Internet Marketing and Real Estate Investing Club

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Antwan Stevens
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  • San Diego, CA
  • United States
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Location
San Diego,Ca.
How Long Investing
Rookie
Website:
http://www.freerealestatenetworking.ning.com
I'm a Virtual Wholesaler/Coast to Coast Property Locator/Serial Entrepreneur/Match Maker

What is a Wholesaler?

Wholesaling is finding bargain below market value properties, putting them under contract, and then immediately reselling them at a higher price to bargain hunters. It's a "cash-now" strategy as opposed to "cash-later" real estate strategies.

I'm also involved in Short Sales which is a "cash-later" strategy

How does Antwan find Short Sales?

Why Should Agents want To Partner with Antwan?

I get this question all the time – what's in it for Antwan's partner the real estate agent?

For the average agent, doing short sales is one huge, hairy pain in the behind. All too often, they do the work and get punked at the end. Either the deal falls through, the buyer they had lined up gets bored waiting and bails out, or the bank or lender simply doesn't want to play ball – or tries to cut the agent's commission down to the bare bones.

By working with Antwan, much of the risk just mentioned is eliminated. Plus – and this is a biggie: When the sale goes through – the agent gets paid their commission on the FULL SALES PRICE, and not some discounted rate.

Simply put, they'll do business with Antwan because it puts money in their pockets.

How does Antwan purchase and resell properties that are Short Sales without using any of his money and or credit?

Is this the same as Simultaneous Closings?


No. In a Simultaneous Closing the investor buyer (party “b”) never utilizes their own funds to buy from the seller. Instead they use the end buyer’s (party “c”) funds to buy from the original seller (party “a”).

Back in the Good Old Days…
For years, real estate entrepreneurs enjoyed the benefits of simultaneous closings, where investor “B” had a “quick flip” deal of some sort, and could simply close both transactions (A-to-B and B-to-C) back-to-back with “C’s” money flowing through to fund the entire transaction. (i.e. a “dry closing”)

This was great because investor “B” didn’t have to bring any funds to the table, but he still got paid his share in the middle! Everybody wins!

But Now We Have a New Problem…
While this practice is not illegal, due to intense scrutiny from State and Federal regulators title companies are no longer allowing simultaneous closings. They’re now requiring that the first closing “stand alone” with Investor “B” bringing their own funds to the closing table. (i.e. a “wet” closing”)

What is the purpose of using Double Escrows?


As investors, utilizing our own funds, we profit in short sale deals by buying from a seller at a discount approved via short sale and immediately reselling to an end buyer. Utilizing two separate escrow transactions keeps it all legal (i.e. ab-bc transaction). In a Double Escrow, funds are actually utilized to buy the property from the seller in the “a-b transaction” and then the end buyer will either buy from us with cash or with a loan in the “b-c transaction”.


So what do you do if you have a great flip deal, but don’t have the cash to close?

Here’s my solution…

I have quick, easy access to “transactional funding” to get my A-to-B deal funded, which gets my deals closed so I can get my check. This is essentially a 1 day bridge loan that facilitates your A-to-B transaction, allowing you to once again simultaneously close to your end buyer.

And yes, Antwan will provide the proof of funds that banks and others will be demanding before the transaction can be successfully closed.

Remember, one of the reasons agents will flock to Antwan is because they know a buyer must be lined up before a short sale offer can be presented to the bank. But all too often, no credible buyer is willing to wait the several months it's going to take to finalize the negotiations.

But since Antwan is the buyer, the agent just has to find a client eager to cash in on a fantastic 30 day quick sale opportunity. And knowing once they do, it's not gonna fall through at the last moment due to lack of financing because Antwan can proof up and have an offer within 24-48hrs. on all Short Sale Deals that fit within his buying criteria.

Another bonus for Real Estate Agents partnering with Antwan is he has relationships with Short Sale negotiators

Please keep in mind Real estate agents unwilling to relinquish responsibilities outside of his/her job proficiency are not upholding to their fiduciary responsibility to the client.


Increase your success rate by having your deals
handled by former loss mitigators.

Leverage your efforts by not wasting time with
waiting on hold, refaxing packets, etc.

Focus on building your business, finding more
deals and cashing in on existing ones.

Receive larger debt discounts by allowing Antwan's
experienced team to negotiate the debt.


Thank you for taking the time to learn about me and how we can help each other I look forward to working with you sooner than later.

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At 9:12pm on April 02, 2010, Faye Wilson gave Antwan Stevens a gift
God Bless you and make it a great weekend!
 
 

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