All Forum Posts by: Hazel L

A tool is only as sharp as its user. That being said, I think some others in this forum would appreciate this:

http://www.youtube.com/watch?v=lAl28d6tbko

Just trying to be as clear as possible, we don't do properties on the east coast fyi.

Agreed-- it's not worth the effort.

That sounds great, looking forward to hearing how it goes!

I think it might have been mentioned, but I wanted to sum it up concisely--Your stock cannot offer you shelter, and you cannot live in your stock.

Comparatively, if you're a smart investor, there are less unknown variables RE investors face compared to stocks. Companies consistently have IP and leadership that invariably influence stock price beyond an investor's control. Doing due diligence on a home can reveal electrical/structural problems that are documented, giving the investor the decision to fix them or walk away. You can't "fix" existing leadership on an individual basis.

Hi James, yes you did, I just wanted to clarify that I have a former VP from the mortgage industry on my team who is currently negotiating residential short sales. From my website, you can see I'm coming from a bird dog perspective. This guy does commercial short sales on occasion and is really good at it, but I ask because I'm considering channeling his efforts toward more lucrative endeavors while I market for leads.

Hi Michael, I agree with James, I just ask because each short sale is highly influenced by its location and lender (esp if there are two different mortgages). Overall strategy, combined with the answers from the questions from earlier, is crucial in order to determine which exit strategy to pursue. For example, if the property is in an area that has a good GRM and profitable rent prices, #5 from above might be a good choice. If the location has sufficient demand, #1, #3 or #4 could make sense, etc. Calculate the risks, costs, and benefits for yourself for each situation.

I would highly recommend finding a mentor who is willing to walk you through the process. On top of the strategies mentioned above, if the negotiations don't pan out, you can

1) Refer the property to an experienced short sale listing agent for a referral fee
2) Refer the property to an investor for a finder's fee

I work with some very experienced agent negotiators in the OC, feel free to hit me up if run into trouble.

Interesting strategy, Don. The hard part would be finding a suitable location. Here in Orange County, which is a very popular place to have business HQ's, there are many commercial buildings that have been empty since construction because the recession is hitting businesses so hard.

That being said, as markets are being oversaturated with residential short sale negotiators, what's your opinion on negotiating commercial short sales? True, it might be more time and skill intensive, but what if the effort and time from one commercial deal was equivalent to say, 2 residential deals but the commission was equivalent to that of 5 residential deals?

Very interesting ideas. From looking at CAR laws, 5 or more units are considered commercial. This opens up a whole new realm of possibilities...

Where is the property located and who are the lenders?