Well this is my first post here, but I hope to be posting here again soon with my first deal story! So far I've put together my 800 number, recorded my foreclosure message, done web-prospecting for brokers & agents and I'm about to email blast them all to find my partners!
Anyway I spoke with a broker who was recommended by a friend, told him a bit about what i'm looking to do, and asked if he'd be able to shop different banks if I found someone that wouldn't get approved with the banks he normally used due to them not meeting certain criteria as mentioned in Dean's book (ie self-employed, low-mid 600 credit, etc). He said that because of the new government loan guidelines the ability for brokers to shop banks has been pretty much eliminated since everyone has to play by the same rules now. He said it was very different a year ago, but now that's the way it is. I asked if there are still loans that aren't govt backed, but he said that all the loans are now govt backed. I'm currently looking for people in the Long Island, NY region.
Should I ignore what he says and keep searching? Is what he's saying true? Any information on this would be much appreciated.
Also, if anyone has had any experience with DG techniques in the Long Island area i'd love to hear what kind of results you've achieved. I know Dean says this methods will work anywhere, but I am skeptical since house prices here are rediculous!! Thanks in advance for your help!