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Friday, July 10, 2009

I Heart Peer Title.


I just wanted to write a quick post to reiterate the fact that my title company, (Peer Title), rocks.

Having to constantly deal with incompetence and laziness from listing agents, asset managers, and the bank's title companies, I can't tell you what a breath of fresh air it is to deal with a title company that doesn't suck.

I got an email from them this morning along with the preliminary HUD for the deal that I just got under contract (that isn't supposed to close until the 24th). The email said, "We are ready to close this deal whenever you are ready.."

They haven't even had the contract for 48 hours, and they are ready to close. God bless them.

I'm sure the bank's title company will do their very best to fuck everything up, but it's still nice to know that I have Peer on my side, ready to close the deal.

Amen to that.

If you're in the Tampa Bay area, and you need an investor-friendly title company, give Peer a call: 813.870.1614. I've been with them for almost 3 years, and have never once had them drop the ball. They ROCK.

And that's all I have to say about that.

10-4, over and out.

Have a great weekend, Blogosphere!

If you have any interest in securing private money to fund your real estate deals, set aside some time this weekend to watch Patrick and Trevor's free training videos. They are providing a TON of free, quality info, including a Q and A session that is almost 4 hours long, as well as the power point presentation that they use when approaching potential private lenders. Lots of good stuff in there...



Anonymous said...

Hey Steph,

Does Peer close deals anywhere in FL, or just the Tampa area?

Steph said...

Good question.

I would think they could close deals anywhere in FL.

I'll check with them on Monday and see..


ARodOfIron said...

About a week ago, I had a conversation with one of their attorneys (Chris, I think his name was), and he was very helpful in providing guidance on how to work the deal.

That's the one Lee recommended too, and the one I will use.

Steph said...

Hi Alex,

I really cant say enough good things about them.

Eric is probably the one you talked to. He's awesome.

Definitely use them for your deals. They will take good care of you.

Steph :)

ARodOfIron said...

Eric, ur right! ;)

ARodOfIron said...

Hey, I seem to think we're going through another one of those REO dry moments, because I am seeing VERY few listings out there.

Do you ever offer on short sales (listed on MLS)? They seem a waste of time to me, but who knows, may be another source of deals if they take a low offer.

Steph said...

I will offer on the ones where they have an approval from the lender (it usually says so in the listing). Otherwise, I don't bother.

I've only closed on one short sale/wholesale deal, and it was one of Lee's deals. Sweet deal, too.

I keep telling myself that I am going to start making offers on more short sale listings, but it just seems like a huge pain in the ass, so I never do.

ARodOfIron said...

Yeah, that's about what I thought. I wonder still if even if it says "approval", if they're open to negotiation.

For example, I'm being offered a house right now in Pasco to close on the 27th, but the price seems bit high for a good wholesale deal.

Steph said...

You can definitely negotiate.

A lot of the short sales on the mls are being negotiated by investors who are keeping the spread between what the bank says they will accept, and what they have it listed at, so there is room on a lot of them.

Make an offer that works for you, and see what happens.

Just keep in mind that there is a homeowner involved with these. I wouldn't put a short sale under contract unless I knew I could wholesale it, or unless I was planning on closing it myself.

These days, I don't mind jerking the banks around too much, because they do the same to me, but I certainly don't want to be messing with a homeowner who is about to lose their home to FC. Ya know?

I read a post on one of the REI forums yday where a guy has a short sale under contract that is about to go to auction in a few weeks. The deal sucks, and he is going to end up tying up the property and screwing the homeowner over, and he doesn't really seem to give a crap.

This bothers me.

Anonymous said...

Hi Steph,

Have you ever considered hiring a transaction cordinator to help with your deals? Since you have alto going on it might help free some of time and pass the hasel to someone else. Just curious... I've heard you can hire one about 300 bucks and they don't get paid unless it closes. What is your thoughts?


Steph said...

Hi Hugh,

It really doesn't take up that much of my time to make the calls and send the emails to check up on people. It's just irritating that I have to do it.

Also, I've found that when I put my deal into anyone elses hands and assume that they are going to take care of things, it never ends up happening.

The realtors on these transactions do not get paid if the deals don't close, yet most of them are lazy asses and don't do squat to ensure that the deal gets to closing. It's almost like they don't want to get paid or something.


ARodOfIron said...

Great thoughts on the short sale thing, Steph. It's something you may be prone to overlook, being that there are so many cooks in the kitchen (wholesaler, end buyer, investor, realtor... and homeowner!). Bidding on something with such a short timeframe could be very risky.