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Results (8,281+)
Ayo F. Lender insists on receiving an offer via Agent
1 February 2011 | 18 replies
If the agent lists the property with the owner then the brokerage mentioned in the listing contract has the relationship with the owner.The agent is working on behalf of the broker.Most states have laws that all offers that are written have to be submitted to the sellers.Used to what you were doing was easy to do a few years ago.You could try many different tactics depending on what asset manager you got that day.Many short sales were conducted on the fly with the loss mitigation departments.Now the government has created the short sale streamlined process and many banks have actual short sale departments.This means the process is more automated and harder to manipulate in your favor as an investor.Servicers have to go by strict protocol in their servicing agreements.Not following the agreement can affect mortgage insurance payouts and potential lawsuits from investors who own the loans.The servicer has to document everything and show the least damaging route was taken for the investor.When the loan is a RMBS (residential mortgage backed security) sometimes they would rather foreclose than do a workout with the homeowner.This is because the senior investors position for payoff is first and they don't care about the investors in a first loss position on the security.So what you can do as a short sale will depend on the loan type and who is backing it and the servicing agreement.If it has to be listed they will not proceed until it is done.An hourly worker who has to document steps is not going to fore go one of those steps so that you an investor can gain from it.There is a chance that once it is listed that they will still accept or counter your offer.It also depends on if you are paying cash or asking for expenses.The seller almost never has money on a short sale and any costs have to come off the banks side.
Casey Spivey What to motivated sellers want more than anything?
25 January 2011 | 18 replies
I'm not sure if you can create an automated calculator based on the information that is input into the form.
Justin Herrema Vacation Rentals
6 February 2011 | 17 replies
Have you been able to create an automated system for booking?
Michael Lauther Is a property manager worth 8-10%
25 March 2011 | 34 replies
Property managers are definitely worth it.The key is that they do it full time and do not have other things they are working on distracting them from keeping your property performing.I currently do not own any properties.If I did I would have a property manager.I am fixing to buy a franchise business that cash flows 60,000 a year after expenses.The manager will be there meeting with me once a week.I don't have time to run it day to day to squeeze every last cent out of it.I make a much higher return spending time closing deals for my clients.So how you look at this will really depends on your situation and strategy.My strategy is to work on my businesses but not in them.If I have to work IN multiple revenue streams I can't be all places at once.If I set up automated controls in place I can keep a pulse on all streams and make sure they are performing.
Sinco Pare Tenant & City in Cahoots vs. Landlord
4 June 2011 | 1 reply
Laughing to keep from crying...here's a new way for the tenant and city to be in cahoots...somehow disable the automated electronic water meter!
Account Closed Your typical day as wholesaler?
12 May 2011 | 9 replies
I have an automated software system that handles our mail.
Account Closed REO questions
12 May 2011 | 11 replies
The offers usually go through some automated web portal - and there's no place to attach some letter.Remember, the banks own LOTS of these REO properties now, and if they had to read some story on each one, they'd never have time to get anything accomplished.
William Ware How to get a Quick Credit Score Increase
23 May 2011 | 13 replies
Go to FTC website, go to OPTOUT page and sign on, this will take out of the automated lead generating system for six months and this a have seen an increase from 20 to 80 points, it is free and easy, it will help if you wait a week and then send at least a 60% over your requierd payment to all the open credit lines this will force them to report the better than agreed payment and together with the opt out, you should get what you need, it may take around 2 to 3 weeks.
Nick J. Last Night of RE Classes!
25 May 2011 | 10 replies
I feel like there maybe some value I can add to other investors in terms of data and automation by combining the dev skills with the broker benefits.As for real estate investing I continue to build capital in other assets classes while I am still figuring out my specific niche in my local market.
DAVID GAGE Whats the best security system for personal residence?
28 May 2011 | 11 replies
My sister had a heck of a time with false alarms.Keep in mind that many police stations/LEOs won't respond to an automated call, they want a human to call it in.The first defense is simply a deterant, actually the signs will keep amatures away, kids looking for a few bucks or something to hock.If you are in a neighborhood I suggest meeting the neighbors and everyone keeps an eye out for each other.