All Forum Posts by: Varinder Kumar

and yes i almost forgot to mention the price of notes, as @Wayne Snell mentioned 30-40% UPB is rare a lot of times the pricing guidance will be at 50-60% but when you send the bid in at say 60% and if its a good asset then the seller can counter at even 85% so even if you see 30-40% does not mean you will get it at that. For example i submitted a bid for a note for $10K which was 50% of UPB and got countered at $18,500, due to the quality of the note and its status.

Depends on the exit strategy. Once you figure out your goal with notes then the criteria of evaluating notes on a tape will be based on your goal. For example, I want to build capitol so I'm not interested in performing notes or getting them performing, doing a work out etc. Atleast not yet. So i only look for non performing notes which the home is vacant, hopefully already foreclosed on and has a good spread on value (considering all fees and liens and taxes etc), so that I can sell the property for cash in its as is condition without doing any rehab. By looking for properties like this I will be able to achieve my goal of building capitol fast though the proceeds of the sale of these homes. But if you want to have cash flow then yes you would do something different, it wouldn't matter to you if the home is vacant etc because your going to want to put someone in there anyway so you can start collecting payments. Alot of other factors involved like days on market in that area etc. but know your exit strategy and then execute accordingly to satisfy your strategy. Hope this helps.

- varinder 

@Dave Blackman 

You review everything you can and send the rest to your attorney. overnight the collateral file to the attorney and he will let you know whats missing and whats legit, thats what your paying them for.

70% LTV

Hi everyone I am looking for a realtor in the Vermontville area. Looking for someone to work with who is familiar with the area and its market trend. I am looking to purchase and sell some properties in that area. Please PM me. Thank you.

@David Dachtera 

I already figured it out. However Legalzoom does have online help but they charge you for it, via attorney. I called the IRS and hey said it does not matter what state it is in as long as its filed correctly during taxes. I guess i was over thinking things. 

So I applied for an EIN through the IRS website, after receiving the EIN does it automatically show up under legalzoom? i created my LLC through legalzoom. I want to make sure it is all connected. Also on the letter from the IRS with my EIN it is my LLC name but it does not have the "LLC" part behind the name, does this matter? I know when i filled out the application online for the EIN it asked just to list the name of the LLC and leave the LLC part out of it, so maybe thats why?? Pease advise. Maybe im over thinking things lol. Thanks in advance.