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May I draw people fromhere for my own pecuniary purposes?

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing May I draw people fromhere for my own pecuniary purposes?

This topic contains 17 replies, has 0 voices, and was last updated by Avatar of homesavers NULL 10 years, 2 months ago.

Viewing 15 posts - 1 through 15 (of 19 total)
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  • #5770
    Avatar of homesavers
    NULL
    Member

    An answer to this question may not be forthcoming but I will ask it anyway.
    Real Estate is a “Zero Sum Game”. This a term that means if one person wins a deal and closes another person loses the deal. Now you can have a few hands in and split the pot but there is only so much to share. Your level of work should determine your level of pay. After all we are not “employees” here.

    Now to my question: If I help other members close short sale deals will I be in competition with Dave Salcido or NARS for that matter? This is a hub for Network members and Non-members. If a network member contacts me or I contact them to close a short sale it seems to me that I will be taking business away from David and/or NARS. I do not want to be a competitor but I cooperator. Make sense? I can work Short Sales just as well as David. If this forum is going to be used to funnel deals to one of members to the exclusion of others than I will have no need to visit the forum. For it will be of no practical use to gain knowledge to close my deals but it will only become a “bird dog” hub.

    #29938

    Work and “Close” all the deals you can. You don’t need Dave, Bill, NARS or anyone else to do that. Believe me, you are no competition to NARS. And what is wrong with competition?

    This isn’t Little League Soccer where no on keeps score and you’re not allowed to be too aggressive. Geez, go try to compete all you want. You have to be able to actually close deals to be competition for one thing. You also need to realize that there are more properties available than you, I, Bill, Dave and every self proclaimed real estate investor can shake an offer at.

    Com’on, be a good American Capitalist and go out and Compete!

    #29939
    Avatar of homesavers
    NULL
    Member

    Thanks, Scott you made my day.

    #29940
    Avatar of bill_gatten
    bill_gatten
    Participant

    Don, to compete with us, all anyone has to do w/r our short sale program is beat the following:

      100% full, All-Cash immediate offer with Proof of Funds (separate and verified with each transaction)

      All offers go to 85% of the appraised valuation

      All properties taken As-Is with no Contingencies

      All funding takes place within a maximum of 72 hours of approval

      The listing agent keeps 100% of his commission

      The listing agent does not lose his listing

      The listing agent can keep his/her sign on the property and continue with any advertising they wish

      We NARS and its affiliate company do 100% of all the paper work and leg work (packaging, interviewing, documentation, bi-weekly follow-up follow up with all parties, etc.

      We sell all properties to retail buyers at 88% of certified Fair Market Value

      We do all negotiations (with 1st, 2nd, HOA, taxing agencies, creditor lien holders, hazard, title and PMI insurance carrier, FnMA, etc.)

      No per-transaction costs to our Emerald and Ruby level members

      We, NARS, are the investor in every transaction, and we receive 100% of the profit spread between our distressed purchase price and the retail end-buyer price.

      Our trained Emerald and Ruby members receive for themselves at least 60% of the total profit-spread on every transaction

      We pay all costs for refurbishment, if any, and all other related costs

      We cover any reasonable price bump by the lender

      We are intimately familiar with all pertinent legal aspects of handling Offer and Compromise real estate transactions

      Any short sale missed will be picked up at the foreclosure sale when an end-user is ready to move in

      Our training and training materials are among the very best in the industry

      We either do not deal with lenders requiring exorbitant seasoning terms, or we put buyers in under EHT tax leases until the seasoning period has ended.

    Now…Don, m’boy…if you can compete with that, please let me know and I’ll send you all of our business.

    With all that said let me respectfully request that outside this particular thread, do not any longer advertise your own short sale program here. We’re not worried about the competition, only about people advertising their own wares on my dollar without specific reference to what the board is for.

    Don’t get me wrong…if you want to offer advice and educational information about the short sale process in general, your input is most welcome. Just stop referring so repeatedly to what YOU do in this business that is contrary to we do, and that is not in the best educational interests of our members and students.

    Thanks

    #29941
    Avatar of homesavers
    NULL
    Member

    Bill your are cooking now. Take it over maestro. Now that it is setup this way I just may send you my extra business when I finish my due diligence. Thanks again. Giving up 80 percent was never exciting to me. Giving up 40 percent is better if all the legal and other heaving lifting is taken care of. People you need to get onto this ship before it sails off.

    #29942
    Avatar of homesavers
    NULL
    Member

    @bill_gatten wrote:

    Don, to compete with us, all anyone has to do w/r our short sale program is beat the following:

      100% full, All-Cash immediate offer with Proof of Funds (separate and verified with each transaction)

      All offers go to 85% of the appraised valuation

      We sell all properties to retail buyers at 88% of certified Fair Market Value

    Thanks

    These numbers do not seem right. At first glance you would think that you only have 3 percent to work with here. I know that you have to somehow legally influence the first BPO/Appraisal. So Buy number one is low enough to flip(Buy number two) at 88 percent of actual market value. I guess this is the “secret sauce”. You have to get the lender to see the first price is better than selling at the actual market value. People this is the “magic key” if you do not get that initial Broker’s Price Opinion(BPO) down to a number that is low enough. Then your deal is done and you have a regular 6 percent commission sale. Get your license so you have that option.

    You need a “man/woman on the ground” to somehow get that BPO to come in low enough to make it worth your while. Does NARS handle this?

    On another note, NARS has all my business when comes to using the EHT as an Exit. As an Entry for Short sales I have not seen the benefit of the EHT at this time.
    You can enlighten me here if you so desire.

    #29943

    @homesavers wrote:

    As an Entry for Short sales I have not seen the benefit of the EHT at this time.

    As for Entry or Exit, no one has ever said that this program requires the use of the EHTrust or any Trust for that matter.

    #29944
    Avatar of homesavers
    NULL
    Member

    Right you cannot use a Trust in a short sale flip deal. thanks, Scott. We still have to clarify a whole bunch of details as to process and responsibilities. I have two short sales right now under contract. Several more can be contracted at any time but I am holding off. Why am I holding off. I have to do all the work so I do not have the time. If I can hand them off and share the profit, if any, then I can get 10 more tomorrow. I will not do this if I do not know who is going to do what. I may send the paperwork into a black hole. Not acceptable.

    #29945
    Avatar of homesavers
    NULL
    Member

    @bill_gatten wrote:

    With all that said let me respectfully request that outside this particular thread, do not any longer advertise your own short sale program here. We’re not worried about the competition, only about people advertising their own wares on my dollar without specific reference to what the board is for.

    Don’t get me wrong…if you want to offer advice and educational information about the short sale process in general, your input is most welcome. Just stop referring so repeatedly to what YOU do in this business that is contrary to we do, and that is not in the best educational interests of our members and students.

    Thanks

    I would rather not have any member send me deals for my own short sale business. I have all I can handle on my own. That was why I was looking for a source to send my overflow to. I am not sending 75 percent of the profit unless I can do a 4:1 ratio leveraging you and your source. Make sense?

    #29946

    @homesavers wrote:

    Right you cannot use a Trust in a short sale flip deal.

    That is not true and it is not what I said. Yes, you absolutely can use a trust in a short sale flip deal, and fully legal I might ad. But, we were not talking about that, we were talking about the New Short Sale Program Bill is using.

    All you said is that, “you don’t see the benefit of using the EHTrust in a Short Sale Flip Deal”. With respect to this thread on the “New” Short Sale Program, no EHTrust is needed or required.

    I personally have used it many times to “flip” Short Sales. I still had to do everything myself including making the offers, finding the funding, finding an End Buyer, negotiating with the bank, creating the documents, waiting months for the bank to reply, etc. The deals were VERY profitable, just ask Dave Salcido. But, we found that it just wasn’t worth the wait and all the work. We found it was much easier and more profitable to do several regular type flips using traditional EHTrust transactions over the same time it took to close one Short Sale so… we don’t do it that way no more.

    #29947

    @homesavers wrote:

    I would rather not have any member send me deals for my own short sale business. I have all I can handle on my own. That was why I was looking for a source to send my overflow to. I am not sending 75 percent of the profit unless I can do a 4:1 ratio leveraging you and your source. Make sense?

    I would rather send all my deals to someone else to work and take 20% to 60% of the profits than keep 100% of the profit and have to do it all myself. I can send 10 to 20 deals per month for someone else to work and split with me instead of working 4 or 5 per month and having to work 12 hours per day to keep them going only to close just 1 of them three to six months later.

    It doesn’t pay to be a paper pusher, phone caller and deal tracker. It’s all about numbers. You can’t close numbers if your working them all yourself. This is the beauty of the New SS Program. Someone else does the deal for you and splits the deals.

    Your question regarding who or what do you send them to is easy to answer. You and anyone else would know the answer to that if you will attend the training required and become a Ruby Member. Those that aren’t willing to do that or work with someone who has are SOL. If you’re not willing then you can try to send them to Dave to work with you but I know he is already overwhelmed with deals from Ruby Members.

    What a great problem to have, too much legit business. Real Deals with Real Solutions. No Hype, No Phony Coaching Programs, No El Toro Poo Poo.

    I’d like to issue a challenge to you. You take 5 deals and send 5 deals to NARS. Let’s see how many get accepted and actually close. Let’s see how much time it takes and how much money you’ll make working them all yourself versus letting the new program do it for you. I’ll bet even if you kept 100% of what you do, it will be much less than using the new program.

    If I’m wrong I’ll send you $1000 CASH. I’ll even put together a complete tracking system for all 10 deals, the 5 you keep and the 5 you “give up”. And, I’ll let you pick’em.

    Here it is, all “in writing” for all to see.

    FAIR ENOUGH?

    #29948
    Avatar of homesavers
    NULL
    Member

    @Scott_L._Moyes wrote:

    [But, we found that it just wasn't worth the wait and all the work. We found it was much easier and more profitable to do several regular type flips using traditional EHTrust transactions over the same time it took to close one Short Sale so... we don't do it that way no more.

    There are so many short sales though. You don’t have to burn through a hundred “willing to stay on the loan” calls to get one. They are very easy to find. However, they are hard to close as you say. Hard in the beginning or hard at the end. I guess it is just a matter of personal preference.

    #29949
    Avatar of homesavers
    NULL
    Member

    @Scott_L._Moyes wrote:

    I’d like to issue a challenge to you. You take 5 deals and send 5 deals to NARS. Let’s see how many get accepted and actually close. Let’s see how much time it takes and how much money you’ll make working them all yourself versus letting the new program do it for you. I’ll bet even if you kept 100% of what you do, it will be much less than using the new program.

    If I’m wrong I’ll send you $1000 CASH. I’ll even put together a complete tracking system for all 10 deals, the 5 you keep and the 5 you “give up”. And, I’ll let you pick’em.

    Here it is, all “in writing” for all to see.

    FAIR ENOUGH?

    I will get the 5 and send them in. I am not sure how you are going to pull this off with Dave overwhelmed with the Ruby deals but I will be glad to take the challenge.

    #29950
    Avatar of homesavers
    NULL
    Member

    “May I draw people fromhere for my own pecuniary* purposes?” Only Scott and Dave are allowed to draw people for their own “pecuniary purposes” from here.
    Thanks for all the knowledge in this forum. I will keep it at that.

    * pecuniary – of or related to money

    #29951

    @homesavers wrote:

    “May I draw people from here for my own pecuniary* purposes?” Only Scott and Dave are allowed to draw people for their own “pecuniary purposes” from here. Thanks for all the knowledge in this forum. I will keep it at that. * pecuniary – of or related to money

    What the hell does that mean. You tell me not to “dog on you” or be negitive and then you come up with crap like that. Dude, you’re in a world of your own.

    BTW, Dave and I ARE NARS, we work FOR NARS as it’s ONLY Master Affiliates. Our purposes are FOR NARS and it’s members. If YOU want to work ONLY NARS Transactions, you are free to “Network” with anyone you wish. But don’t come on here and push your own agenda or methods if they don’t relate to a NARS transaction.

    Our job, Dave and I, are to help members close transactions. We DO NOT get paid by NARS. We must close transactions to make money. Thus, your damn right, when you come on here and what to procure others to your deals, you’re taking money out of our (Bill, Dave, Myself, Jeff) pockets and, all those who depend on these deals closing to feed their families in the NARS Office.

    I may get a scolding from Bill on this but please quit posting unless and until you actually accomplish something. And I mean closing a NARS Transaction. For some reason, I don’t know why, you seem to have a comment, in the form of a BIG YEAH BUT, about every post ever made. PLEASE, STOP ALREADY. Thank You!

    If you have a question to us about actually closing a real deal, we’re here to help you and anyone else.

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