SSP Thank You
SSP,
A quick note of thanks.
I just got off the phone with HomEq and they approved my Short Sale offer.
As you know I have been doing other kinds of RE investing for years, but this was my first SS.
It was easy as I just followed the directions in your course, made good rapport with the bank and got the job done.
Will probably make app 50k to 60k on this deal.
Thanks again
John (LV)
[ Edited by jfmlv1950 on Date 11/17/2006 ]
SSP,
That was my plan.
Thanks again.
John (LV)
Hi James,
Hope all is well.
I just wanted to try something different and this deal seemed to be the ideal one to attempt a SS.
Didn’t want to take it Sub to because of the loans and this owner NEEDED help, so a Short Sale seemed in order.
Between the first and second, I got a 40k reduction PLUS the BPO came out about 30k below what the market actually is. I got the property for 210k and the actual FMV is 275k. I figure it really only needs about 3-4k in repairs and cleanup instead of the 12k stated during the BPO.
I also had SSP’s course for a while and decided this was a good opportunity to put his teachings into practice, and he was right on the money.
Always willing to learn something new.
John (LV)
Give me a call when you get settled in.
John (LV)