BiggerPockets

I a very interested, have loi & pof, please contact me so I can have my busines partner work on this

AZ tapes avaible for the fastest closing private seller Tape has clean titles and warranty deeds.

BPO $22,286,377.00

Take down $12,926,099.00 + 3 points

58 cents on the dollar!!!

contact me ASAP

bryan please contact me about your product, buyer proofed up for 20-500mm

Please send me what info you can and what info you need. POF available upon proof tape is deliverable.

Thanks,

Sean

Email [EMAIL REMOVED]

Interested in your portfolios. Please email for more details.

Christopher:

Phishing broker? Seems to be a level of confusion on your part.

I have no problem providing POP. That is not the issue at hand. Purpose of my post was to remind interested buyers that if they want portfolios highlighted above or similar product(s), they need to provide legitimate LOI, soft POF (as indicated in initial post).

Over the past several days, I have received numerous request for product, however, some have provided insufficient and/or outdated LOI's. Unfortunately, bank/lending institution will not entertain ANY offers until they are assured of buyer capability.

Furthermore, I have received additional request that buyer speak directly to seller. Again, bank will not engage ANY buyer regardless of financial strength until LOI, soft POF is submitted first.

Now...I do have a private seller that will speak directly to buyer w/out LOI, soft POF, but buyer must be capable of taking down large portfolios (50M +).

Have anybody bought the tape for California properties and looking forward to liquidate partial of the tape, please contact me. We are a small construction company, looking for properties to flip and can only spend $1mil per transaction. We are focusing on Orange County properties at the moment.

Stacy,

I've sent you an email this morning. Please forward the contact info.

Thanks,
Alison

George:

You bring up some valid points. You and I have conversed numerous times, via email, on this subject matter (bank protocol).

As stated before, seller don't have a problem engaging prospective buyer(s) - all they request is that buyer submit LOI outlining exact parameters of what they are looking for and provide sanitized proof of funds (SPOF) before interacting.

Its part of bank's vetting/screening process.

Sure, I can totally understand high net worth private, corporate investor's point of view. They want to ensure that their information is not placed in the wrong hands and/or data shopped around. However, you have to look at the flip side of things as well. Most Asset/Portfolio Managers don't have the time or resources to field calls from anonymous sources. They want to know who they are dealing with in advance; and ensure buyer capability.

I think some of you are confusing bank protocol with that of a private seller. Private seller SHOULD provide potential buyer with POP, statement of rightful ownership, HUD statements, etc. After all, they are reselling, redistributing packages they received from banks/financial institutions. Banks don't have to do this. They have the product. Impetus falls on the buyer to prove they have the financial capacity to purchase the product.

Let's also kill the notion that banks have pre-existing, pre-packaged, off-the-shelf tapes/portfolios floating around on the market. That's simply not the case. Most, if not all, portfolios coming from banks are customized. From time to time you might see customized portfolio hit the market resulting from another buyer's inability to take it down - but rarely do those heavily discount packages sit around for long (1-5 days), especially in high demand areas such as SoCal, AZ, NV.

Personally, I am not in the business of chasing tapes or dealing with unreliable sources. For those looking for REAL product - I am here!