Catch as catch can!
Hello Fellow B-Ps!
I've been plagued with an interesting dilemma since 2010 began.. Not only do I have REO products that are direct to seller, BUT I also have buyers!
I would say that the biggest problem that I am witness to recently is that those clients that I truly love working with aren't jumping on the properties that are the true "peach" deals and are left instead with the tired and worn out deals that most investment groups have long stood up from the investing "table" and moved onto the next deal.
This is NOT a complaint, I just hope that I can impress upon my fellow Big Pockets bloggers that unfortunately the great opportunities are such that you take them down first and then spend the next 2 to 3 weeks getting the due diligence done.
I've closed on $194M in SFRs this month alone and also have a Las Vegas Hotel REO, luxury Las Vegas Condos, and a super-secret New York project that is about to close as well.
The groups that did get to the finish line first were those investors that were able to quickly review the numbers and see that there was enough meat on the bones to proceed forward to the dating phase. (It's not a marriage until the deal is funded and you have the deeds in your hands!)
Just some thoughts from someone that has had the wonderful opportunity to work with a few of the investors on this website.
Cheers! :)
Comments (1)
Good thoughts! We see similar activity. Every deal you have to work twice as hard to keep it alive and close. Not too many people rushing out to buy these days, but a lot of lookers!
Tod R., over 16 years ago