BiggerPockets

Well, I'm not really surprised by the outcome although dealing with any 'licensed' real estate 'professional' you just never know.

Most of you guys don't know the volume in which I do short sales. I typically do a large amount of volume. Late last year and early this year, I really slowed down due to my own laziness. However I recently hooked up with an agent who is nothing less than a Rockstar!!! Ask James, I think he can easily vouch for that. If you guys are friends with me on Facebook, you'll see that I mention quite a lot about signing 10, 15 and even 20+ contracts a day on a regular basis. Just today, I'll be signing another 5 offers on properties that I have listed. They're all over asking price cash offers and I'll be putting another handful on the MLS to get offers on. We're averaging about a week and a half until we get solid offers on our properties so James is really feeling the pressure from me to get these approval letters quickly.

Well, apparently, a rogue agent or jealous competitor 'snitched' us out to the top whats her name commissioner (I already forgot b/c I just simply don't care) accusing us of fraudulent activities. Apparently, the volume of properties 'raised some concern'

Little did that individual (still unknown who it was/is) know that we're all about full disclosures! Team Motiv8td doesn't need to hide their transactions inside trust beneficiary transfers, option contract assignments or whatever else crap that retards push feel necessary to complete successful short sales.

My team, quickly gathered up the necessary information including the stamp we use on the final HUD1 to be approved by the shorted lender that reiterates(sp?) our intentions that has already been disclosed multiple times of immediately reselling the property for a profit.

The local newspaper even contacted my realtor about doing a story in the paper about the investigation. They never got what they wanted because we quickly won.

We got the approval of the commissioner that we're on the up and up and completely legit. This is even bigger and better because now, not only will I be able to say that I've been personally cleared by the real estate board but also my Rockstar agent as well.

This will now be used to obtain even more contracts as it will be a highlighted piece of our pitch to other agents and sellers.

So, thank you douchebag whoever you are that reported us. You only helped us in a MAJOR way :wink:

Have a great day!! I know I am :mrgreen:

So glad to hear of this outcome Nick.. thanks for keeping us all informed of such matters! Woohoo!
I'm still looking for a ROCKSTAR RE agent.. :-) Any out there?

It's always someone who doesn't understand the business other than their little box way of doing it.

Congratulations to Nick, Jason and all who survive attacks by jealous individuals. It is a testimony to their way of doing business that pulls them through, stronger than before. It also says a lot about the accuser, who mostly will be anonymous!

Okay, since I am personally apart of this I will expand a little more. See, me and the Rockstar Realtor made sure that everything we do was open for review. And when you completely disclose everything to all parties, there is nothing wrong with Short Sale Flips.

What was pretty funny, when me and the Realtor spoke about the ?'s the "commissioner" had, every answer was the exact same. "All parties involved in the transactions are made aware fully of the intentions of all parties. And it is disclosed multiple times on multiple documents." THE END.

I am truly proud of the "team" we have forged!

And yes, I am under pressure from NIck about speeding up the process.

Hope all enjoy reading this!
James

Hi, Congrats Nick and Jason! Competitors can be ruthless and the only way they see to level the playing field is to cause you trouble! There was a lady who was a mortgage broker when I was doing mortgages and she made a stream of claims. HUD came, checked and it was the best brokerage office they had seen for compliance! And at the time, I wasn't even required to be compliant (that's why they were amazed!) She left town after someone turned her in for taking origination fees and not closing deals....so, there you go, that stuff happens! Good luck, Bill

GREAT POST!!!

Get the commissioner to write a statement and publish it EVERYWHERE!!!

Nick and James, thanks for sharing this event with us. That's awesome to hear!

Kyle

That's great news! This a big win for all of us out there doing these kind of deals.

I am actually in the process of working this out with the REC in New Jersey. I am an investor but also licensed agent so my broker sent them an email about 2 days ago. We want their written approval that doing short sale flips is ok if we are in full disclosure.

Hey Nick if you have something in writing from the REC send it over! It will be a great case study for the NJ board to review and pretty soon all of the real estate boards in all states will have to fall in line!

Signing 10, 15, 20 contracts a day?!?

What exactly are you doing?