Is anyone direct with a seller?

I have to ask this question. Without being a " compiler" who wants to gather information and then go searching for product, is anyone out there actually direct with a seller/seller rep that is selling something today?? There seems to be some buyers (they might be fussy but they are buyers) but they can never get to a real seller. I know there are plenty of unrealistic buyers (20M in CA properties for .40-.50) and even some " undercover" brokers who claim to be buyers but maybe there just isn't enough real product out there.

Edited: 06/26/2010 at 04:53AM

Christopher Lippincott

Real Estate Consultant · Little Town, Oklahoma

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Mar 18 '08, 08:35 PM

There's a lot of " real product" but the buyers that have relationships with the banks that see it first aren't letting it by.....and if they do there's a reason

The stuff I see every day (via the broker blast) is RIDICULOUS

I have seen THREE VERSIONS of the same tape

20M, 13M, and 12M........what are the brokers going to do when a REAL BUYER wants it?

Outstanding stuff!!!

Edited: 06/26/2010 at 04:53AM

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Mike Keegan

Real Estate Consultant · newport beach, California

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Mar 19 '08, 12:38 AM

How about the groups that are buying from the banks. How are they liquidating? Auctions I assume? Holding it? Just curious.

Edited: 06/26/2010 at 04:53AM

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Sherri Gaines

Real Estate Consultant · Bowie, Maryland

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Mar 19 '08, 10:18 PM

I'm not a broker, yet our sources are direct or one away. I do have a couple of sources (3 intermediary groups before actual seller) who beg me to bring one of our buyers to them so they can show me what they can do.

I leave it up to the buyers I represent so I haven't closed anything with them yet, but I am intrigued by the amount of inventory and buy prices that they claim.

Anyway... maybe we can do business together. Contact me sometimes.

P.S. Is anyone interested in CMOs or TNs? A couple of packages have fallen out and seller wants them sold.

Edited: 06/26/2010 at 04:53AM

Mike Keegan

Real Estate Consultant · newport beach, California

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Mar 19 '08, 11:17 PM

Thanks for your offer. Let me ask you this. Are your sources looking to compile data from buyers and then going out to find them product? If so, that's kind of what I've already done and I'll keep looking for my buyers. If your sources had actual product for sale and were willing to let us know a little about it beforehand, we could try to get a deal done. I always wonder what is wrong with showing your cards a little if you are the seller. In other words, if I had a tape of Nationwide or just NY or whatever, I would make a sanitized tape (maybe zips,values,prop types only) available to interested buyers only (not their brokers). Heck with the internet you could put it on the net in a view-only format. To ask a borrower to send you everything including proof of funds based on a tease flying around brokers e-mails just isn't happening. If the buyer likes the teaser tape enough, he'll show his cards and away we go. The fact remains the good stuff goes fast anyways, but if these other products exist, a better system has to be found then the broker " blocking" going on right now.

Edited: 06/26/2010 at 04:53AM

Kevin Oliver

Real Estate Investor · Bakersfield, California

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Mar 20 '08, 04:40 AM

Originally posted by "mkbatman"

How about the groups that are buying from the banks. How are they liquidating? Auctions I assume? Holding it? Just curious.

Yes and Yes... I have seen both auctions, buy and hold and some other exit strategies. Just depends on the individual business plan of the investor or investors.

Edited: 06/26/2010 at 04:54AM