investor: BEWARE: the DANGERS of foreclosure, preforeclosure, REO websites
- 07/16/07 10:53 AM
This post is actually a modified comment that I made on David Britt’s blog, http://activerain.com/blogs/dbritt. You must read David’s blog post! David’s post and Fred’s comment on the post addresses an important and disenchanting issue in the realm of pre-foreclosures, foreclosures, and REO property. David’s post should be read by anyone considering becoming a member to any one of the many guru-esque foreclosure websites. It is true, preforeclosures, foreclosures, and bank owned, is all the buzz right now and the consumer must exercise caution when putting down their credit card information. I was regional director for www.jerseypreforeclosures.com and … (6 comments)
investor: What is a preforeclosure sale?
- 06/04/07 03:57 PM
Real estate investor glossary of terms: Preforeclosure sale: Buying a property in preforeclosure involves approaching the borrower or homeowner and offering to buy the property outright. The borrower/owner can walk away with the equity in the property and avoid a foreclosure or sometimes a “charge back” on his/her credit report. The buyer has time to research the title and condition of the property. Often times a buyer can purchase a home in preforeclosure for at least 15-20% below market value, conservatively. In rare cases buyers can realize discounts of 40-50% below market value. In many cases, homes in preforeclosure are left … (6 comments)
http://www.ustreas.gov/auctions/ US Department of Treasury auctions
http://www.hud.gov/ US Department of Housing and Urban Development
http://www.usmarshals.gov/assets/sales.htm US Marshal Auctions
http://www.bid4assets.com/storefront/index.cfm?var1=3252&level1=1&sfid=21#-3 Many states use this company to conduct their surplus property auctions I have only used auctions once and it was to purchase land lots through a tax lien sale in Sarasota Florida. I was involved with a group of investors and I was not directly involved in the bidding process. However, we ended up winning 7 of the 30 lots that we bid on. It was worth it but it was a huge hassle to get … (2 comments)
investor: websites for all Real Estate professionals:
- 05/28/07 02:27 AM
http://www.domania.com/ Quick property valuation tool. Its not the best but its quick and Free. http://www.zillow.com/ The contravercial property valuator. http://www.doityourself.com/ If your heading into a fixer upper this is a great tool. http://moving.move.com/move/tools/movingcalc.asp?poe=homestore This is a moving cost estimator. Pretty cool. http://www.homeplans.com/exec/hspos/hsnet A great resource for blueprints. http://www.forsalebyowner.com/ Not a bad place to look for clients. Many of these people are distressed homeowners. http://letsrenovate.com/ Renovation estimator. http://houseblogs.net/ Self explanitory http://real-estate-law.freeadvice.com/ Free legal advice http://www.schoolmatters.com/ Learn about local school districts http://www.iii.org/individuals/homei/ learn about homeowners insurance http://www.clubflyers.com/ This is the cheapest source for marketing material I have ever found! 5000 double sided glossy postcards for like $150.00 https://www.plaxo.com/ Excellent for managing your contacts. It works … (7 comments)
investor: Down Payment Assistance non-profit
- 05/26/07 03:40 AM
First of all I would like to apologize to the several active rain members who contacted me with regards to ameridream. The organizations website is as follows www.ameridream.org (NOT .com). This past week I had the opportunity to speak with almost 1,000 real estate professionals about exit strategies for selling wholesale properties, rehabs, flips, and other real estate investment projects. The main issue is where to find buyers. Often times the potential buyers are young, low income, future investor types who truly do not have money for a downpayment and/or closing fees. I am hearing that many of these people even submit … (13 comments)
investor: Loss Mitigator: The Ins and Outs of Short Sales & Understanding Credit Reports/ Q&A
- 05/25/07 10:15 AM
My Notes: Topic: Understanding credit reports & The Ins and Outs of Short Sales Speaker: Gary Nicolini; 10 years experience as a loss mitigator and real estate investor. A. Understanding a Credit Report: A Mortgage Lenders Perspective 1. First and foremost above score and history is the applicants ability, stability, and willingness to pay. 2. Even if history shows a few 30,60,90 days late or a series of skipped credit card payments the applicant might still be ok as long as they were consistently paying their mortgage payments 3. Subprime is not dead. Lenders still doing 80/20 with sub 660 scores. 4. … (7 comments)
investor: New Jersey Real Estate Investors Association meeting tonight
- 05/24/07 03:12 PM
Excellent meeting! The association chairperson was friendly, knowledgable, and he facilitated networking between members. I met an array of real estate practitioners from people in the note maket to creative financing specialists to international investors to a loss mitigator...and their was food!!!! Networking was strongly encouraged before and after the key note speaker. Also, members with property or services for sale were given face time in front of the whole group. I will continue to attend meetings and functions on a regular basis. Tonight about 40 people showed up. The key note speaker talked about short sales as a loss mitigator and an investor. I … (0 comments)
investor: Agents vs. Investors: language of residential real estate investing
- 05/24/07 02:32 AM
Most residentail real estate investor gurus tell investors to align themselves with real estate agents that speak the language of real estate investing but yet few real estate agents know what the so called "language" of real estate investing is. My question to all activerain members is, what is the language of real estate investing to you from your point of view as an agent or investor or both? Anthony
… (6 comments)
investor: Great networking opportunity at the Metropolitan Real Estate Investors Association; MREIA
- 05/22/07 03:59 AM
I don't know what else to say except my expectations were met and then they were exceeded. There must have been well over 300 people in attendance!!! Everyone I met was incredibly nice, friendly, and easy to talk to. This is truly one of New Jersey best kept secrets. I must have spoken to at least 50 people all of which were involved in real estate from a variety of prospectives ie, agents, mortgage brokers, investors, rehabbers, contractors, instructors, etc. From the moment I arrived at 6:15 till the moment I left at 10:15 I was engaged in positive conversation about real … (1 comments)
This post is actually a modified comment that I made on David Britt’s blog, http://activerain.com/blogs/dbritt.;)
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