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pbrymer
80 Posts |
 Posted - 08/27/2008 : 10:11:49 AM
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| looking for direct contact with someone who has access to sell 1 billion in bulk reo, big investor, has 1.5 billion in hedge funds verifiable.... please respond to post.... open to commercial, residential.... let me know what you have avail.... must be around 50 cents to a dollar.... |
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dramsey
41 Posts |
Posted - 08/28/2008 : 11:36:57 AM
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| I can do this but I need more information. My seller's are interested and can handle that volume. |
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KHufford
5940 Posts |
Posted - 08/28/2008 : 11:56:04 AM
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A hedge fund manager is going to spend 70% of their investors money on real estate?
Sorry, but any fund with 1.5B has their own contacts for bulk sales from bank CEO's...they don't need a mortgage broker.
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dkendall1979
10147 Posts |
Posted - 08/28/2008 : 12:08:23 PM
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I don't throw mud or make personal insults, so take what I say as advice.
You spoke to someone who said to you, "I have a big investor, he has 1.5 billion in hedge funds verifiable" and you took it at face value.
You haven't verified this with any banking authority, but you beleive what this person is telling you.
Take my word for it, the guy that is telling you this is lying to you.
Save your time. It's all we have in this life. Move on.
quote:
Originally posted by pbrymer
looking for direct contact with someone who has access to sell 1 billion in bulk reo, big investor, has 1.5 billion in hedge funds verifiable.... please respond to post.... open to commercial, residential.... let me know what you have avail.... must be around 50 cents to a dollar....
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pbrymer
80 Posts |
Posted - 08/28/2008 : 12:23:09 PM
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| updated info, got more info on these clients, let me explain further, i am teaming up with someone i work with, so info initially was shady, details and info is sounding more legit... his cousin works at a hedge fund doing something, his boss, has the money, not the hedge funds, he works at a hedge fund, but has the 1.5 billion in his possession personal assets for a bulk reo purchase.... (another deal, 5 billion 3 buyers) one of my bosses is friends with another hedge fund guy who is super loaded who also wants bulk reo.... all the hedge fund guys know each other, go figure.... anyways, they all have a hard on for reo cheap, like 50% or less of current value... stock and bond markets are CRAP and they are going long term because they are still somewhat young.... under 50.... lol.... either way i apologize for the wacky first post after re-reading it i realized i must have just been in a dazy yesterday, deal starting to soud more legit to me on my side.... meeting with the big bucks within a week, so if if lands on the hele-pad above my office, i will let you know ya its legit..... in the mean time, if you do have bulk reo 1 billion plus let me know please, should have the soft loi, by tomorrow for a couple direct sellers to run through to piece together a bulk deal for buy to look at.... i thought it was b.s. too but the more info i got the more legit it sounded, i was just excited, rambling....... |
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dkendall1979
10147 Posts |
Posted - 08/28/2008 : 12:35:55 PM
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Ask them to sign an exclusive right to represent commitment with you.
If they won't sign this, they didn't plan on paying you anyway.
Get on the phone with the driver only, it's useless dealing with cronies passing on information.
If you don't have business being the lead broker on the deal, then remove yourself. |
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pbrymer
80 Posts |
Posted - 08/28/2008 : 12:56:16 PM
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| buyer said he has no problem signing exclusive rights commitment... he was ok with a 50 cents on a dollar and paying 1 point, on 1 billion... dave if you have anyone let me know i am not really contacting sellers until i have the loi, my partner saw the pof, the guy has the money... if i get the right contact i could possible get them both done...1b-residential and 5b-res/com. fingers crossed... maybe its a pipe dream but hey, its a dream! |
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dkendall1979
10147 Posts |
Posted - 08/28/2008 : 1:04:32 PM
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| Get it signed and call me or email me. |
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dramsey
41 Posts |
Posted - 08/28/2008 : 1:31:08 PM
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I'm working on similar transactions that started the same way. Formal ROI processes take time and some buyers want to move faster then that. They use other channels just like this particular deal is doing.
Again, I need more information before my side or any seller will do much at this point. Most sellers will not just put together a package for someone without more information and some formality. They will definitely want to know some more details on the buyer and their qualifications.
Mine actually require Proof of Funds as well as signed MSA's and usually a Non Circumvention, None Disclosure for all parties to sign- however not at this point. That's the next step. The LOI will suffice at this point.
I'll also need to know some specific information on what the buyer wants in their package. That consists of things like the number of units to overall package cost, property types, commerical or residential, geographic locations, unit cost, segmentation or volume of units within sectors, whether they want income producing units/turn key rentals, fix and flips- and the degree of repair work requried. Without knowing what exactly the buyer wants, a seller can't put a package together for them.
So, the next step is to get me the LOI when you have it and to get me some of this information I noted above so the seller can look at it. The process happens very quickly from there once the buyer knows what they want, provides the required documentation, we figure out all the parties and commission structures and get the correct documents signed. The seller can get a package together in about 7-10 days depending on the buyer requirements. From there, it's up to the buyer and their due dilligence process that determines the timelines. It can happen very quick if everything is up to snuff and done right and the buyer know's what they're doing.
So, yes those anxious nervous of yours might be validated if you can provide some more info. |
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pbrymer
80 Posts |
Posted - 08/28/2008 : 1:44:25 PM
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| i know, loi is being written up, it will just be a "soft" loi, buyers are open to different deals depending on the deal. Biggest key is buyer will not do the deal if they can not talk directly to seller, he basically has been pushed away in the past from firms or brokers, chaining the reo deal, he doesnt want that, first question buyer will ask are you seller?? if no, conversation ends and thats it... so i am putting ducks in a row... also loi, will have nothing attached to my buyers, just there wants, if you fulfill needs, they fulfill or sellers wants, and the deal gets closed... |
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dramsey
41 Posts |
Posted - 08/28/2008 : 1:55:39 PM
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That's always the tricky part- getting everyone on the same page and usually the same call. However, the only way to get the decision makers on the call for either side is to make sure the call is worth their time respectively. To do that, both sides need information and the assurance that the other side is committed. That's where the scuttlework just like this comes in. We evaluate the information to make sure the decision makers aren't wasting their time.
The LOI goes a long way to getting a seller- and their decision maker, involved as long as it's comprehensive and addresses their concerns about the buyer and their needs/wants. From there it's possible to get the decision makers together. But neither side will usually take the first step unless it's warranted. |
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dramsey
41 Posts |
Posted - 08/28/2008 : 3:15:14 PM
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I've worked it out now and confirmed that I can get the seller's Magnate (authorized decision maker)- on a conference call as long as the buyer's authorized decision maker is there as well. No signatures or forms are needed until both sides decide to move forward on the call.
So, once the LOI is available let me know and we can get a call scheduled as soon as next week if everyone can accomodate. |
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dkendall1979
10147 Posts |
Posted - 08/28/2008 : 3:34:40 PM
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Magnate, huh?
Atta boy! Go get em tiger!
quote:
Originally posted by dramsey
I've worked it out now and confirmed that I can get the seller's Magnate (authorized decision maker)- on a conference call as long as the buyer's authorized decision maker is there as well. No signatures or forms are needed until both sides decide to move forward on the call.
So, once the LOI is available let me know and we can get a call scheduled as soon as next week if everyone can accomodate.
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dramsey
41 Posts |
Posted - 08/28/2008 : 3:50:37 PM
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| I want a title like that too. Especially if I can capitalize it :) |
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toddblue
2397 Posts |
Posted - 08/28/2008 : 4:12:36 PM
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quote:
Originally posted by dramsey
I want a title like that too. Especially if I can capitalize it :)
I have nowhere near the expertise to get into a billion dollar deal like this. But, I like that title! I'm taking it!
Eat dirt all of you Senior LO's! I'm a magnate! |
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pbrymer
80 Posts |
Posted - 08/28/2008 : 4:34:59 PM
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Magnate, from the Late Latin magnas, a great man, itself from Latin magnus 'great', designates a noble or other man in a high social position, by birth, wealth or other qualities. In reference to the Middle Ages, the term is often used to distinguish higher territorial landowners and warlords such as counts, earls, dukes and territorial-princes, from the baronage.
The term was specifically applied to the members (equivalent to British Peers) of the Upper House in the Apostolic Kingdom of Hungary, the F#337;rendiház or House of Magnates.
Magnates were a social class of wealthy and influential nobility in the Kingdom of Poland and Grand Duchy of Lithuania (and later the Polish-Lithuanian Commonwealth), and some other medieval realms. In Spain, since late Middle Ages there is the highest class of nobility who hold appellation of Grandee of Spain. In Sweden, wealthiest medieval lords were known as storman (plural stormän), "great men", a similar description as magnate, and same meaning. In England, the term magnate has often been applied to the extremely powerful nobles that Edward III created when he split his kingdom amongst his sons rather than choosing one son to inherit the entire kingdom. The ensuing conflict between these powerful nobles (and their successors) and whomever was king led to the aristocratic wars known as the War of the Roses.
In the Middle Ages a bishop sometimes held territory as a magnate, collecting the revenue of the manors and the associated knights' fees.[citation needed] |
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toddblue
2397 Posts |
Posted - 08/28/2008 : 4:47:26 PM
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quote:
Originally posted by pbrymer
Magnate, from the Late Latin magnas, a great man, itself from Latin magnus 'great', designates a noble or other man in a high social position, by birth, wealth or other qualities. In reference to the Middle Ages, the term is often used to distinguish higher territorial landowners and warlords such as counts, earls, dukes and territorial-princes, from the baronage.
The term was specifically applied to the members (equivalent to British Peers) of the Upper House in the Apostolic Kingdom of Hungary, the F#337;rendiház or House of Magnates.
Magnates were a social class of wealthy and influential nobility in the Kingdom of Poland and Grand Duchy of Lithuania (and later the Polish-Lithuanian Commonwealth), and some other medieval realms. In Spain, since late Middle Ages there is the highest class of nobility who hold appellation of Grandee of Spain. In Sweden, wealthiest medieval lords were known as storman (plural stormän), "great men", a similar description as magnate, and same meaning. In England, the term magnate has often been applied to the extremely powerful nobles that Edward III created when he split his kingdom amongst his sons rather than choosing one son to inherit the entire kingdom. The ensuing conflict between these powerful nobles (and their successors) and whomever was king led to the aristocratic wars known as the War of the Roses.
In the Middle Ages a bishop sometimes held territory as a magnate, collecting the revenue of the manors and the associated knights' fees.[citation needed]
I just think it sounds good. Magnate! Makes me feel like Thurston Howell III. |
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dkendall1979
10147 Posts |
Posted - 08/28/2008 : 4:51:57 PM
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| I'm still trying to piece together why the seller would have his very own Magnate? |
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toddblue
2397 Posts |
Posted - 08/28/2008 : 4:57:46 PM
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quote:
Originally posted by dkendall1979
I'm still trying to piece together why the seller would have his very own Magnate?
To keep his kids drawings on the fridge? |
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pbrymer
80 Posts |
Posted - 08/28/2008 : 5:02:28 PM
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hahahaha......lol...... so funny
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bestbet123
1577 Posts |
Posted - 08/28/2008 : 7:37:19 PM
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| This post was very entertaining to say the least,I may have even learned something from it.I too will be a Magnate someday. |
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peteme
45 Posts |
Posted - 09/06/2008 : 10:25:14 AM
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can do this 517-580-3134
peter_tucker@comcast.net |
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Coffee Is 4 Clos
1634 Posts |
Posted - 09/06/2008 : 10:50:12 AM
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| Hell- I've been a Chick Magnate for years! |
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celloshred
1846 Posts |
Posted - 09/12/2008 : 4:26:20 PM
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| Who here has a serious source of the $ for this stuff? I mean $1.5b+? |
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dramsey
41 Posts |
Posted - 09/12/2008 : 4:36:55 PM
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I do. Like everything in sales, it's who you know, and the next level being how do you identify the people who have what you need and want. Then it's how can you get people in touch with each other through you. The knowledge is part of it, and the execution is the other, and harder part. We all know successful agent and builders for example, but how you get them to work with you is always the hardest part.
I have $110 million in front of buyers right now and another $76 million package expected next week. It can be done.
quote:
Originally posted by celloshred
Who here has a serious source of the $ for this stuff? I mean $1.5b+?
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