All Forum Posts by: James Ward

Dustin,

Several of us have explained a few different ways. You can find the info on....

http://www.biggerpockets.com/forums/103/topics/46971-wells-fargo-short-sale-addendum

H Mann,
Yes, almost everytime we negotiate with Wells, we use the same negotiator. This also allpies to most every other Lender.

I agree wiht Scott, it does not state that they will come after any deficiency.

And it is imperative to have waiver language in the Letter.

H Mann,

We work with Wells Fargo on a regular basis. We find them to be one of the more eaiser Lenders to work with. The key to Wells and other Lenders is to use the same Negotiator whenever possible. This saves time and efforts.

We have not had any issues with the 30 day no filp rule. But it is due to how we approach Wells.

We are presently making sure that we have all the releases signed that we needed. We do not want to publish any recorded sessions, without proper approval.

They should be published on the BP Blog section very shortly. I will place a link on the thread when I publish each video.

Kyle,

That is one of the BEST ways to make sure everyone is on board. It also, in a very short time, will allow everyone to get out all questions and doubts.

Glad things are working out for you. Keep posting your success for the BP Nation. This will assist other new Investors in understanding the processes.

I stick to Short Sales. I find the process very fun and not only enjoy the money, but also like the feeling of helping someone out.

Great to hear Alex!

Close it, make some money, and keep repeating.

Reasons Short Sales do not close:
1) Incompetence
2) Impatient Parties
3) Ignorance

I could go on and on, but I guess you get the picture.

The most reiable leads you will find, is to directly market to the property owners.
This will enable you to have full control of the transaction.

Jana,

You sound really confused!

There is NOTHING that states you can not make more than 20% from FHA. The regulation states that if the Seller is selling the property for more than 20% of what they purchased the property for, the property MUST have a 2nd Appraisal and an Inspection.

If you are not clear on this, read over the FHA guidlines again.

But, do not limit yourself.