Short Sale deal finally closed

[ryanpal]

Hey gang, it's been a while since I've been active on here. I have been very busy building my real estate business with a focus on short sales. I have built a pipeline of short sales, but many were getting pushed back for various reasons and others even fell through due to last minute complications.

Nonetheless, I finally closed one (with me as the investor not backing out of the deal and letting it close A-C). I have solid professionals on my A Team and am working on getting these other short sales to the closing table, as well as, many more deals in the pipeline.

The structure of my business needed to be adjusted, but it is a lot more efficient and hands off (automated) than before. I foresee many more stepping stones in the next few weeks. It took many more months than expected to see the fruits of my labor, but now things are finally unfolding.

-I have a solid foundation for my business
-I'm building a name for my company
-I have honest, hard working professionals on my team
-We are helping homeowners
-...and yes, making money

That's what I've been doing over the past few months. I believe I have a topic I can speak about already at the next BP

Ryan

 

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[Runum]

Woo Woo Ryan. You rock! ++++speed:fastlane:

 

[Cat Man Du]

YES..........Speed............DETAILS PLEASE!!

 

[Red]

yes, would love to hear how they are going down in NJ! I've been doing short sales since 2006 & am always eager to learn new things to add to my arsenal for the next one... listed one yesterday if fact! Here we come, Citibank!

 

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[ryanpal]

Thanks guys.

I wish I could give you actual details, but to protect the identities of the parties involved, details will be limited. The bank was HFC. The BPO was issued 10 days after I submitted the short sale package and a week later it was in the hands of a negotiator. The agent did her job very well with meeting the BPO agent at the house. A follow up phone call was necessary (this ensured the BPO agent was on the same page as us for the actual value including of the property).

We faxed a few contracts to the bank since they didn't like the verbage. This turned out to be a good thing since we then lined up a cash buyer. A text book short sale with everyone playing their role correctly.

My other short sales are more exciting stories, I could write a book.

-underground oil tanks
-flooding basements
-squaters
-kitchens being stolen
-climbing through windows so I don't get electrocuted by flipping on the breakers
-smells so bad you could bottle the fluid and sell it as the worse stink bomb in human history

..the list goes on

 

[NoMoneyDown]

Great work!!! Speed++