All Forum Posts by: Tracy Royce

Another Turner in the house! (Brandon Turner nice "thug lean" in the family pic) ;) Chris, if you can deal with helping people wean off drugs and all that goes with that, you will translate that compassion and understanding into working with distressed sellers/renters. You're already well-connected so grab your floaties and jump in! Good to have you here.

Hi Marcus, welcome to BP. I set an expectation for any newbie to not make a paycheck for 6 months. If you can do it in 3, wonderful. Less than that is rare. Keep getting educated and making calculated steps, and ask lots of questions along the way. Best to you!

Hi Eric, welcome to BP! Having a full time job is a great way to start your PT investing business, certainly gives you more leverage. Feel free to use me as local resource, as well.

Hi Robert welcome to BP, always good to see another Phoenician here! Cheers -

Hi Fabian fellow Phoenician here.

Welcome to BP and feel free to connect! There are a solid group of other people in the Valley that are active here in Arizona, so I'm sure you can get plenty of "sounding boards" as you progress.

Cheers -

Congrats Karen! Wonderful to see BP growing and adding new faces to the team :)

Sounds good, keep us posted.

Hi Ray sorry I didn't reply sooner. I forgot to check the "follow this post" box so I wasn't alerted of the new messages.

Thank the listing agent for her/his email, and encourage them to follow up at least once a week. The email she sent to you was a blanket response from the Loss Mit department, but it doesn't mean you guys have to wait 45 days to expect anything. I don't care how long they say it's going to take to hear back....it takes 10 minutes to follow up on the file and see if there's any progress, see if they need anything, see if you can get it escalated, ask them to add a note to the file, etc.

If title came back clean that's a good sign. If there's no MI that will help as well.

With where you are at now, to answer your direct concern, there is no more current information to grasp to provide a clearer conclusion of "you have an 80% chance of getting this short sale done" type of feedback. You are at the beginning of the process, so the next phase is making sure they have everything they need, and getting them to do the BPO.

Your homework might be to make sure the listing agent is following up once a week, and if it's going to actually take more than 30 days to get any sort of response, make sure the Seller is providing updated bank statements and paystubs so you can proactively provide them to the lender. (you can remind the listing agent). Not to say the LA isn't experienced, but if you're question is "how can I increase my chances of getting this done", that's how, for now.

Great thread guys, I've learned a lot as my background is in the SFR space so it's educational to get real world real time insight on a potential commercial short sale/work out

Agreed, and looking forward to it!