Updated over 10 years ago on . Most recent reply
2 1/2 Month Old Postcards produce great Short Sale deal...
Right around Thanksgiving we bought a deal from a local wholesaler in a key area where we buy property in many cases sight unseen! Before we finished rehabbing that deal I sent out 200 postcards to the addresses within 2 miles of our property and only got 1 call.
Lo and behold on Wednesday, the phone rings and it's a person who got our postcard, been holding onto it and FINALLY decided they were going to get rid of this property... After it's been vacant for 5 YEARS and no payments to B of A (amazing how in a market like Houston, the banks still have mortgages where people are YEARS behind... utterly amazing! I gotta create a business large enough for a BAIL OUT!)
From the looks of things, B of A has sold the loan as a Non Performing Loan to Green Tree Financial so we are gearing up for a Short Sale with them (anyone dealt with them before)...
(Doesn't look like this place been vacant for 5 years huh?)