The folks that I signed for 6 investment properties in a 1031 exchange transaction attended college in Santa Barbara. They live in northern California but vacation with their family at the same airbnb on the beach in Santa Barbara every year. It just so happens they are both realtors, as well as investors. They were referred to me by another NSA in my area who was not available for the assignment, and he was contacted by an old friend of the borrower who was once a very highly recognized RE developer here in Santa Barbara.
It was fun to meet and find that we have many friends and associates in this business right here in Santa Barbara, and this my friends is what networking is all about. They are purchasing investment properties out of state because there is less risk, purchase prices are less, of course, appreciation is slower, but all generate positive cash flows (not always the case here in CA, especially Santa Barbara).
There were many notarizations required in this package, the buyer thought they would be paying $XX per package for notary, but I informed them if I charged $15 for every signature in all six packages it would run around $2000. We came together on a lower fee for the total packages because I would be in one place and not driving around the globe for six separate clients. It was a win/win for all of us, and we completed the signing in 1.5 hours. I was compensated for our agreed upon fee on the spot. They were happy because their two children and family members were waiting for them to have lunch together at the beach.
Interesting enough was who the lender is and how flexible they were, timely and competent. I love investment properties' signings, the borrower doesn't jump through all the hoops that purchase/refi properties require. Since it was a 1031 exchange, and the folks are a private client with Wells Fargo, it was a snap.
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