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Short Sale Short Term Deals

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing Short Sale Short Term Deals

This topic contains 30 replies, has 0 voices, and was last updated by Avatar of homesavers NULL 10 years, 5 months ago.

Viewing 15 posts - 16 through 30 (of 32 total)
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  • #29268
    Avatar of bill_gatten
    bill_gatten
    Participant

    Don,

    I think you need to re-read Scott’s post. Being a little hard on him here aren’t we? Scott is a sweetie pie and would never talk that way to a network member. I think you’ve misquoted him. Read it again.

    Bill

    #29269
    Avatar of homesavers
    NULL
    Member

    I am going to retract my statement about not posting since Bill himself responded to me. I know Scott is a great guy and I do not take it personal. We are family. Sometimes brothers don’t see things the same way. Yes. I have known you for a while and I like your sense of humor. :lol: Scott be a little more careful with that wet noodle. ha

    #29270
    Avatar of sstanton
    sstanton
    Member

    @Dave S. wrote:

    If the seller is ready to go short, let’s just create the trust and beneficiary agreement, get the seller to sign and let the negotiations begin.

    How would this get funded using the philosophy that we do not use any of our cash to do this?

    Stu

    #29271
    Avatar of kevinscott
    Kevin Scott
    Member

    Outside Investor or a SECOND IB is in on the transaction.
    It’s funded with THEIR cash, not yours or ours.
    That part I do understand.

    #29272

    Bill,

    Is there a List of Fees for the Buyer created, yet ?

    I want to contact some Realtors in that area with a request for Short Sale properties, but rather than telling them that there will be “costs associated” for their Seller “Up Front”, before they can expect any involvement on my part to try to rescue them from Foreclosure, somehow, I wanted to try to quantify all the different fees and up front expense amounts that I’ll need to charge the Seller in cash, first, so when the Realtor sets up our first contact with the Seller for the Short Sale, they’ll be prepared to wire funds to get started.

    This will also help in advertising.

    “Pay us _____ to Find you a Buyer.”

    Thank you,
    Alan Gross

    How about just Sellfor3500@yahoo.com ?

    That’s my yahoo Email.

    Will that cover a $ 1.5 M deal ?

    Thanks again.

    #29273
    Avatar of dave salcido
    dave salcido
    Member

    @Alan Dale Gross wrote:

    Bill,

    Is there a List of Fees for the Buyer created, yet ?

    I want to contact some Realtors in that area with a request for Short Sale properties, but rather than telling them that there will be “costs associated” for their Seller “Up Front”, before they can expect any involvement on my part to try to rescue them from Foreclosure, somehow, I wanted to try to quantify all the different fees and up front expense amounts that I’ll need to charge the Seller in cash, first, so when the Realtor sets up our first contact with the Seller for the Short Sale, they’ll be prepared to wire funds to get started.

    This will also help in advertising.

    “Pay us _____ to Find you a Buyer.”

    Thank you,
    Alan Gross

    How about just Sellfor3500@yahoo.com ?

    That’s my yahoo Email.

    Will that cover a $ 1.5 M deal ?

    Thanks again.

    Just tell the seller or his agent that has the short sale listing that you may be able to get a buyer for the property. Don’t worry about the funding. It will be covered. Then refer the seller or agent to Bill, Scott or Dave. If we negotiate to the seller’s satisfaction, we will get the property into trust, name you a co-beneficiary, go to auction or have a buyer waiting in the wings and negotiate the short with the bank. That’s really all you have to do. We’ll get the cash to make it work and it doesn’t have to come from the seller.

    #29274

    Dave,

    Well, your answer has been copied, paisted and printed to carry around in my pocket; for viewing at every spare moment.

    Like they say on the Game Shows, while nodding and applauding, “Good Answer, Good Answer.”

    Thank you, until we speak again,
    Alan

    #29275
    Avatar of tmr28
    tmr28
    Member

    If we have a agent/broker that we are working with to give us some short sale listings to use these new short sale methods, how can they be compensated if they are not the listing agent/broker?

    #29276

    @TMR28 wrote:

    If we have a agent/broker that we are working with to give us some short sale listings to use these new short sale methods, how can they be compensated if they are not the listing agent/broker?

    You don’t have to be the “Listing Agent” to get paid commissions. You can be the “Buyer’s Agent” or just an Agent involved in the deal. I witnessed a transaction several months ago that involved 5 Agents. All got paid what everyone agreed to. I think a total of 12% was paid out.

    #29277
    Avatar of tmr28
    tmr28
    Member

    I have a close friend who is a realtor and herequested to be involved in the deals as he has access to many short sale/foreclosure properties. He asked if he could co-broker some of them. What can I tell him and how can I get him involved in a/many transaction(s)

    #29278
    Avatar of mtnwizard49
    mtnwizard49
    Member

    Every time a short sale occurs, EVERY home in the surrounding neighborhood loses significant equity, every one. I just watched my own home lose over $20,000 in value as two homes within a block or so, both on the market in late 2007 for $495K, each sold for $250K.

    Short sales may be good on the front end, but don’t expect an equity any time soon. They are stripping homeowners of their equity, and insuring that values will remain low for a long time to come.

    #29279
    Avatar of mtnwizard49
    mtnwizard49
    Member

    By the way, the fact that our EDIT button has disappeared and nobody in Technical knows how to restore it just proves that despite the space age technology of the NARS EHT, the technical knowledge and follow through on this forum is non-existent and has been for a LONG TIME. Come on, guys, this is a distraction when you can’t edit your own post.

    #29280
    Avatar of tmr28
    tmr28
    Member

    I appreciate the previous post but I would like to have the question on my last post answered on this thread.

    #29281

    @TMR28 wrote:

    I appreciate the previous post but I would like to have the question on my last post answered on this thread.

    You already answered your own question… Co-Broker. If your Agent brings YOU a property, you are considered the Buyer, therefor your Agent is a Buyer’s Agent. The Agents know how to work a Co-Broker arrangement, then them work it out. In the meantime keep making offers on them.

    #29282
    Avatar of homesavers
    NULL
    Member

    @mtnwizard49 wrote:

    Every time a short sale occurs, EVERY home in the surrounding neighborhood loses significant equity, every one. I just watched my own home lose over $20,000 in value as two homes within a block or so, both on the market in late 2007 for $495K, each sold for $250K.

    Short sales may be good on the front end, but don’t expect an equity any time soon. They are stripping homeowners of their equity, and insuring that values will remain low for a long time to come.

    Right Short Sales and REO’s being sold by the folks that got in over their head. That is why we are getting on the flip bandwagon. Long Term EHT’s are hard to find. They are out there but hard. Why not just go for the low hanging fruit and see if you can get in between the Selling Lender and the end buyer. Make money now.

    Gary I am not sure but I think you focus on Long term EHT holds right? How are these working for you? Making money on them?

Viewing 15 posts - 16 through 30 (of 32 total)

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