GETTING YOUR YEAR OFF TO A FAST START SCOTT CARSON
While most investors are sitting on their hind end
previous NO can often become a “YES” or “what
waiting for the year to end, most banks are looking
will you give me.” More importantly, by following up
to get their toxic assets off of their books before
now, you guarantee yourself a foot in the door the
January 1st. You can really find some great deals
following quarter, or year, when they start to move
because banks are dropping price expectations
notes or assets (one off’s or pools). Being in the
and will often give great discounts if you can close
right place and at the right time is half the battle.
before December 31st.
Add in the fact that you
get your foot in the door with banks for deals next
year
and
you
have
a
perfect
storm
TALK WITH YOUR TEAM
of
deals…building a relationship for deal sources with
If your first question is, who is my team, then that’s
little competition. If only that was the case year
the first reason why you aren’t successful or where
round with every type of investment opportunity!
you want to be.
Every successful real estate
investor has a team behind them that is usually an
So what should you do to get things rocking no w
instead of later? Here is what I recommend note
investors do.
expert in their field. Every investor should have at
least one agent that is an expert at short sales and
REO’s along with being an outside the box thinker.
Having a commercial realtor or CCIM, is important
REACH OUT TO BANKS
as well if your focus is in commercial real estate.
You should also have a great title and escrow
If you’ve ever called and made contacts with asset
company that can check title and do quick updates
and secondary marketing managers throughout the
along with helping you get things closed. A real
year, then you should follow up with everyone
estate attorney is important as well to make sure
you’ve spoken with.
Banks have a tendency to
your “assets” are taken care of, along with helping
change their mind on note sales, especially as
you get documents and paperwork done where
their portfolio of bad loans have increased and a
your title company can’t.