Outdated Lenders And Properties
I am new to the website but have spent alot of hours reading and writing here since I've joined. Problem, You have way to many lenders and properties for sale that are very outdated. I have contacted about 4 of the lenders on your site that advertise investment loans at great rates and terms. 1 was a incorrect email address and the other 3 did not return my emails or calls. and there are properties listed for sale and they have long been sold. Can you please find a way to stop wasting my time calling and writing people who are not interested in my buisness. Im sure there are some people listed on this site that are still interested , but I dont have the time to go down a list of 20-30 people and email all of them until I find one. other than that so far your website is awesome. keep up the good work but lets make it even better by cleaning it up. PS I am currently on a rookie subscription and am thinking about upgrading so help give me a reason why I should. Dan
I second the comments about the lenders. I tried contacting a few of them...nothing.
That is why we have the lender programs and properties sorted by when they were last updated.
that doesnt really help. so your basically saying that if the last time they updated was a year ago they probably are not interested in my buisness anymore? somebody a year ago may have the same loan programs today therefore may see no need to update it. again I dont know that, I have to email everyone until I find one who is still there. You really should have your advertised lenders and properties only posted for a certain period of time and if they dont update it after that time it should be deleted. easy solution I think. oh and just to let you know, one of the lenders updated 5-10-04 and they still have not returned my email. [ Edited by dlitedan on Date 05/10/2004 ]
They update it for the APR.
I agree with Joel. I have contacted numerous people regarding properties and haven't received any phone calls. I never said anything. I just assumed that they had too much business to contact me. It shouldn't be left up to the investor to assume that the property is no longer available. I usually call people two or thee times. Still no answer. I think that the property should be listed for a certain period. One week at least. After that time it should be deleted automatically. The poster should know that when he/she enters the opportunity what the expiration date is going to be. He/She will have the opportunity to renew the opportunity 24 hours before it is deleted.
This should keep all of the opportunities fresh for everyone.
I too have received great advice as a newbie. No deal as of yet but I'm still searching. I visit this site every single day and have no other complaints but I do agree with Joel the properties staying long after they have received a buyer.
Toska Palmer
sounds like the lenders section needs updating and editing to ensure the folks listed there are fresh and actually want business.
the people have spoken, fix it please. and to voluminous..thanks for the back up, but your agreeing with dlitedan, not joel. joel thinks the set up of lenders and properties is fine.
I'll add my 2 cents....
Whether or not someone returns a call has nothing to do with this site. It has to do with the people you're calling.
I too have had no response from certain lenders I tried to reach. BUT, I also found a great one on this site.
So, I guess it's kind of like finding a "deal" -- just keep at it until you find one that works for you. And if you can't find them here, so what. Just find them somewhere else.
yes I do agree with that. I kept looking and found a good one(not on this site but on the internet). But...and you knew there was a but coming...I used to search and call all kinds of lenders until I found a good one(I have even sat down on saturdays with the vice presidents of banks to ask for a loan). that was before I joined this website. this website has made investing easier with all the information they and the members provide. but in the case of getting a good lender they have not made this part of investing any easier, its just as hard to find a lender now as it was before I joined. again, I have found a good lender and no longer need one, but they need to fix there lender problem to be a really great site. I think you would agree lending is a pretty important part of investing(excluding all the people who have a cash tree growing in there back yard).
I just took another look around my yard, and dang it – no cash trees! : )
And you’re right about finding a good lender you can work with, it’s crucial.
My problem lately has been with title and escrow. How about a title agent telling your seller they’re getting totally screwed, and so the seller refuses to sign papers. Or, arbitrarily changing the amount of the Option Money down. I’m serious -- but that’s another story.
I too have had problems with properties that are listed as available, but the poster has since left the site (last post was Aug of last year).
I think that having a time limit on property listings (1-2 weeks) is a great idea.
We now have a script that will be emailing users of listings that are more than 3 months old.
Users will be brought back to the website, where they can login and make changes, OR just click a button and add another 3 months to their listing.
This script will be run weekly, So in order for users to have their property deleted by us, they would have to list their property, wait 3 months, and then ignore another month of weekly deletion reminders before it gets deleted.
Thanks to everybody who suggested this feature.
As for the Lenders being outdated. We have been in the process of working with Commercial Lenders right now to have a Expidited Loan Application Process. Users will be able to rank their lenders in getting loans approved, etc. etc.
This will happen after TCI Commercial 1.0 comes out in a couple of months.