All Forum Posts by: Matt Whiteside

I talked with a homeowner today who wants to do a short sale. They have the one loan with Boa, the house is currently listed with a realtor. I haven't had the pleasure of dealing with BOA yet so I'm not really familiar with equator.
Should I just tell the homeowner to have the realtor deal with equator, and walk away?

Well today the agent called. I guess his lawyer got through to him and now he's all on board. I guess the fifth time is the charm explaining all this to this guy.

I did the same thing. The seller told me that the realtor wasn't really doing much, and the day I met with him the realtor was starting his vacation. The next day when I called the realtor and explained to him what was going on, he didn't even know the sheriff sale was coming up so soon.
Then he calls up when the BPO agent wanted to get in the place and asks me whats going on, he seemed like he forgot about what we talked about. Then I explained again what was happening, I'm sure his broker told him to try and stop this process.

Well, the lawyer seemed to understand what we're doing, he said he would call the homeowner back to try and tell him he might want to rethink the situation. We'll see what happens. I think the broker is putting pressure on the seller, telling him all contracts have to go through them etc.

Well over the last couple of weeks I finally got my first ss deal signed up. Guy called me up wanted to do a short sale. Went out had him sign a purchase agreement and we sent in the ss package. The bank ordered the bpo last Thursday and then postponed the the sheriffs sale until Aug 26th, it was to be this Thursday. The guy had it list with a realtor, we called him up and asked for the listing agreement he sent it right over, talked to him about the bpo explained to him that he's still the listing agent and he would still be paid his commission. Seemed to be ok with it, well today got a phone call from a lawyer saying that our seller wants out of the deal. My guess is the broker and agent have been putting thoughts in the sellers head.
Since this is my first deal, I'm sure getting the full taste of dealing with a short sales.

Thanks for the greetings.

Helen,
I second what Anthony said. Just read as much as you can and ask questions. As far as building the buyers list I set up a website to capure info and I put some ads up on craigslist and backpage and got my first few from there. I also have started calling "we buy houses" bandit signs and asking them if I come across any houses that they might want can I call them or send an email. Most serious investors will say sure. I know there is a little fear there making that first call, but look at it like this you're not selling them anything you're trying to make them money. They need you, as much as you need them.
Hope this helps, and good luck.

Just wanted to say hello everyone and introduce myself. I've studied real estate investing for the last 6 yrs, but have yet to do that first deal. So many reasons why (other job gets in way, deal seemed wrong at the time, just plain scared to pull the trigger).
I've made a commitment to myself that this is the year that I for lack of a better term "s**t or get off the pot".
I'm going to focus on wholesaling for now to build up some cash, but would like to buy some things to rent for the long term.
I've gotten my website up, business cards, toll free #, talked to my attorney and have my contracts. I've started building my buyers list, have about six people so far.
I put out my first set of bandit signs the other night, will let you know what kind of response I get.

Hopefully we can all help each other out and learn form one another.

regards,
Matt