All Forum Posts by: Colbert Saint-Laurent

Toni,

Loss mitigation department, Special Assets department, you can also ask to speak to the Asset manager. Or who ever takes care of the Performing or non perfoming FIRST position Loans. Usually They will send you a sanitized list (no adresses) and if you are interested they will ask for a LOI and a proof of fund, then you can submit your offer. NPN typically 40% of the upb or PN 60% of upb.[REMOVED] hope i could help.

It is a bulk list so they would have to submit their offer. After they sign my master fee I can send over the tape with addresses in case they wanted to do more due diligence.

There are some performing and some non performing mixed residential / commercial notes.

I recieved a paper of 1st position mortgages from the bank and now im looking for buyers . how do you suggest i build my note buyer list??

The lawyer putting that in writing is up to you, if he can;t put that in writing find another lawyer.

...When you randomly pull over to look at a property because it looks like it can be a good investment.

Great List, I probably have not heard of half of these methods.

I am in contract to purchase my first short sale with hard money. The short is approved for 125K the ARV is 260k. Repair costs are going to be no more than 30k the house just needs to be updated , maybe a new roof. In total we Calculated the expenses to be 65k (190k in total). We intend to sell the house for at least 240k so the buyer walks into the house with equity as well. Any words you would like to share, please do. thanks

Scott I started out 5 month ago in the same place ace 2 completed deals and 1 pending. Something i learned early is STAY AWAY from DAISY CHAINS. You want to be direct to the source, there are a lot of wholesalers out there. I had a few deals fall through because of greed, 3 different people throwing their fees on top :roll: . You Don't have to go for the home run, a single is good too. Good luck!

Why are you thinking so small? If you have and end buyer you could do a simultaneous Closing so the end buyer never knows how much you actually got the property. Its really on you how much you want to throw on top of that 500k. In this business people like to count pockets so if you wholesaled this property for 100k not many people would want to sign a check to you for that amount just for a finders fee.