sales agreement and enough information on the payer of the note so that credit can be pulled up front. From there we make a quote and expect the broker to negotiate the sale price with the seller and get back to us with what is agreed to. We then make up two agreements, one Fee Agreement w/the broker and a Purchase and Sale Agreement w/the seller. Once the agreements are in place we work directly with your seller to fund the transaction as quickly possible. You get paid when they do!

Just checking to see if there is a way to keep your friends list private?

Yes we work nationwide! We price notes based on yield, equity, seasoning and credit, in that order. Others do it differently. Our strategy is to buy, pool up, season and sell off higher using OPM. Again, others have a different approach. We work with trust deeds, land contracts, contracts for deed or mortgage notes depending on what state we are doing business in. Every state has its own quirks. What are you trying to accomplish and where are you located? I am sure I can help!

According to the information I have, from the state and my CPA, if you intend to buy and sell more than 3 homes a year at a profit, you are a "Dealer". It seems crazy to pay capital gains on something you might never get but, that's the way it is for me right now.

"get liscensed" to be what? A mortgage broker or securities dealer?