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#444767 - 04/02/15 10:48 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II ***** [Re: LendSome]
CALIF DREAMING Offline
Veteran Member

Registered: 08/01/06
Posts: 1304
Loc: Downey, California
Is an NMLS license required to solicit hard money loans?
_________________________
"People rarely succeed unless they have fun in what they are doing"....Dale Carnegie

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#444768 - 04/02/15 11:34 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II [Re: Gulf Winds]
Broken-Monkey Offline
Member

Registered: 07/17/10
Posts: 99
Loc: United States

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#445538 - 05/15/15 10:30 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II [Re: Gulf Winds]
Angel4132 Offline
Junior Member

Registered: 05/15/15
Posts: 3
Loc: Florida
New to this forum. Need help..... i'm doing a bpo for an AM and the found 2 closed comps in the same bldg within the last 2 months with the same sq.ft however one sold for 900k and the other for 600k. Is that too much of a price swing to use as a comp? should I go to another building and find something more similar in price range? I would appreciate help from an experienced bpo realtor. Thx

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#445539 - 05/15/15 10:54 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II [Re: Angel4132]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1795
Loc: Missouri
Can you account for the difference in sales price? Was one in poor condition or a "motivated" seller or maybe all furnishings were included in the higher sale? If you need both as comps, you might give the buyers' agents a short phone call.
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REO listing/selling since 2004; BPOs only for current clients

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#445541 - 05/15/15 11:12 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II [Re: LizL]
Angel4132 Offline
Junior Member

Registered: 05/15/15
Posts: 3
Loc: Florida
Yes I spoke to the agent of the lower priced listing and she said the owner just wanted out but the unit was in good condition. Should I just go to a different building and find another comp? I believe the value of my subject should be closer to the 900k range.
thank you.

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#455175 - 10/27/16 08:43 AM Re: Pay it Forward... Tips & Tricks [Re: N_Fla_Realtor]
TheBPOExpert Offline
Member

Registered: 01/22/12
Posts: 114
Loc: Georgia
Don't listen to negative talk about getting into bpos. Just keep signing up with more and more companies. Once signed up call in and ask for orders and you'll be surprised how many you can get.
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“You will get all you want in life, if you help enough other people get what they want.” -Zig Ziglar




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#461358 - 05/03/18 03:21 AM Re: Pay it Forward... Tips & Tricks [Re: Gulf Winds]
kirastan Offline
Member

Registered: 04/14/18
Posts: 31
Loc: United States
Wow, the tricks are really useful! Thanks guys for sharing this smile
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#463137 - 12/20/18 04:35 PM Re: Pay it Forward... Tips & Tricks [Re: Gulf Winds]
TheMotorCityDon Offline
Member

Registered: 01/25/08
Posts: 119
Loc: Detroit, MI
2018 heading into 2019... and we're still going baby...

Tip #????

When signing up for RESnet Pro or Agent Elite on Equator, call and ask if there are any "promotions" at the moment if you sign up... theyll offer you a discount!

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#463138 - 12/21/18 01:47 AM Re: Pay it Forward... Tips & Tricks [Re: TheMotorCityDon]
TheTexasGal Offline
Veteran Member

Registered: 06/13/06
Posts: 1438
Loc: ^
Originally Posted By: TheMotorCityDon
2018 heading into 2019... and we're still going baby...

Tip #????

When signing up for RESnet Pro or Agent Elite on Equator, call and ask if there are any "promotions" at the moment if you sign up... theyll offer you a discount!


Thanks for the tip and resurrecting this thread!

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#463165 - 12/26/18 09:54 AM Re: Pay it Forward... Tips & Tricks [Re: Gulf Winds]
TheMotorCityDon Offline
Member

Registered: 01/25/08
Posts: 119
Loc: Detroit, MI
Anytime TexasGal! Hopefully it picks up!!

Here is another tip:

Try to complete any tasks you have either same day or within 24 hours the latest. I have picked up extra business just by completing my tasks quickly.

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#463385 - 01/23/19 03:50 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II [Re: Gulf Winds]
Grant Yasrebi Offline
Junior Member

Registered: 01/23/19
Posts: 1
Loc: San Francisco, CA
Founder of Caproi [1] here. If you're looking to find investment properties with high cap rate we've made a tool to do just that. No more spreadsheets and complicated formulas. See the same listings as MLS but with a cap rate based on rental comps and airbnb comps. Listings are as up-to-date as MLS.

[1] https://caproi.com https://caproi.com

[img:center]https://caproi.com/img/screenshots/posted_agentsonline.png[/img]

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#463387 - 01/23/19 06:59 AM Re: Pay it Forward - BPO/REO Tips & Tricks I & II [Re: Grant Yasrebi]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 334
Loc: New Hampshire
Originally Posted By: Grant Yasrebi
Founder of Caproi [1] here. If you're looking to find investment properties with high cap rate we've made a tool to do just that. No more spreadsheets and complicated formulas. See the same listings as MLS but with a cap rate based on rental comps and airbnb comps. Listings are as up-to-date as MLS.

Hi Grant -- Welcome to the site! An admin may be along to remove your URL's, but I went and looked while they were up.

It looks like you built a tool for residential. Any plans to add commercial?

I have found cap rates to be very unreliable for single-family properties up to 4-units. But, I have only worked in a few states.

If anyone uses an income approach to value for these properties rather than just checking for positive pre-tax cash flow, my experience has been that they use a gross rent multiplier. Generally, GRM's better reflect the market than do caps because of the out-sized effect vacancy and operating expenses have on net operating income for single-family or small multi-family properties.

You clearly have better data than I do. Are buyer's using caps now for residential?

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