Last Week’s call where I gathered data from my “following” via Survey Monkey was pretty awesome. Here is an update on my progress with our longer term Transactional Funding Product and ONE SIMPLE TIP THAT COULD EASILY UNCOVER ONE OF THE BIGGEST ISSUES IN YOUR SHORT SALE BUSINESS.
Transactional Funding 30-60-90 Day Funding Update
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#1 by Robert at October 19th, 2009
Hey,
I just reviewed your video and after words this you tube video offered every other company offering similar services…..you may want prevent that to capture more people…and prevent the steering of your interested parties to your competitors… if that helps…
Robert
#2 by Robert Ramirez at October 19th, 2009
Jason,
These are some questions I had from Greg’s webinar. I missed yours, so did you cover these issues?
I can see where the partnership might help when the Short Sale lender is Countrywide and they’re requiring you to hold the property for at least 30 days. But, how is it going to solve the FHA problem if the buyer has to put $5,000 down. If the FHA buyer has a lack of funds, how are they going to put $5,000 down as earnest money? How are we going to fund the A-B if the C buyer has to be in place and that buyer happens to have FHA financing? How is an FHA buyer on the B-C going to get qualified to buy one of our houses if the house isn’t even seasoned yet? The lender isn’t going to say we’ll fund this transaction in 90 days after it’s been seasoned, but we’ll approve the transaction now. Also, what if the buyer decides they don’t like the house after all or finds another house while your seasoning it? What if the buyer can’t close after it’s been seasoned 90 days and it goes beyond the 120 days, then you make no money? What if you buy with a $10,000 spread and the market depreciates further and the buyer walks?
#3 by Don at October 19th, 2009
Good job. Glad to see you’re reacting to the fix-a-flip system. It sounds like a good system but why do they have you sign up and pay a $1000 to participate when they will be making money on your flip anyway.
#4 by Ronald Robbins at October 19th, 2009
I really like your approach to offering longer term funding. Eager to kow what you are planning after your evaulation.
Separately, I have been using your Proof of Funds letters for many offers( 2 to 5 per week). I have recently had a lender/bank on one of my offers on an REO to question the statement on page 2 of the PoF letters, specifically the one that reads “..provided that the borrower has a valid contract to resell the property on the same day…”. Their comment was this doesn’t appear to be a valid offer for their property. So they rejected a fairly good offer. The Realtor with which I’m working now has a feeling that this may be the reason many of my offers are being rejected. Question: Could this be changed to enhance my offers? Thanks!
#5 by Ahmad at October 20th, 2009
Great stuff as always. I’ve recieved other emails from other sources out here….hope it does work out. Can’t speak for others but myself.
If U brillant minds can figure it out & I alone others striving to earn a living, then I say God bless yaa brother.
For the most part after learning of U I have my 1st short sale hopeing to get my approval later soon, since it’s all been agreed upon the offer.
It’s been a 2 couple weeks now, but I told not to worry, but just in case they slide one by me where I can’t close to after 30 days etc. then your sources will be needed.
#6 by Mark Atkins at October 20th, 2009
Jason,
I set on a go to meeting call for dam near a 1-1/2 to only be pitched a fix-a-flip financing course for $2,000. Man, can somebody help investors get the financing they need to take these short sales and REOs down…We need 30/60/90 transactional funding! I’ll pay 20% of my profits for 30/60/90 transactional funding…Can so one help out the small investor and stop selling us more products. Man, tell us how to us the funding will work and let us submit our deals! I think you’ve been one of the more straight shooter and I think you’ve provided some real content to us…I hope whatever you’re going to roll out isn’t going to be more BS!
#7 by Johanne at October 21st, 2009
I tell you, you do sound like you know what you are talking about. Like all others though I still do know how to get funding for first time investors that have no money to make flips. You sound more upfront than the other get rich programs out there. I hope I can hear from you the truth on how to obtain money. ThankYou for some of your technique it might come in handy once I can get started.
#8 by VINCENT ASHLEY at October 22nd, 2009
EXCELLENT AND INFORMATIVE CAN’T WAIT TO SEE THE END PRODUCT ATTENDED WEB LOST POWER DUE TO STORM BUT GOT THE JEST GETTING GOING ON ORDERING ZACKS MATERIAL JASON KEEP IT COMING LOOKING FORWARD TO DOING SOME SERIOUS BUSINESS MIDWEST VINCENT
#9 by Don Holli at October 23rd, 2009
Hey Jason cant wait for the funding webinar to come live! Hey another idea how about start a affiliate program and pay a flat fee per funded deal or a one time higher fee to anyone that refers another investor? I was just thinking might bring more business your way and we all know that is a good thing!!!
#10 by DARRYL DEAN at October 24th, 2009
Mark Atkins,
You and I can Partner Up on REO and Short Sales deals. If you are interested, contact me through Twitter or my link above – or BOTH.
In the meantime, I suggest that you contact your local hard money lenders, or your own Credit Union, to fund your REO flips.
By the way, I suggest also that you go for REOs, because you can put them under contract within 2 or 3 days, or less, coupled with the fact that you will be buying properties that are FREE-and-CLEAR! Built-in EQUITY…
darryl
Austin, Texas
#11 by Cynthia at October 27th, 2009
Yes, I also was on a fix-a-flip webinar in which I thought would introduce us to 30/60/90 transactional funding as well. It turned out to be a sales pitch to some course. I totally agree with you Mark. Some of us want to go ahead and take action on some deals and we can not because we do not have the funding. I just want to be able to submit an REO deal and get things moving.
#12 by JR at October 30th, 2009
Where’s the replay? Searched high and low and under every cutline and found no- 30,60,90 funding webinar replay. Did I misunderstand the following email:
30-60-90 day CRITICAL ANNOUNCEMENT
Dear JR,
Just wanted to give you a heads up that I will be posting the replay for my “extended transactional funding” replay on the blog Friday afternoon.
Check it out here
http://www.backtobackclosingsmadeeasy.com
The Money Man
#13 by billy at November 2nd, 2009
Yo money man- awesome webinars and content.
I’m a seasoned investor; phone is ringing of the hook with some of these marketing strategies we’re using.
He challenge e are having, and I’m hoping you can help is…. the deal looks like it is a go until we pull out the options contract- the homeowners and or realtors(if the house is listed) want to run it by their atorney … bam deal dies. God dam attorney say it’s not in his clients best interest to this deal with us????
I have ZERO problems when I use a standard p/s but transactional lenders want the options contract signed…\
What can we do to address the issues with the realtors and legal beagles and get these DEALS signed and into the pipeline?
#14 by Marsha at November 2nd, 2009
Jason,
The information you gave us on the 30,60, 90 days call the other night was just fantastic. We have done a deal with you already and it went as smooth as glass. We have several in the pipeline coming your way but one problem we are having is that the bpo seem to be happening at least two times on each property. Is anyone else seeing this problem. Also, we need a lender in South Carolina that will fund our back to back closing for our C buyer. Thanks for all the help you have been giving.
I just wanted to throw this out to you . I heard there is a company that has cracked the code on the FHA flips and you have to sign a confidentiality agreement and pay some big bucks to learn their secret. Do you know anything about this?
#15 by Dean at November 3rd, 2009
Billy, the way I am setting my business up in this situation is that I explain to the homeowner and the realtor that I do not hand out blank contracts, instead I give them my Attorneys card and instruct them to have thier Attorney contact mine and he will fax a copy of our option contract and they can discuss it together. Takes me out and allows my Attorney to do what he does best with a fellow collegue.
PS. Jason…I still do not see the replay?
#16 by Tammy at November 5th, 2009
Hey Jason! Whats Up?
You’re content is awesome and I am so excited for you and all that you have done in the last year.
Still can’t find the replay of the 30-60-90 day transactional funding that you said you sent out!
Would you please resend it? Appreciate it!
Tammy
#17 by Pete at November 5th, 2009
Jason,
Great Content, Very Informative, I like the
active approach to ethics and transparency
in Real Estate Investing. Definitely better than
most out there!
#18 by Warren Christopher at November 9th, 2009
Jason,
my investor buddy and I had just been saying “I bet Jason is going to come with a solution to this obvious need in the market” and within a week, you did! I appreciate your candor on what can and can’t be done…that’s very refreshing and helpful. Keep up the good work!
WC