Unfortunately
I’ll have to miss the Nov.10meeting to attend J. Scott
Scheel’s Commercial Property 4 day training in Vegas. HOWEVER: When I get
back, we need to talk.
I’ve been
doing market research and studying
hard; if this works (and I believe it
will) I’ll have some good properties to wholesale to you. But:
I need a realtor to make this work. Any
recommendations? Renee Kohler is perfect but
she’s swamped. Suzette?
This little
company of mine is ready to hunker down with its team now. So The Question is, should this old rookie kneel at the feet of masters? or drop down a notch
and find talented ambitious hungry energetic strivers in the minor leagues
about to break in to the majors?
There’s a
story behind the question. There’s always a story.
I conducted an amazing interview with a master foreclosure/short sale investor
allied with Adobe Title last month. Tiger by the tail.
He asked me
a few questions - where I was in the business (rookie), what I wanted
(save the seller any further pain from the big bad bank), smiled generously (no
hint of patronizing) and then ran an hour long monologue on his extremely
successful methodology:
1. 80-90% of the upper middleclass
underwater clients that come his way WILL go into foreclosure,
2. short sale is a waste of time for them,
so
3. in collaboration with a team a lawyers begin a convoluted game of DELAY DELAY DELAY.
4. Keep the clients in their home for another
TWO YEARS without paying the mortgage, giving them just enough time for
the kids to graduate, for them to retire, then
5. give in, give up, let the foreclosure
proceed, walk away, put the now-empty nesters in a nice modest home/apartment,
begin credit repair. Meanwhile
6. he and the lawyers get their fees and
THAT’s how they make their nut.
I was
dumbfounded. A totally
blindsided rookie left that interview feeling ashamed I was so naïve. In retrospect, though, it was terrific. The gift of a great jiu
jiutsu lesson from a master; still spitting out the grit.
I reject his
philosophy but I am in awe of his technique.
Which brings
me back to the team. Do you have players out there you recommend I approach to
make an alliance? Not to overstate the
obvious, just to put organization to the question, here’s the wishlist:
Realtors: Renee K? Realtor: Suzette?Brokers: Tres Moss.
RE Attorneys: Garrett Sutton, Corporate Direct. Milton Colgrove, Meyer & Colgrove.
Tax Attorney:s Garrett Sutton.
SEC Attorneys?
Hard Money: Terry Weakley, Emerald Dolphin. Lee Arnold, Private Money Exchange.
Appraiser: Residential: Mike Statler?
Appraiser: Commercial: ?
RE CPA: Tom Wheelwright, ProVision. John Coechel?
BookKeeper? Jacenda Anderson?
Private Lenders?
Community Bank Residential/Commercial Loan Managers?
Title Co Agents: Diana Carter @ Stewart Title; Adobe Title;
RE Insurance: Dave Burdick
Financial Advisers (IRA): MidAtlanticIRA (working with them right now)
Credit Repair: Priority 1
List Builders: Robin, REIBlackbook
Webmasters, CRM: REIBlackbook.com
All those wonderful rehabbers, starting with the GC, (Finishing Touches); Roofers (Webb), Foundation (Straightline) HVAC, Plumbing, Electrical, Painting, Cabinetry, Stagers.
Property Management, etc etc etc.
