All Forum Posts by: Tony Severino

Blake

The Free search tools are here

http://www.melissadata.com/lookups/index.htm

However, the absentee owner list is right where you were

http://www.melissadata.com/lists/propertyownerlist/selectlist.aspx

I bought 350 names last month,... 65 bucks. We mailed a simple yellow letter campaign, I closed 2 contracts that brought me 27K in equity each...

At that point who cares about the cost.

After the yellow letter we have a drip campaign to the others who didn't respond

David

There are several types of agreements. Keep this in mind, an agreement is a non threatening name for contract. It is the same animal, just a different name.

Here are some common examples

Purchase and Sales Agreement
Lease Agreement
Option Agreement
Contractor Agreement
Application Receipt Agreements
Contract Assignments
Lease Option Agreements

But also be aware that there is no one "normal" agreement for each category. Every Investor usually will have a different version of a Purchase and Sales Agreement. Each Realtor board will have one that they want their realtors to use.

There is no one secret agreement. Sure some protect you more than others. Some are very basic, while others super complex.

You may want to attend a local Investment club and talk with some more experienced investors about what is used in your area.

Hope that helps.

Tony Severino

Flexjets has an entry level program of 425K for 50 hours of use per year, with a 2 year commitment.

Kinda like a cell phone plan....

I am looking for an app for blackberry's that allow use of MS word, excel and outlook.

Of course freeware is nice too

Is there any value allowed for referrals?

A quick summary please?

Tony

David

If you tell us where you are located, someone in your area may be able to give you more specific of an answer

AS Seen in Business Insider

http://www.businessinsider.com/here-comes-the-option-arm-mortgage-explosion-2009-5

Subprime is done. All the teaser rates are over, the interest rates have reset and the writing is on the wall.

But in the coming quarters, the scenario will play out with other exotic mortgages, Option ARM (pick-a-pay), Alt-A, etc. The homebuyers may have had better credit, but they had the same strategy: Get a low interest rate upfront, and then deal with the reset down the road, by either refinancing or selling the home. But, whoops, home values are way lower and the economy sucks. Plan derailed.

Zacks analyst Dirk van Dijk warns of the troubles ahead:

The vast majority of the homeowners with these 'pick a payment' mortgages pay only the minimum payment. When it exceeds a set level, or at a set date in the future (whichever comes first), the mortgage holder has to start paying the fully amortizing payment of the now much larger mortgage. This can cause huge jumps in the monthly payment, with increases of over 50% not uncommon.

These are the ultimate in 'exploding mortgages.' The number of these recasts is relatively small right now -- at about $1 billion per month -- but that number is set to grow dramatically over the next few years, exceeding $8 billion per month in the fall of 2011. If the equity in your house is gone and your monthly mortgage payment suddenly jumps from $2000 per month to over $3000 per month, what do you think is going to happen? How about if one or both of the people in the household has been laid off?

This is going to be a huge problem, particularly for Wells Fargo (WFC). The biggest writer of these abominations of housing finance vehicles was Golden West, which was bought by Wachovia, which was then absorbed into WFC. Unlike sub-prime mortgages, these were for the most part targeted at more upscale homeowners. The next wave of foreclosures will be in gated communities, not on the 'wrong side of the tracks.'

The chart (At the site) shows that the sub-prime problem is largely behind us (dark grey part of the bars), as most of those teaser rates have now expired. As long as people have some equity in their houses or are less than 5% underwater, it is possible for them to refinance their mortgages as long as rates stay low. The refi of up to 105% is part of the Obama housing relief plan. If people are further underwater than that they are out of luck (and increasingly out of a place to stay).

You can use these for your buyer, now if you are only a landlord, you out of luck.

Diversify...