All Forum Posts by: Michael Morrongiello

For those of you doing direct mail, SMS texting , Cold Calling or RVM - wondering if anyone has head of a data provider or list provider who can provide a SPECIAL list or data info on municipal water departments water turn offs / or where one or some of the following might have happen:

1) Water Meter was locked (Not Public Record info)

2) Water Utility Department is owed funds and thus a lien might have been placed against the property (now Public Record info)

This could be fertile ground and an indication of a more serious problem associated with a property. 

~ Michael Morrongiello

The Bay Area Wealth Builders Association - Meetings since 2000

High Quality Education, Information, Discussion and Networking Opportunities for BOTH

the Beginning and Seasoned Real Estate Investor

BAWB Monthly Meeting - Thursday February 21st 2019

TIMES:
6:30 Pm Networking Begins- Come Early if you can
7:00 Pm Formal Meeting starts and ends 9:30 Pm

A Powerful program you do not want to miss!

While its certainly profitable to do one or more deals a month
throughout the year and earn a decent income.

Is it Possible to Make $500K in a Week
(yes that's $500,000)
Flipping One Deal?

Why Actually YES with the right marketing, property type, Seller and Buyer involved along with the correct mindset it can be done

Visit with us this evening and you will
hear insights on How To:

* Find Off Market AND Below Market Deals
* What to say to sellers
* Should you Wholesale, WholeTail, or Buy and Sell?
* Do Fewer but Bigger and more profitable Deals
* Continue to Learn, Implement, Grow, Improvise-our speaker
   will Share his Journey

About our Speaker:
Jason Buzi has been a full time real estate investor since 2005, in the San Francisco Bay Area. He has wholesaled, flipped and built hundreds of properties throughout the Bay Area. His niches have included luxury home construction, wholesaling, double closings, short sales, and rehabs.

He has also invested in a mobile home park and land properties.
Jason specializes exclusively in off market deals, and has put together systems to find and buy properties off market and below market.

Every year, Jason flips well over $20M worth of properties using a combination of wholesaling, double closing and rehabbing strategies.

Has has made $500K in a week, and $2 million on one house.
Jason gained worldwide publicity in 2014 as the philanthropist behind the worldwide scavenger hunt "Hidden Cash", which quickly gained hundreds of thousands of followers on social media.

He has been interviewed by CNN, Fox News, Fortune magazine, ABC News, the BBC, Russian TV, German TV, the Wall Street Journal, the Los Angeles Times,the Washington Post and others. Jason enjoys speaking about real estate and has been a featured speaker at real estate clubs around the country. He is an active philanthropist, and sits on the board of the Tangible Hope Foundation. Jason is the author of the real estate book "Smash your Alarm Clock", which was an Amazon #1 bestseller in the real estate category.

For more Details, Directions, Information - Please Call our INFORMATION # 707-996-6411 or visit

Bill - Curious WHY did you reach that decision?
Have you spoken to others or heard from others who have purchased and used the "PRE MLS" pinpoint profits system?

11-24-18
This Pin Point Profits "System" put out and promoted by Ross Hamilton  has been marketed now for almost a year... 

Its been promoted with a lot of fanfare

(easily find PRE-MLS leads, no direct mail costs or cut down on your direct mail costs, all sorts of contact info readily available for the property owners, etc.).

They seem to be asking $1,000+ to BUY IN 

Has ANYONE tried using it to see if it has produced results for them in the following areas:

1) Ease of use & interface- reasonable learning curve

2) Accuracy of the Data (Property owners Phone #s, Email addresses, Social Media contact info, etc.)

3) Any hidden ongoing costs? - I've heard they want you to also pay a MONTHLY ongoing fee (not readily mentioned)

4) Experience with the Quality of the Leads it may or may have not produced?

5) Cost vs Benefits? 

6) Ongoing support 

Would love to hear input from those who have used this "System" .....

This Pin Point Profits "System" has been marketed now for almost a year... Has NO ONE tried using it to see if its produced results for them in the following areas: 

1) Ease of use

2) Accuracy of the Data (Phone #s, Email addresses, Social Media contact info, etc.)

3) Any hidden ongoing costs? 

4) Experience with the Quality of the Leads

Would love to hear.....

Forming a NEW LLC entity and then selling the interest in the LLC OR a Trust and then transferring the beneficial interest in the Trust - That is an interesting work around...however your're right many lenders may balk at selling to a newly formed entity.

I guess IF you are trying to ASSIGN the purchase agreement to your buyer and your buyer is a CASH Buyer you could also CLOSED and then concurrently QUIT CLAIM or deed out to the BUYER right at the closing. 

Lender SELLS to you or your entity. You close using buyers funds with full disclosure to the buyer, then DEED OUT immediatly to the BUYER and how they wish to take title.....

Issues with Assigning a RE Contract (with BANK OWNED REO property)

Many BANKS who are still putting out their REO inventory are refusing to allow for ANY type of

language in the Buyers Purchase agreement which allows for the BUYER to ASSIGN their purchase agreement thru the Escrow. 

A clause or language such as: 
"This agreement is assignable to a C- Corp., Sub-Chapter-S Corp, IRA, LLC-Limited Liability Company, Individual, or Joint Venture Partner prior to COE- close of escrow"

Is inevitably KICKED OUT or IF an attempt to ASSIGN the Buyers purchase agreement is requested - the Banks / REO lenders are saying

the agreement and its time line will have to commenced from the START 

Anyone using a cool trick to deal with the restrictions to ASSIGNING a BANK OWNED property thru Escrow ?

Warmly

Michael M. 

Bri - don't forget to also check out BAWB- The Bay Area Wealth Builders Association monthly meetings. They have been meeeting since 2000 and put on a wonderful program each month and some great workshops which include a wide array of speakers, topics, networking, etc. for both the beginning and seasoned RE Investor. Check them out at www.BAWB.info 

Curious if you can share your experiences with any of these Skip Tracing or phone and email gathering services?
TLO, mircobuilt,locateplus, intelius, whitepages, skipgenie, inquiso, etc.

Ease of use?

Cost Effective?

Can a VA use them?

HI- there are many forms of these Vacant Houses / Properties data feeds that have become available. Find Motivated Sellers, Cameron Dunlap's Vacant Houses Access, and more recently now FreedomSoft's Vacant house data feed. Essentially the data is generated by the USPS- United States Postal Service which denotes when a property is vacant or appears vacant (this includes Tenant move outs, Inherited properties, Bank Owned, HUD homes, etc.)

 Each of the Software programs have different user interface experiences so check them out to see which one is most comfortable for you. Each software vendor also charges DIFFERENT price points for their services. 

Do expect that some of the homes may NOT be vacant for long ....

~ Michael Morrongiello - Sunvest Property Solutions