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All Forum Posts by: Account Closed

Account Closed has started 3 posts and replied 27 times.

Post: Best way to contact Realtors For Short Sales

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

I usually give them a call about a property they have listed as a short sale, though a face to face over coffee might be more effective. I make them fully aware that I'm an investor and what my intentions are. Of course I also let them know they can collect twice on the commission as well. Some of them won't listen at all, some want to hear more and some are more than happy to hear from you. Keep in mind most of them will fall off the face of the earth, never to be heard from again. I think a lot of that is because of negative press on short sale investors.

I just got a Broker onboard yesterday with 2 deals. He had done his homework and asked around about realtors experiences with letting an investor handle negotiations. He did say that several said no way, but 3 did tell him that was the only way they would work them. Less work for more pay.

I have had the same realtor vanish on me twice. She had came back, more than happy to work with me, then "poof", she was gone again.

The realtor I'm using to list my direct to seller listings should end up being a big resource for leads. I offered him the opportunity to list a property for me without asking for any leads. He has 16 short sale listings and has hinted around about having me put in some offers. You might want to try this approach. You're kinda proving yourself without asking much of them.

Hope this helps.

Kyle

Post: Realtor trying to stop sale

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Matt,

Congratulations and way to stick with it.

Sam,

I'm thinking I once read on here somewhere that someone would draw up a purchase agreement, with the fact that the buyer would handle all negotiations and would actually purchase the property. It also came with an area for a signature to verify that the seller had actually been presented with the offer. That way you could get to the seller and get his wheels turning and the agent was just doing his job, which was presenting offers.

Smitnlit,

Do you mind sharing what verbage you use in your CL posts? I've ran a few with no responses.

Thanks,
Kyle

Post: SHORT SALE PROFITABILITY?

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Great post James. I'd say you're right on with the 5-9 months for someone just starting. If I remember right, I first spoke with you and Nick back in early February. Of course there's been a lot of learning, trial and error, and deals, leads and realtors that have fallen through since then.

So I'm heading into month number 6 since deciding to pursue this. I've had one file sent to James that unfortunately was just too close to the sale date, another that was a BofA that just wasn't worth the headache, and just sent a new file just this week. I was also talking with a friend last night and out of no where he told me about a guy that he works with that split with his wife and walked away from his home. I have a call scheduled with him tonight and hope to have it under contract and the file on James desk by the end of next week.

Because I work such a screwed up schedule, 12 hour shifts rotating days to nights, 7 days a week, I was able to find an awesome VA that was willing to work on commission only. She gets paid if I get paid. I get the leads together and she makes the majority of the calls. The contract that I signed this week was the result of a call she had made for me. She placed calls to 27 leads, was only able to speak to one personally, left 7 messages, and I was able to get one under contract. I wish they all could come that quickly and easily!

I'm sure things could've happened a little sooner, but at first I was waiting for the magic one to fall in my lap. I increased my efforts in getting quality leads, got the word out, hired a good VA to assist me and I'm now starting to see things falling into place.

And of course I've had dozens of calls and emails with James and Nick over the past few months. Thanks for all your help and encouragement along the way. You guys are awesome!

Kyle

Post: Helpful Tip for Your Short Sale Contracts

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Nick,

Thanks once again for sharing with us all. I'll be using that myself.

So basically when you're direct to the seller, the TBD would be the only offer or dollar figures on the contract correct?

Thanks,
Kyle

Post: What Does My Short Sale HUD1 Look Like?

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Nick,

Thanks for sharing. It certainly helps to have something to look at.

Kyle

Post: Team Motiv8td Vs. Real Estate Commission

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Nick and James, thanks for sharing this event with us. That's awesome to hear!

Kyle

Josh,

Unfortunately I'm still stuck in a J.O.B. with 12 hour, rotating from days to nights shifts. Sometimes I don't even know what day it is.

That will all change soon enough as I am taking my first short sale under contract this weekend. I know this single deal won't get me out of my job, but it is a step in the right direction. Everything I know, and every business contact made happened through this site. You and this community of sharing and caring people have changed my life in a way that I'll never forget.

Though I'm focusing on short sales now, I do plan to work into rehab flips and would find a recorded seminar that is available for download very essential to my success. BP is my source for education. If I have a question, I either get in touch with one of my contacts that I've met here, post it in the forums, or search the forums for the answer.

Everyone on this site knows that you would and will deliver only quality content, need to know information. Please continue your educational plans. If you have several different strategies available for download for $50 each, I know I'll be buying.

Thanks Josh for all that you've done for me and this great community.

Kyle

Post: Looking for Ohio Purchase Contract

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Hello All,

Wondering if anyone could tell me where I can get or find a purchase contract that can be used in Ohio. I have a seller of a local property that is wanting to proceed with a short sale. He is in Texas and I've already forwarded him all the paperwork except the purchase contract. He's ready to roll with this as the property is set up to auction in about 2 weeks.

I need a contract that I can add the disclosure verbage to. If anyone has anything or any suggestions, it would be greatly appreciated. I suppose I could wait and contact my title attorney tomorrow, but we're both anxious to get this moving.

Thanks,
Kyle

Post: Real Property Flippers

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

Jaime,

An ebook written by BP's own Nick Johnson really opened my eyes and was the final factor in me finally getting off the fence. It's very well written and offers several great ideas that I would've never thought of. It has changed my life in many ways.

DISCLOSURE: I have not and will not be paid for any of these comments on Nick's ebook. I simply wish to give credit where credit it due.

Kyle

Post: What to do with a basement "In-Law" Suite?

Account ClosedPosted
  • Real Estate Investor
  • Alger, OH
  • Posts 37
  • Votes 28

I would certainly suggest seeking legal counsel about your options.

And I sure wouldn't want my mother in law thinking I might have an "in law" suite available.

Kyle