I know you probably see this type of discussion a lot from agents trying to break into the REO business, but I wanted to find out if there are other agents with A.) similar background and experience as mine AND B.) agents that have started at Ground Zero & ended up having great success.
I've MAINLY been a principal Real Estate Investor since 2003. I rec'd my RE license in 2006 mainly to have access to better due diligence/comp data to help me better screen the deals I was working on. When the market shifted, I went thru the s**tstorm like most of other RE pros and had to go thru some MAJOR changes.
To make a LONG story short, I started to use my license and broker deals for other people in 2007. A lot of deals I completed this way were NON-MLS (private sales etc). I advertised directly to potential buyers (as a Buyer's agent) and got some transactions done thru the MLS that way. Also, I have quite a bit of short sales under my belt as well.
The main issue I see for myself right now is that I have NO activity in the REO world. I mean, I worked as an REO agent/rep for other Investors and the REOs THEY bought thru MLS and other private sources. So, I have experience in dealing with distressed, vacant properties in that manner. PLUS, between my partner and I, we have located, secured, rehabbed, & disposed of over 200 distressed wholesale transactions since 2003.
I have the team, resources, and experience to deal with these types of transactions, BUT I have no TYPICAL REO agent paper trail to show these banks/servicers/asset mgrs that I know how to handle their assets.
So, based on that, do you think I have a fighting chance to work on this... or should I focus on other areas? Are there any of you in or HAVE BEEN in a similar situation as mine?
ANY insight, advice, or assistance will be GREATLY appreciated!
Rafael Carrasquillo, NAR, SEVRAR, ARMLS
Investor Agent
Real Estate Investment Specialist
rafael@highyieldinvestmentsite.com
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