OfflineWell hello DG family! I know, I am not around here too much anymore and I miss it. I just have so much on my plate right now, something had to give. BUT, I wanted to let you know that I've now done my first SHORT SALE 'assignment'.
Here's how it worked. One of my partners who had a short sale under contract was going to let it go because it was expiring and they already extended it twice and had been working on it for a year. I told him to hold off on letting it go, I may have a buyer, sent it to my buyer's list and one of buyers was very interested. We signed the finder fee agreement and then resubmitted the short sale paperwork with the new buyer's info.
This is a complicated short sale as there is a first and second on the home. The revised approval with the new buyer was received immediately by the 2nd lien and a month later by the 1st. The bank wanted to close end of Nov, but this gave the buyer 5 days to close. The short sale negotiator was spent and said that there was no way they could get another extension the bank was through with dealing with the extensions and changes from the past. Major prayers went out that day, and 45 minutes after the short sale negotiator said there is no way, we had the extension.
So, the new buyer is closing end of this week. I get my $4000 finder's fee, and split it with the other investor. 
My time involved? About 30 minutes... it took over a month.. but, does it matter?
Go make it happen... it is possible. WORK on a buyer's list. Also, as a bit of encouragement, I have had over 15 assignments of REOs fall through. This is the 16th deal... so, success comes after a lot of failure; keep this in mind and DON'T get discouraged.
It is CERTAIN I will SUCCEED!
God Bless!
~Tammy
Congrats! It is always encouraging when we hear other stories of quick cash success. Proof that NO MONEY NO CREDIT is needed to make money in real estate.
WAY TO GO!!!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson
Congrats Tammy! Way to use your resources.
Lenee
www.allstarhouses.com
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Job well done!
Never a reason to quit this business but every reason to move forward like you did.
Have a Merry Christmas!
Rodney
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CONGRATS... My Lord Bless u to have the courage to follow throu..its a motivation for me to live my DREAM
Congratulations on your first short sale assignment. By staying persistent you are bound to succeed.
Joe
Think less, Do more, Get results. - Dean Graziosi
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Great job Tammy!
Congrats! Nicely done!
Congratulations Tammy!
Sounds like mega FUN!!!
Way to go!!!
Sheila
"If God is for us, who can ever be against us?" Romans 8:31 NLT
This is proof that just moving forward a little at a time can pay big dividends.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Always something happening. Congrats Tammy, I know you can't wait to get that check in hand. Well done, deserve every bit of it. God Bless.
Sandra
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They will be easier from here on!! Great job you wholesaler you!!!
Michael Mangham
MD Home Acquisitions LLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
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Never a dull moment!
Karen
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Way to persevere. Nice holiday present for yourself.
Mark K.
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Quick and Sweet. Congratulations!
_________________
"Keep Going"
Maurice
Congrats on a very nice Christmas Presant. Much success to you....Jan
Job well done. Congrads!
RENinja
"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee
Hey Tammy, this is incredible. Way to stick with it and your planning over the past year payed off!
SEMPER FI
GET SOME!
I've had my share of things go wrong this year, but for the past 4 months I've been actively trying to wholesale and this is FINALLY the first assignment I've done here in CA.
You want to know the real kicker? The investor already KNEW the buyer!!!!! He just didn't market it to him. He actually had a really close relationship with the end buyer. But, because he didn't market it to his buyers, I still get my cut.
Just goes to show, communication is key!
I also followed up my emails with phone calls. 
Tammy,
Way to go. Now you the next one will come soon!
John and Julie Wakefield
JCW Properties, LLC
Nice job on your first Short Sale Assignment! You definitely showed just what persistency and patience can do to pay off big time. Not only is it awesome to see success stories like this, but its really good to take something away from it as well and I certainly took the dedicaton aspect from your success. And of course....it's always good to see a fellow SoCal DGer kick butt with major success!
Great job Tammy and keep it up!!
Andre
"You are who you are without a doubt...And what you put in is what you see out."
Good job Tammy. It pays off to stick with it. Glad to see it pay off.
Keep up the success.
Steve.
Steve and Veronica
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Great job, Tammy! You are definitely making things happen ~ keep up the good work.
your perserverance is nothing short of amazing!!! way to go! nice little Christmas present!
Learning and progressing every day,
Valerie
Valerie
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Today is Friday. Did it happen? I am standing by to wave my pom poms!
Michael Mangham
MD Home Acquisitions lLC
Knowledge is power, but execution trumps knowledge. Tony Robbins
http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site
I thought you couldn't do assignments on short sales/bank owned property. Was the assignment contract outside of the closing like a double closing or something? Sorry I am sure its a green question to ask but fighting with my own closing issues and this type of clarity might help.
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Just an oversight on my part, no delays, I got the date wrong, everything is all set to fund Monday.
Jeremiah, I didn't officially 'assign' the short sale. We went to the negotiator and changed the buyer to the end buyer after the end buyer signed a fee agreement to pay us out of escrow for bringing them the deal. You have to ALWAYS think outside the box. Most of the time, the impossible, is possible with a different perspective and method.
Good Job and thanks so much for sharing and being honest about how long and how many tries it takes sometimes! You have given us great hope--we too, are still striving for that first "wholesale" deal !!! We know it is so CLOSE !
Dave & Gay
Lloyd Properties, LLC
oHHHHHhhh What a feeling! It works here in Southern California; and my first deal was probably one of the hardest to wholesale; a shortsale!!!! I DID IT!
Thanks Dean and DG Family, I've fallen back on a lot of new techniques (to me) that I didn't have in my arsenal to help me through this tough time of trying to refinance out of a hard money loan for 12 months now (that's for another thread). This year I did 3 birddogging deals, 3 rental contracts (rehabbed all 3) and now I can add co wholesaling a short sale of someone elses that they were about to let fall out of contract. 
I actually counted the ones that didn't close. It was actually 27 that fell through and didn't close... so persistence is what will get you through and its important to NEVER give up!!! I need to keep this in mind for this numbing refi too
That is the key. Failure is a part of success! It is CERTAIN we will SUCCEED!!!!
I just found out that my own state of Florida has a 30 day no flipping law on the books and you must hold onto a property for thirty days before you can sell it. Any body else know about this recent law. Does anybody know a way around it legally.
I would like to get in touch with Matt Larson please? I need to be making my first deal before the end of this year and I am desperate! I need some help and I need it real soon. Dean could you please help me here? I want to take action.