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Forums » Mortgages & Lending » Short sale deal completed with BP Members

Short sale deal completed with BP Members Subscribe to Short sale deal completed with BP Members

26 posts by 7 users

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Rehabber · Santa Clarita, California


Just another example of the power of BP Nation! A BP member was able to complete a short sale transaction using none of his own money with the help and efforts of my transactional funding and helpful assistance through the final process. We were able to meet a close deadline and fund the deal to make it happen in time.

If you still don't see how BP can help make you money, more educated, and more successfull, look again! :lol:

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


Rehabber · Tucson, Arizona


Details.... More details.. Who, What, When (nevermind), Where, and how much??


Rehabber · Santa Clarita, California


Thanks for your questions Scott!
I would rather not give out details without the permission of the other party. Perhaps he will make his own post to answer your questions.

I can answer a few:
CA short sale (So Cal)
Funded on Tuesday, received payment back today. Received all paperwork last second at approx. 1 PM on Tuesday and as promissed, got the deal funded in time befor eth 2 PM deadline (very tight timeframe)
Without that rush on my part, the deal could have been lost or would have needed renegotiations with selling bank hoping for an extension.

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


Real Estate Investor · sioux falls, South Dakota


I can add a couple items more... The timeframe was REALLY tight on wire, since funds had to be wired to CA from FL. FL is 3 hours later and bank doors CLOSE at 4!! 4 is 1 in CA.See the problem?
Wii forgot to say the rush was even more difficult since his partner(me) was in Cancun for all this .
The wire was $124,462. All parties performed well and , same parties are doing another deal today. Rich in FL.


Real Estate Investor · Chemnitz, Saxonia


Congratulation to both parties!!

A little question I have, you charge 2% of the amount, who pays the wire costs and how much these costs for this deal? No particular reason from me.

-Uwe


Rehabber · Santa Clarita, California


We charge an administrative fee, just as all other companies do, and that fee is $495. That covers the document preperation, wire costs, and other associated costs with the transaction. All costs are paid from the second closing, so no money out of the investors pocket upfront.
Hope that answers your questions Uwe.

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


Real Estate Investor · Chemnitz, Saxonia


All answered Will, thank you.

-Uwe


· Tucson, Arizona


Originally posted by nationwidepi
We charge an administrative fee, ... and that fee is $495. That covers the document preperation, wire costs, and other associated costs with the transaction.


Yes, congratulations (2 votes up) and good for you. What document preperation do you have, and is it done in house, or by (what) others?

Ofgift, trying to get a handle on this funding method, hoping to do it on a smaller scale than you folks. :mrgreen:


Rehabber · lake elsinore, California


Ok. I can't say enough about Will & Rich. They have funded 2 deals for me this week. Both on extremely tight timelines. The first was Tues. I called Will @ 1pm & needed $124K. It was wired by the 2pm deadline. The second was this morning. I called him last night needing $151K to be recieved by the bank by today or the property was going to auction. $151K was wired @ 7am this morning, I did a special recording this morning & the money is in the short sale lenders hands now. I have not met anyone else who could or would be as patient & willing to help someone else with not only 1 but 2 deals in 1 week that were so tight, stressful & chaotic. Because of Will & Rich, I was able to NET $30,000.00 within 1 week. over the next 4 weeks with their help, I will NET another $55,000.00. Just not under the same stressfull conditions. Their cooperation, collective effort & willingness to help are unsurpassed and what sets them apart from the others. I will always use Will & Rich for my deals from now on. Thanks again guys & I look forward to getting together for a drink soon.


Rehabber · Santa Clarita, California


Thanks for your kind words Corry and your business, we both appreciate it.

Ofgift, there are many documents to prepare in this type of transaction and all of which are done in hourse by yours truely. This type of stuff needs to be handled by someone who knows what they are doing as to get it done right and to also protect the funds which go out. Failure to do so properly could reult in major problems or losses.

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


Real Estate Investor · sioux falls, South Dakota


Cory- you brought tears to my eyes with that nice review,,,,,,and money to my wifes' purse!!! RICH in FL.
p.s. My wife thanks you...


Rehabber · lake elsinore, California


Tell her she is welcome & there is more to come!


Rehabber · Santa Clarita, California


Anybody have any kleenex?

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


Rehabber · lake elsinore, California


I figured Will would have something to say!


Real Estate Investor · sioux falls, South Dakota


Cory- Will was just trolling for more votes!! I told him to start this thread. I should've done it and I'd have picked up 18 VOTES!! tic. He'll post a thread monday when the next one closes. That is fine with me. Richer in FL,lol.


Rehabber · Santa Clarita, California


Not really, I am just amazed at how some can come to BP and not get involved. All it tkaes is some effort, and wham! You could make money, or friends, or contacts, or . . . the sky is the limit.

Just get involved, contribute, and reap the benefits as Rich and I have (along with many others).

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


SFR Investor · Scottsdale, Arizona


I need more details!

Why were they last minute headaches? who were the lenders? gimme some dang 'O details homefries!

It's great that you're clearing so many in a short amount of time!

I wish my processor would speed things up(hint hint Mr. Thursday night bowler) so I could close out some of my in a 'quickly' fashion.


Rehabber · Santa Clarita, California


Sitting here waiting for your docs so I can fund your deals Nick!

Corry would have to explain the last minute rush details, all I know is that Rich and I rushed to make sure it funded for him!

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


SFR Investor · Scottsdale, Arizona


Originally posted by nationwidepi
Sitting here waiting for your docs so I can fund your deals Nick!



and I'm hoping that my buyers who put down $5k EMD stay patient while 'Mr. about to have a baby' pushes a few of the through :mrgreen:

daddy needs a new pair of shoes LOL!


Rehabber · Santa Clarita, California


Let's go future Daddy, put down the passifier and diapers and negotiate a close date!

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


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