Posted by Ed Garcia on December 08, 2000 at 09:53:52:
Cork,
Hard money on REO’s, QRR’s, ABC’s, it makes no difference. Hard Money is Hard Money, and is done at 65% LTV.
If you have a deal that fits that LTV then call me, you can’t find enough deals to run me out of money. I can find enough money, to refinance all of San Bernardino.
Your Separate topic: Cork, I’ve noticed that at each workshop, the participants take it upon their selves to exchange names and phone numbers. They do this for the benefit of Networking and exchanging knowledge. To tell you the truth, I think it’s great. This year I believe Akbar from San Francisco coordinated that exchange. If you care to call me, I would be happy to give you Akbars phone number, and you can call him to see if he will send you a copy of his list.
Posted by Cork Horner on December 07, 2000 at 18:34:25:
HELLO ED and other reo guru’s
Who has experience getting hard money firsts and hard money seconds [ equity loans?] to purchase REO’s 100% at the banks appraisal? The bank does not want to reopen mortgages on the property. As you know, the north end of ‘berdoo’ is a reawakening market in SoCal and the banks are holding tougher than recently on selling prices.
Separate topic: what all you Lender Workshop afficionados doing lately?
I agree with Ed. Our group will even push the ltv a little. But if your buying an reo from the bank for cash be sure to push for a “short sale” you won’t get one every time but I can show you deals I’ve done that you wouldn’t believe without actually seeing the HUD-1’s