dvought

Do not sign contacts that say NCND's now the Nd stands for Non disclosure that's fine but the Nc's don't sign if you sign that contact it makes it possable for you not to do busineess but only with them even after you make good money, so be careful what you sign. That's just my 2 cents Thanks Not sure I understand exactly what you are saying, but an NCND is standard paperwork to process any of these REO or Note Packages for sale. You can do business with anyone and it doesn't limit you, but one thing it does establish is that if someone was in the chain that brought the buyer and seller together, they stay in the chain for comission purposes on current and future deals, i.e., they can't just circumvent you and cut you out of the deal once you introduce them to someone. Like I said it's standard for all of these large bulk deals. BTW, this package is long gone, although I do get others in every week. The bottom line is the serious buyers who want to buy product do the required paperwork, and you know what "walks" away. Thanks. Dawn

I have recently refinanced a couple of rental properties that I originally bought last year for cash in my personal name. Now that the refinancing is done, I will be Quit Claiming the properties from my personal name to my LLC for asset protection purposes. I will be writing a letter to the mortgage company to inform them of this, so they have it for their records. My question is, do I need to send a similar letter to my insurance company that I have a Landlord's Policy with? Will they require the insurance name to be changed on the policy, and most importantly, will they now tell me it's more money to insure because it's for a company? Thanks for all the great information you more experienced investors offer on this forum. I've received a lot of valuable education, and your helpful attitudes are very much appreciated! Dawn

Dido's Dawn but my son is a welder and can get...ahhh....scraps I love FREE Would your son swing by Birmingham and do these for me too......lol......

I have direct contact with a seller's mandate who primarily deals in REOs and notes. One of his sellers currently has available the following deal that is a little out of the box: -portfolio consists of 98% performing notes with 2% non-performing notes -tape request must be between $140M - $500M -selling at 60% LTV -the seller is giving an option (not a requirement) that the buyer can sell the note package back to the seller after 60 days at a 75% LTV. Basically the seller is looking for temporary capital to work with. If you have any buyers for this, the only paperwork I need to get going is an NCND between Hopeful Home Solutions connecting down to the buyer (or buyer's mandate, if there is one). All of the NCND(s) would go to the mandate, as he won't allow anyone else into the commission pool if they haven't signed off on the NCND. You also need to let me know at least verbally how much product (between $140M and $500M) the buyer wants to purchase, although an email is always better so there's no misunderstanding. Once I get the NCND, the seller's mandate would speak to the buyer/mandate and put the seller on the phone directly with the buyer to move forward. They would be proofed up bank to bank. This mandate keeps the process really simple and not paperwork intensive to get going. Dawn Vought Hopeful Home Solutions, Inc. (P) 631-219-2295 (F) 866-219-2645 HopefulHomeSolutions@hotmail.com

This is a big issue in one of the areas I buy rental houses (Birmingham, AL). My contractors do not place the HVAC units until right before the property is rented. Even the Section 8 inspectors accept that this is done that way. Once the units are installed, I have a contractor come in and weld a steel protective cage over them to help deter theft. It costs me about $150 for labor and materials. Dawn

The NFL blocked it due to a copyright claim. But who needs a replay anyway? The "helmut catch" is burned into my brain....almost as much as the pouting faces of the Patriots.......How Sweet It Is!!!!

I have access to three of the national clearinghouses that are selling large REO portfolios. One of these clearinghouses sends "Hot Sheets" on a weekly basis of what is currently available and in escrow already compiled. If you would like to proceed in purchasing any of these portfolios, please either email me at HopefulHomeSolutions@hotmail.com or call me at 631-219-2295. Two NCNDs would need to be signed, and this seller requires just a soft LOI to start. Proofing is done bank to bank or escrow agent to escrow agent. The buyer must be able and available to proof up within 24 hours of submitting the paperwork. These are first come, first served deals, and are not being held exclusively by me or others, so time is of the essence. The seller moves forward with the first people to submit the correct paperwork and then subsequently proof up. If you don't see anything you like this week, but are a serious buyer and would like to set up generic LOI paperwork after signing NCNDs, that would facilitate you taking down the packages that do come along that fit your parameters. I will post these Hot Sheet deals as they come out, which is usually weekly. Hot_Sheet_1_28_08_v_16.pdf Please feel free to contact me if you have any questions. Thanks. Dawn Dawn Vought, President Hopeful Home Solutions, Inc. (P) 631-219-2295 (F) 866-219-2645

You're right Tony, that would have been a great game...oh wait, the Packers didn't make it...

You go Ernie! I'll be listening in!

I just saw David Lindahl give a one day seminar in Florida a few weeks ago. He seemed to really know his stuff, and didn't come across as a "salesman". He seemed very down to earth. He actually actively invests a lot, and looks to partner with his students. I was offered to partner on two apartment buildings he's currently looking for investors for in TX. As like most others, he does offer a course you can buy, along with a separate boot camp.

Can anyone recommend BPO brokers who would be able to do numerous BPOs in a few days? I'm currently working with investors who are purchasing large REO portfolios consisting of numerous residential and commercial properties. Due diligence time given by the banks is short (5 - 10 days typically), so I'd like to find people that can do a lot of them in one day. I would like to be able to give a few names to the investors I am working with if they don't have someone they work with normally. I'm looking for BPO agents that can do residential and commercial BPOs, and also have local (NY) in addition to potentially nationwide capabilities. If you know of someone that could fill any one or all of the above, please either post their contact information here or email me. If you know approximate prices, even better! Thanks. Dawn

Does anyone have a contact name/phone number for anyone at Washington Mutual who I could speak to buy a specific non-performing mortgage note from them? All of the phone numbers I have found on line have been disconnected or are always busy. If anyone could point me in the right direction or give any advice on how to go about this, please either respond to this post or email me at HopefulHomeSolutions@hotmail.com. Thanks. Dawn Vought (631)219-2295

O.K. I see. I was specifically thinking about a local deal where there's basically little to no equity, and the bank has given the homeowner a short period of time to sell the property on MLS to break even before foreclosing. I am trying to figure out a way to relieve the homeowner's challenge and make money. My first thought was a short sale, but because I have never done one before, a CA deal sounded more appealing to me. I think I'm going to try this as my first short sale (hopefully with help from an experienced short sale investor in exchange for a piece of the deal). The bank involved is Deutsche Bank, and based upon what's in County records the mortgage is a Fannie Mae/Freddie Mac mortgage. Does anyone have any insight as to whether Deutsche Bank is amenable to short sales or not? I've heard there are some banks that are and some that are very close-minded. Any feedback would be appreciated. Thanks.

Hi Michael. Is there anywhere to get any sample paperwork or more details on how these work? (I will do a search for this as suggested above.) Will this also work where the existing mortgage is so high that even with using a lease/option a tenant/buyer wouldn't pay anywhere near the monthly mortgage payment because it's a sub-prime ARM rate? Or is part of the process the bank agreeing to convert it into a more normal fixed rate? Between the taxes and the home prices, most "normal" rentals in my area don't cover the mortgage payment, but having the high rate that got the pre-foreclosure person in trouble in the first place just makes the matter worse. Thanks. Dawn