All Forum Posts by: Jackie Patterson

Mike,

Be sure to let us know how that turns out. Was it difficult to convince the buyer? Did you actually set up a corporation, or is it an LLC? I'm assuming he will pay you xxxx amount to take yourself out so that he owns it alone.
Interesting!

We use Proptrackr for keeping track of short sale properties, and use our own spreadsheets for REO's. Bryan's right......we can adjust it to our needs.

Welcome, Taka!

You'll get lots of information and ideas here.

I agree with George. Whether the lead came from a birddog, or a Realtor, they should be able to take pictures for you. Kwame is also correct.........you'll need repair costs, and the contractor should be able to provide pictures along with the estimated costs.

I think you're a bit confused about how things work. If the property is listed, the agent would write a purchase agreement between the buyer and seller, and proceed as usual. It sounds like you're trying to figure out how to get something by introducing the buyer to the agent with the listing. That would need to be an agreement between you and the buyer.

Welcome, Tom! You'll get a wealth of information here. You might consider birddogging while you're saving money to do your own investing. That's a good way to learn. Also become involved in your local REI club.

Also be sure to keep detailed records and receipts of the repairs / improvements you make, and take lots of before pictures, and then after pictures when you're done. The more documentation you have, the easier it is to justify to FHA a higher sales price. Good luck!

All I was saying Bill was that we have reviewed the system, and understand how it works....and although we have not used it, we feel the system has merit. Take it for what it's worth............I was just making a comment on the post. When we sign a confidentiality agreement we take it seriously. No hype on our part. We're just going about our business closing short sales.

Bill,

We're NOT selling the program, and have nothing to do with marketing it, etc. We are not students, and not associated with SREC or any other of the other gurus. We shared some of our short sale strategies with John and Jerry (they live about an hour away), and in return they gave us the Dovetail program. However, when they did, we signed a confidentiality and non-disclosure agreement so we can't share any information about it. My reason for posting was that I wanted to let people know they are good guys with a successful exit strategy for short sales. Right now, we don't see a need to use it, but as I said, it's nice to know we have it available.

You need some kind of a document management system. When you've got several in the pipeline, you need a way to track them, keep notes, store documents, send alerts, etc.