All Forum Posts by: Lindsey Kinnsch

Hey Jason,

Good for you! I would drive around in the area you are looking for property and go into some small real estate companies. Smaller ones can be preferable because they are more hands on and people typically tend to be more experienced. Act like a robot, don't let the salespeople break into you or win you over with their personalities. What's most important is experience!!!

Ask them these 3 key questions- SOOO IMPORTANT IN THIS MARKET!!
1.) Do you list REO's? (If so, they will be hella busy! Way too busy for you!!)
2.) Do you have an assistant of your very own? (This is preferable)
3.) Do you have a Transaction Coordinator? (Good to have)
4.) VERY IMPORTANT! Describe your experience with foreclosures. (Better be intense!!)
5.) How many deals have you closed as a buyer's agent on REO's?
6.) How many deals have you closed as a buyer's agent on short sales?
7.) How many deals have you closed as a listing agent with short sales?
8.) How many Investor clients have you had? Are you used to dealing with typical investor's needs?
9.) Do you have a cashflow calculator or any other tools to help my decision?

Let's face it Jason, in this market you need someone with experience in foreclosures. They are the only things moving, and why would you buy an overpriced property anyway? Make sure your agent is QUALIFIED!!! Or it will be time wasted and dollars lost. Best of luck, keep us posted Jason!

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Lindsey Kinnsch
Managing Partner
United California Realty
Team Alliance Debt Elimination

The Southland's Most Educated Foreclosure Counselors

If anyone is experienced at buying notes from lenders at a discount, I have a referral opportunity available, as well as an investor who would immediately purchase the note at a markup. Please contact me immediately.

Well that sounds like a really interesting line of work! In fact, just doing the research I've been doing has sparked an interest in me and I think I might want to move into it from Short Sales. I also kind of think it would be easier than dealing with the $13/hr employees who call themselves Loss Mitigators who are really just paper pushers.

But about Notes: I just heard that you need an approval before buying a note from a bank. I heard you need to jump thru all these hoops just to be able to speak with them about buying a Note. Is that true? What have you found.

Thanks for the feedback. :)

The lender is WILSHIRE, and since its a small bank, i'm actually not sure if they service their own loans or if this is an investor's.

So Capital markets huh? Not Secondary Marketing,,, ok.

That title sounds like you work at a bank and know the exact person you'd be referring to huh... Which one do you work at? I was just laid off in June.

I was just hired (though unwillingly) to purchase a note on behalf of a past client. He held a second mortgage and they both began to default. I encouraged him to foreclose faster than the first and he did. He now owns the property subject to the first note and needs them to take an $80k discount in order to protect his $100K. I know my way around a lender, but where do I start? Loss Mitigation? Secondary Marketing? Submit a short sale package? (I do short sales now and used to run a dept at a lender which is why he felt I was qualified).

But still don't know where to start. Please help with any guidance. Perhaps we can trade information. :)

I think Donna Bauer looks great. I have seen her recommended around here and there and I called her office and left a msg today. I was considering her courses. I wasn't planning on getting into notes as I do short sales, but I think the premise may be the same and I kind of accidentally got hired to buy a discount note on behalf on an investor today!! Did you buy any certain system yet???

Dealing with all these potential clients is too much work. I need a website designed to get retail buyers and then email them for me little tidbits here and there in the meantime between emailing them houses.

I also need a website designed to get sellers and email them to get them tidbits about the declining market and bailout and all that stuff I drool over.

I also need a site designed to track investors to wholesale my discounted cashflowing properties to and do a little email campaign every other week or once a month.

I see plenty of these out there. Where do I sign up?