Offline3/25/09
Shiela is back! I have been absent from the DG website and I feel that I have been quite out of touch.
I have been away on a big project. I have been working closely with my team as the foreclosure and short sale market demand has been quite high. I have also been studying for my commercial broker license/designation. I am dividing my team into two: residential and commercial. Its going to be quite a transition, but I can see attaining a successful transition within 5 years.
As far as investments, I am still active. I did experience quite a challenge now that REO & Short Sale Lenders demand and disclose the "no assignment" disclosure. In such case, I did find that asking for upfront fee from the assignee has been successful. Given that REO/Short Sale lenders will call the contract void if they find assignments involve, I found that by creating an addendum to add a "second buyer" is a loop hole. This way, the seller (which in this market is usually the REO/short sale lender) will generate a revised approval and/or contract approving the secondary buyer to the contract. Since the new buyers' name is on the contract, he/she can have his/her loan documents (if financing) finance the purchase without having to do a double closing.
"If you think what you've always thought, you'll do what you've always done. And if you do what you've always done, you'll get what you've always got" [Napoleon Hill]
I actually just received your email address. I will email you an actual addendum I used for one of my investor who found an endbuyer. Its very simple. Check your email in 5 minutes.
I have been vacationing with the kids and so I apologize for my delays.
"If you think what you've always thought, you'll do what you've always done. And if you do what you've always done, you'll get what you've always got" [Napoleon Hill]
My apologies because I have been MIA, just AWOL! I have been quite busy with the kids during their Spring Break. So, we've been vacationing. In addition, my family from out of the country came in earlier than I expected -- by 2 weeks! They are leaving in 2 weeks and so I will be in and out of touch for the next two weeks.
Anyhow, just a quick update on my high rise condo. I GOT IT!!! I had to lower the price a little bit to my endbuyer by $30K, I promised to give him credit for furniture. We are scheduled to close escrow at the end of June!
*doing cartwheels in the air!*
"If you think what you've always thought, you'll do what you've always done. And if you do what you've always done, you'll get what you've always got" [Napoleon Hill]
Shelia
Thanks a million for the addendum. I am so happy for you concerning the high rise condo. It always feels good when you do a deal. I know you are doing cartwheels in the air! LOL!
Sissy
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"