getsmart

@GetSmart wrote:

one thing you must keep in mind as far as charging a fee for loan mods, just make sure you check your state laws. so states such as NC doesn’t allow a fee before the service is performed and results in a mod the owner can afford. in other words you have to analyze the owners financial situation and determine what they can afford…

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@GetSmart wrote:

I see what you are both saying but when discussing the deed, whether in trust or not. Scott what is the benefit of vesting the deed to the trustee over a corp? Other than the dosc and liens?

The Trustee is a Corporation. (Equity Holding Corporation) None of the individuals or beneficiaries can have any association with or part…[Read more]

@GetSmart wrote:

with the way its worded the seller is assured payments, they could care less about receiving the property back, they want to be done with the hassles and getting the propety back is a hassle. some will go out and get a blood thirsty attorney to rattle you up. i am just saying be careful what you say.

I believe until this day we…[Read more]

@GetSmart wrote:

I have found that calling FSBO sellers are not so motivated. Most want full value now and all cash that is why they want to cut the agent. If anything you might want to put them on a drip campaign.

hey Scott when you say put plenty of signs in the yard how many signs per yard do you recommend?

take a night job delivering…

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@GetSmart wrote:

Scott i was referring to the social networking medium.

That is Social Networking at its finest. Face-to-Face baby.

@GetSmart wrote:

I was gungho when I first started I was asking for deeds all the time and to my surprise i was getting them. now I am a little shaky asking for deeds and the remorse probably shows.

How are you guys asking for the deed? I am not highjacking the thread since its title talking to sellers.

We/I NEVER ask for the deed, ever. We…[Read more]

@GetSmart wrote:

i was gungho when i first started i was asking for deeds all the time and to my surprise i was getting them. now i am a little shaky asking for deeds and the remorse probably shows.

how are you guys asking for the deed? i am not highjacking the thread since its title talking to sellers.

We don’t ask for deeds via sub2. Not even…[Read more]

@GetSmart wrote:

how much time does it take to build up a network that will generate constant leads?

Howbout just one 20 minute Broker or Loan Officer Meeting. I’ve walked out of offices after less than 30 minutes with leads.

Attend just one 90 minute Real Estate Investors meeting and tell the group what you’re looking for.

Or, 30 seconds in an…[Read more]

@GetSmart wrote:

Find a buyer with good credit and seasoning is usually not an issue, that is all I will say about this.

BINGO!

@GetSmart wrote:

also don’t everyone call the lender i mentioned to verify the seasoning issue, let one authority here verify because an over load of calls will always call for a red flag. so scott will you call to verify. don’t want the lender to get spooked by some seminar newbie that can’t really explain what they are talking about.

Amen!

@GetSmart wrote:

JC there is still the issue of two huds. the lender isn’t going to allow any proceeds and a title company that passes out funds and with holding that inform from the hud isn’t going to happen.

no matter what, from what you say there will still be a need for two huds.

You are correct, there are two full sets of HUDS. Since the…[Read more]

@GetSmart wrote:

Jerry that is interesting because the a to b buyer can place the deed in anyones name, but the only problem is the the a to b buyers name has to be on the deed in order to receive a check, unless like you stated the a to b seller signs some type of agreement to surrender the check or proceeds from the second closing to the a to b…

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@GetSmart wrote:

Can you give a run down of where you start off with sending your offers? I ask because it takes time to make an offer and without knowing the numbers its hard to determine what terms.

It all starts with a phone call to the Seller and asking the questions you need to prepare an offer or use the NARS Proposal Template in your…[Read more]

@GetSmart wrote:

So in other words it would be wise to have an attorney draft a deed for every transaction where the investor is not the seller? Plus are there any other documents an investor might want to have an attorney draw up?

I have had the Title Company draft a deed a few times but most of them are part of the whole documentation process…[Read more]

@GetSmart wrote:

Scott, who are you calling and what are you saying to them?

If you have or read your material in the Success Pack you would know exactly what I say.

Look, you guys are making this more difficult than it has to be. This is purely a numbers game and no one, not anyone, can offer what we do.

First of all, most of you talk waaaaaay…[Read more]

@GetSmart wrote:

I can see your concern, but they aren’t really drafting the trust documents all they are creating is the deed to transfer interest in the property.

The Deed to Trustee is also part of the whole process of documentation that the NARS Documetation Dept. handles. Joe has all the necessary Title Transfer Docs for each State. …[Read more]

@GetSmart wrote:

i bet if you had a local closing attorney handle the transaction real estate agents would be more willing to do the deal. if they start asking legal questions, tell them to call your attorney for the details. that sounds so much more powerful and comes off like you are a real mover and shaker.

Even though I don’t like having…[Read more]

@GetSmart wrote:

thats really great, but how are you getting people that contact you with such deep pockets?

i have close to 40 RB’s with 5% within 1 month of advertising. i have to make more offers to match them up now.

@GetSmart wrote:

thats really great, but how are you getting people that contact you with such deep pockets?

Deep Pockets? Whats so deep about 3% to 5% with NO Qualifying or New Loan? Do you know how many thousands of people there are out there that have $10,000 to $50,000 to put down but their credit sucks?

Where do I find them? Referrals…[Read more]

@GetSmart wrote:

wiz, i am not be arrogant and not trying to discredit anything. i am simply saying that there are more than one way to do things. everything has a pro and con. if you think there is no con then you must be……

if you would like me to respond, without getting offended i will.

Hey, thats ok, I understand what you are saying…[Read more]