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What I REALLY got in the business for....

By
Real Estate Broker/Owner with Jet Realty 23609

Back in the early 90s my wife and I started buying homes, fixing them up, and selling them for a profit.  We were definitely not the first ones out there doing this type of thing, but we were doing it before "Flip this House" was on TV! 

I was working in the Computer Resale world at the time and pretty much was bored to tears; then my wife says to me one day, if you could do anything in this world for work, what would you do?  My first response was Real Estate.  I loved what we were doing as a side job fixing up homes and I knew it was a different world on the other side of the fence, so to speak.  So I get my real estate license and I am helping people buy and sell real estate which is fun and I am a bit helpful every once in a while.

Circa 2009 and I have been trying to avoid the "short sales" in the market like the plague for the last 2 years.  Finally my brokers recommend a class for a CDPE (Certified Distressed Property Expert) designation and somewhere a light bulb goes on that this is where I can really help people and have a direct effect on my local market.

Recently I have a listing appointment for a short sale and it goes something like this:  A husband and wife have 4 children; their daughter who was 7 at the time contracts cancer and has to go on chemotherapy.  The mother has to quit her full time job to take care of their sick daughter.  A few months later the husband is laid off from work.  The medical bills pile up, they cannot afford to pay their taxes and insurance and boom, we have family who has a legitimate hardship and needs help.

A previous client of mine hears about this situation and let's the wife know about me and we talk on the phone and discuss her situation.  She has already been in negotiations with her bank for forbearance and or a loan modification which I explain to her is great.  Hopefully they can get it and be able to stay in their home which is their first wish.  But, it was a help to her to know that if she cannot get what she needs from the bank, we can list and sell the property in a short sale and protect their credit and their future.

Now I know that I am no Firefighter or Policeman who put their lives on the line everyday to save lives, but does allow me to help people in a very important way in the profession I was born to do.  I realize, this is what I REALLY got in the business for. 

 

 

 

Satar Naghshineh
Satar - Amiri Property and Financial Services Corp. - Irvine, CA

I'm suprised you didn't learn short sales in the early 90's. You could have flipped them then and now.

Anyway, the foreberance agreement might be a waste of time. Although the husband lost his job, maybe his job alone cannot float the mortgage payments should he find new work. I will have to see the numbers and more info to see if a loan mod might work or not. Even a short sale to make the payments lower might not work.

Their best bet might be a short sale in such a manner where they can legally profit from it and use that money to find a less expensive rental until they can recoup.

The best part of our jobs is to see the outcome of our work. I love helping people and I get paid to do so.

Good Luck. I wish them well.

Jun 19, 2009 12:27 PM