Funding for Back to Back Closes – Don’t Believe all the Hype on the Internet!
Posted on 15. Oct, 2009 by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate
(No Ratings Yet)Before you jump into the latest “Guru selling a REO or short sale funding program” do your research because it might not be all it is cracked up to be! Listen in as I talk about the “new” back to back funding that is the entire buzz on the internet and what to watch out for in the coming weeks. I also cover which loans the $1500 short sale credit that sellers are going to get from the government will cover, what’s the best approach to discounting a mixed-use commercial property, whether or not the option contract legal, If there is a way to do a short sale when a pre-foreclosure property owner skips town and cannot be found and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.
myles
16. Oct, 2009
Great coffee as always. Strong an packed full of energy. Everyone’s pushing fix a flip funding.I can’t wait to here what you have to say about it. they will fund even up to 90 days on a sliding interest scale. Something about deeding the property over to them if you can’t sell it. Could there be complications?
greg
16. Oct, 2009
can we get this in audio only. as the audio quality suffers alot in combination with the vidio and is too choppy to understand. you have to listen many times to piece it together.
greg
16. Oct, 2009
thanks for all your hard work.
Mark Atkins
16. Oct, 2009
I agree completely with you! It’s amazing how all these so-called gurus send out the same ad copy or similar ads that tell you to go to meeting…It’s all a sales pitch for another one of their $2,000 products, but if you order right now using their special code they’ll cut the price in half and give $100,000 in free bonuses…Blah, Blah, Blah! The lastest program now is they want to make you buy yet another program to learn the correct way to use 30/60/90 funding which investors need in order to sell properties with BOA’s BS 30-day seasoning rule and FHA’s 90-day BS seasoning rule. These seasoning requirements are BS and shouldn’t apply in short sale distressed selling situations. One day the idoits that come up with these stupid ass rules will see the error in the ways and how it slows down or stops good real estate transactions. I haven’t found anyone out there that really wants to help distressed sellers or investors; however, I do enjoy your candor. I look forward to your “Friday Coffee Breaks”…Have a great day!!!
Tara
17. Oct, 2009
Suggestion: ditch recording in Star Bucks. The background noise competes with the audio and backlighting causes subject to be washed out (however, this could be alleviated by video settings).
You offer a lot of valuable info, but needs to be in another setting.
matt
19. Oct, 2009
Pat,
I presume you’re talking about Aegis Funding, rolled out by Nathan Jurewicz and Chris McLaughlin. The Aegis solution purports to offer up to 90+ day JV equity funding.
If in fact you are speaking about the Aegis solution…which has been marketed heavily over the past 2 weeks…I, like many others, are interested in hearing your take on this, particularly if it is not what it purports to be.
Thanks, Matt.
GloriaB
21. Oct, 2009
Hey Pat,
You’re one of the very few REGuys that isn’t trying to push another “you gotta have this to do deals” product!!! This sure says a lot for YOUR Credibility!
Thanks for all the information you so generously give out. Also, I’m surprised at times about the various complaints from other “responders”. Even in this fast-paced world, when you’re given a gift, the best response is still a sincere thank you.
Thanks so much for being a “giver” in a business where there are so many “takers”. I’m looking forward to our next coffee break!! Keep up the good work Pat, you’re a real winner in my book!
Lyn W
23. Oct, 2009
Pat/Bob, please don’t listen to TARA above about ditching Starbucks. Geeezzz people! Starbucks location is great, the buzz around Pat just adds to the energy! Don’t move – it’s a COFFEE BREAK, get it!! You guys are T-H-E Best – thanks for all the info.
Juan in Cai
23. Oct, 2009
Good stuff. Comment: as a commercial lender, and I can see the need for funding of 30-60-90 days funds for the flips — will someone step up to the plate, just train us on the process and the paperwork and provide the funds so we can flip and make money WITHOUT charging so damn much on sign up fees. The greed factor is on way too much now — lest just get down to business and fund these deals