Another BP deal completed!!!

Many know that Will Bernard and I have joined forces for transactional lending. On short notice, we were able to fund and close for another BP member a $157,000 24 hour deal. I'm sure the happy recipient will post here also. This transaction would NEVER have happened without BP. Thanks Josh for making it a meeting place.
If you want to get things done, make the relationships here. If you need transactional funding, 24hrs-30 days, contact Will . Up and running now. Rich in FL.

Edited: 06/26/2010 at 10:00AM

Christopher W.

Residential Real Estate Agent · Orange County, California

290 posts
2780 Influence
9 Awards

Icon_minipost Oct 09 '09, 07:22 AM

Congratulations! That's great! I love BP. I have met so many great people here.

Edited: 06/26/2010 at 10:00AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Oct 09 '09, 08:29 AM

A quick follow-up. The lender wired the funds at 3 PM this afternoon eastern time. This was a double close on an AZ property. Both closings occurrred nearly simultaneously and the funds were BACK in lenders' account by 7PM this evening.
Rich in FL.

Edited: 06/26/2010 at 10:00AM

Marc Freislinger

Real Estate Investor

894 posts
10400 Influence
11 Awards

Icon_minipost Oct 09 '09, 10:03 AM

Congratulations guys! I'm glad to see that the time and effort you guys put into the site is coming back and rewarding you.

I know that there are a lot of people for whom your advice and knowledge has been extremely helpful, including myself, and it is always appreciated.

Thanks guys and good luck on your future ventures!

Edited: 06/26/2010 at 10:00AM

Marco Quintanilla

Real Estate Investor · Lehigh Acres, Florida

15 posts
82 Influence
1 Award

Icon_minipost Oct 09 '09, 10:55 AM

Hey Rich what about the deposit is that included with the 30 day funding,and do you still want to do lunch, PM me with your number if you still do, so I can give you a call.

Edited: 06/26/2010 at 10:00AM

Nick J.

SFR Investor · Scottsdale, Arizona

2806 posts
27916 Influence
21 Awards

Icon_minipost Oct 09 '09, 11:08 AM

well I know my deal funded back to you guys today but it wasn't a 24hr deal(that's my fault and I paid dearly for it LOL!!!! )

But it's nice to still take home $29k after paying closing costs, realtor fees and your transactional fee's. It would have been $38k if I didn't break the #1 rule of short sales in a moment of weakness.

Be sure to check my blog. I'll be posting up details as to what went down and why it costs me(and made Rich/Will more)

At least that headache is out of the way and I won't be showing weakness anymore and look forward to more deals with you guys.

Who else funded with you guys today?

Edited: 06/26/2010 at 10:00AM

Scott Hubbard

Rehabber · Tucson, Arizona

1025 posts
11652 Influence
11 Awards

Icon_minipost Oct 09 '09, 12:08 PM

Yeah that would be my deal.. Rich stole my thunder as I wanted to post this success myself...

I want to thank BP, Rich, and Will as their entire process could not have been more streamline and effective. I really had a narrow time-frame and Rich and Will really delivered on queue. NO ONE else would have thread the needle like that!!

Obviously, they will be funding all of my transactional funding. In fact, I can't wait to get a BOA approval so I can try the 32 day funding!!

Thanks guys, your on my Xmas card list!

Scott

Edited: 06/26/2010 at 10:00AM

Justin S.

Rehabber · Chandler, Arizona

1162 posts
12272 Influence
14 Awards

Icon_minipost Oct 09 '09, 12:23 PM

Nice post Scott and congrats the deal.

Doesn't anyone but us Arizona guys do short sale flips?

Edited: 06/26/2010 at 10:00AM by Justin S.

Justin S., Wheelhouse Properties
E-Mail: wheelhouseproperties@gmail.com
Telephone: 4806780446
Website: http://www.wheelhouseproperties.com
Realtor, Re-modeler, Cash Buyer

Scott Hubbard

Rehabber · Tucson, Arizona

1025 posts
11652 Influence
11 Awards

Icon_minipost Oct 09 '09, 12:39 PM

Arizona is doing its part in helping this economy one short deal at a time.

Edited: 06/26/2010 at 10:00AM

Will Barnard

Rehabber · Santa Clarita, California

7238 posts
54461 Influence
23 Awards

Icon_minipost Oct 09 '09, 05:44 PM

Scott, I am glad that I/we could be of service and appreciate your kind words. It is our goal to provid this service to all BP members who do short sales (and/or REO's).

As Rich stated, none of this would have happened if BP did not exist, so for all of those who are unsure if being an active member of BP is worth the time and effort - YES IT IS!!!!!!

Hey Rich what about the deposit is that included with the 30 day funding

Marco, if you are reffering to an earnest money deposit or your upfront option fee money, no it does not. That is the ONLY out of pocket expense you incur. We fund 100% of the amount of funds needed to close AFTER you have made the initial deposit or option fee (which can be done for $100 or even less! Just ask Nick, Scott, or Justin.

Edited: 06/26/2010 at 10:00AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Oct 09 '09, 06:07 PM

This is one of the HAPPIER threads I've seen on BP. These deals are WIN WIN WIN WIN deals. The best kind. I love AZ, and the guys purchasing there. This is a great example of each particiapant knowing what they're doing , and doing it right. Rich in Fl.

Marco- I must've forgotten it. Absolutely. I'll be gone the next week. Back to TX to pick up a car I left there and a couple meetings. Following week. PM me.

Edited: 06/26/2010 at 10:00AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Oct 11 '09, 04:29 AM

This is just a bump post for some of those that have posted or e-mailed me about this. Here is the info you asked for. Some new posters aren't aware of how to get back to old posts. Rich

Edited: 06/26/2010 at 10:01AM

George Moehlenhoff

Real Estate Investor · St. Louis, Missouri

82 posts
662 Influence
3 Awards

Icon_minipost Oct 11 '09, 01:25 PM

In short, what is a short sale flip and how does it work? Any and all info appreciated.... Newbie to rei here, trying to soak up as much info as I can.

Edited: 06/26/2010 at 10:01AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

10630 posts
46531 Influence
24 Awards

Icon_minipost Oct 11 '09, 03:28 PM

Guys -
This thread is for success stories . . . lets stick to the topic. If you want to promote your biz, solicit deals, ask questions, etc., lets take it to another forum.

Thanks guys!

Edited: 06/26/2010 at 10:01AM

Joshua Dorkin, BiggerPockets, Inc.
E-Mail: webmaster@biggerpockets.com
Telephone: 877-831-4704
Website: http://www.biggerpockets.com
Be sure to check out the BiggerPockets Blog at http://www.BiggerPockets.com/renewsblog/

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Oct 11 '09, 06:19 PM

There will be lots more of these posts in the future.
George- as a newbie, just go to old threads . Click on forums, pick your topics and have fun. Welcome to BP. Rich on way to TX.

Edited: 06/26/2010 at 10:01AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
43789 Influence
15 Awards

Icon_minipost Oct 12 '09, 08:35 PM

I thought there would be more success stories posted here. I know I've received PMs on this matter in the past . Come on folks, POST some here for all to see. Rich

Edited: 06/26/2010 at 10:02AM