Our first 4 projects are underway under our newly formed company, Pacific Servicing. We purchased the properties at the Riverside County courthouse during trustee sales. The properties are located in Riverside, San Jacinto (2), and Banning. 3 of the 4 properties (All purchased in the past 30 days) are currently in escrow, 2 of them with cash closes of 15 days or less. Our 3rd home is in a VA escrow, and our 4th is in the finishing stages of an eviction and we will have possession next week. All properties were purchased 20-35% below what the current market value is based on our evaluations. The turn times will average 45-60 days. We have had amazing success on our first go around of purchasing multiple properties in the same week. We have been working out all the kinks, from properly holding title, to legal protection, to our team's structure, and we are very confident that we will be major players in 2010 at the local sales! I will post the individual homes (Photos, Addresses, etc in future posts, after I learn all the fancy scripting I am seeing in blogs, I have emailed several agents to ask which sites or programs they use to create their blogs, and anxiously await their responses. HAPPY NEW YEAR!!
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