All Forum Posts by: Norma Wallace

Rick,

Thank you, but I never actually said that to the contact I did find. I wanted the forum to know that info. I will try your "approach from the flank" idea, though. I have a feeling that the person I spoke with is really just for REO props. Maybe by searching for Portfolio Managers for that bank on LinkedIn, and see what I get.

Thank you again Rick, all of those suggestions were very helpful!

Thank you for that info Mike.  One question, how can you tell if a bank is regional or a community bank?

All I can say is WOW! too!, and glad I'm here.

Thank you for your input.

I know for a fact from the last Call Report on a bank I have located, that they have $109,000,000 in non-accruals.  I also know they have the reserves to cover selling these assets.  I made contact, (I thought) with the correct person handling their non-performing assets.  I also know that their Tier 1 ratio is 38%, and their Total Risk based ratio is 39%.  So I see no reason why they can't sell, because they are in good shape to do so.

So far, instead of sending me a note tape, I have received their REO tape, all of which have already been assigned to a broker. She has also said she would forward my request to their Portfolio Managers to see if anything is available. "If anything is available"?

Do you gentlemen think that I should keep trying, in another way or person, to contact a someone else in authority?  Maybe thru LinkedIn?  Although maybe I'm being impatient since its only been one day so far.

Your advice please.

Dear Bob & Dion,

I would just like to make a statement here.  I am not new to the BP website.  I have been reading it on an off for years in other areas of real estate, however, this is my first time posting anything.  In the past, I have always dealt with foreclosure properties, and have successfully negotiated many short sales for investors.  

I am now ready to delve into the note business.  I would like to say that your website Bob, is very, very informative.  I wish I had had it when I was solely wholesaling foreclosures, it would have saved me quite a bit of time.  

I would also like to thank Dion for generously allowing me his time, sources, and knowledge on a personal level.

Thank you gentlemen for the wealth of information, and I look forward to continued reading, and also asking my own questions.

You guys are great!