BiggerPockets

It doesn't matter what if the seller agrees to the price, the bank determines the price.

Negotiating your own short sale is over rated. Outsourcing while spending your time getting more deals in the pipeline is what you need to be focusing on.

why would you put yourself at risk by offering owner financing on it once you completed the A-B side? You should seriously consider flipping the short and lining up the B-C side before an approval, use transactional funding and cash out, move onto the next one.

The seller and I agreeing on the price was just info for who ever responds as I am well aware that it will be the bank that determines price.

I intend to flip and I have the funding but only for a back to back closing. The short term loan is a back up plan in case I can't find a cash buyer or one with hard money funds. As you all know seasoning clauses can be a... you know and seller financed B to C deals are easier to move, more involved but easier cause then you can sell to a buyer with institutional financing.

I just like to have as many options covered as possible. Thanks for the tips guys! I really have to get moving on this as the seller called me a little while ago anxious to get things underway!

Nick I sent you an email w/ my number too!

Originally posted by Marcus Mccray

Nick I sent you an email w/ my number too!

I got it, I'll call ya tomorrow

Originally posted by John Williams

Nick- How about some more info on who you outsource your negotiations to, and what it costs.

Thanks!

John, you should expect to pay in the $2500 range give or take a buck or two. This isn't usually paid up front but rather out of your profits once you close and cash out.

Don't be offended though if you're new and a processor ask you to put some money up front. You've got to be able to prove your ability to close deals or else the processor is wasting their time. You have to remember, it's a business for them as well.

The biggest benefit by teaming up with me when you've got a deal and just don't know how to execute it is, I know how to execute it, I've got the proven team members in place and have the ability to walk the walk and I'm not skeered to do it :mrgreen:

The only 3 processors I would even consider handling my short sales are James Ward, Scott Hubbard and my star student who is know officially a Rockstar! Justin Schnettler. They are all here on BP and know their stuff.

Justin has a handful of my shorts, James just started to pick a few from me and I plan on including Scott to the mix very very soon as I ramp back up to my usual overloading with shorts as the last few months, I've been slightly lazy working other projects.

I am so excited to be reading on.....already, I have learned so much....Thank you all!

Hi Lyonel,
To answer your question, I purchased Nick's ebook a few weeks back. He asked for pics and testimonials for it so that he could make a video to promote the ebook. Nick and I have not worked together on any deals, but he's been a big help to me in the forums.
I will say though, that I just spoke with him on the phone for the first time about a short sale deal that I'm about to lock up, and asked for his advice, since I've not worked a short sale yet. He was kind enough to help me out (hasn't asked me for any of my money or sent me a bill). He also agreed to help me through it, again, for no money out of pocket.
I see that you're new to the forum, and maybe to REI, and I know it's hard to know who you can trust. I felt the same way, and have been burned before. But just check Nick's stuff out in the threads, blogs, etc. He's a good guy, and very knowledgable. And except for a well-written ebook, he doesn't offer a course, or bootcamp, or anything like that.
Sorry that was kind of long-winded, but I hope it cleared things up for you.

Originally posted by Lyonel Katz

I do not want to be the one to point the finger, so I wont. But I think you get the "Picture".(LITERALLY) :oops:

yes, you do mean to point the finger or you wouldn't have added the additional statement of the picture and included the parenthesis which is done by those that feel their point isn't strong enough so they add the parenthesis to help prove their point.

The problem is when someone does that is they, themselves don't believe the statement they are making so it's done to solidify their own belief which they also know isn't true.

If this come as a surprise to you then maybe you should read up on human behavior and deception techniques taught by David Lieberman Ph.D. This way, when you make those statements and expect no one to call you out, you'll think twice about who you're going to attack publicly.

I am in florida, the company that I use for my short sales doesn't charge anything they also own a title company so the requirement is that I use them for title. But I think its a good deal.

I could not help but visit Nick's website and take a look at a breif video and there I saw your picture. Are you implying in the above response that you have never worked with Nick? How is it that your picture is in Nick's video, but you are inquiring about working with him.

I do not want to be the one to point the finger, so I wont. But I think you get the "Picture".(LITERALLY)

I only can hope that not everyone else posting on this thread already works with or for Mr. Nick.

Your attempt to identify a potential BS artist is commendable and you should fit in here at BP Nation just fine as we all try to make sure we keep out the BS. However, in this case, you have stummbled across a "real player" in Nick. He is not a BS artist and his post count, influnece levels and participation in this forum would tell you that upon some additional reading on your part.

I have in fact worked and am working with Nick on several aspects, including the fact that he is negotiating one of my short sales.

To answer the original question, there is no issue with negotiating your own short as the buyer if you are an agent. Just disclose to all parties.

Blake, there are many transactional funders, including myself, but most do not provide many options, including anything out of the ordinary such as over 24 hours, with different title companies, etc. Of course price is important, but qulaity of service, ability to always perform, and options in services would be a key factor in my book.

I feel like the companies doing it for free would want to buy the house. That's the only reason I'd do it for free. Unless it was my mom or something. Anyway, if you're the investor, that wouldn't work, right?

Wow that's great! Well in that case, what the heck, I'd go with them everytime too!