All Forum Posts by: Kathy Utiss

Alix- You don't say what your score is. However, if you divide $700,000/$1,100,000 your arv value comes in at a 64%. I believe there are hard money lenders that will go above this amount. I would assume with the cash you have down a lender will find you have a good score, and dti (debt to income ratio) as well. Not sure what a CO is. You also don't say the income produced. If your actually prepared there are HML on here who perform :) You may not even need all of that down payment. I would definitely explore my options before acting :)

Not a cool story at all. I woke up beginning in like 2004 when I found out my employer never had it in their contract to sell mortgage notes for Chase. Had they not deceived me at acceptance of employment I wouldn't have been doing such. The company I worked for was bought out. The former owner, and immediate manager are now deceased. The company that lied their board of directors are over 35 of our top law offices. We're taught to represent the truth. Truth is what they pay to publish. Not as we have had represented to us for many years. Tick tock goes the clock :) 

Many in this arena have different roles. Becoming a agent is suggested. I would also suggest a financial degree. Maybe become a notary signing agent. Paralegal training is a short course. Sometimes property preservation people get leads an average person wouldn't get. You can be as honest as you can be many in the industry are not. It put's those of us that are at risk. Been in asset management since 1994. Be sure to understand your buyer's parameters before looking for properties to wholesale. You don't want to get caught with a viable property,and not have a qualified buyer. Screening buyers can be a process of it's own. True wholesale deals are not just drive by deals. Sometimes, it takes negotiations to get the best deals. What you think is a good deal may be made better by doing xyz. There are a few people if you review the posts that have a clue of what their actually doing to produce results that are not gurus. The only STUPID question is the one you DON'T ASK! :) 

A good friend of mine said the section 8 rental people he received actually used to take care of the properties quite well. As they were glad to have a decent place to rent. All places will have their good and bad tenants. Life isn't always easy. One thing about being in banking or real estate if your fair minded you'll have a lot of good friends. Although, there are snakes you have to analyze to figure out who really is real in this biz :) Actually, I'm near St. Louis, my associate is in PA. He says there is a waiting list of a minimum of 30,000 families on waiting lists in his county alone. This is besides regular home renters/buyers competing as well. Housing prices are high in my area O'Fallon, MO. But there are deals to be had. Just like everywhere. If you run numbers well, and are honest with creativity there's good money to be made in biz.

Maybe look for subject to's on the mobile homes. Greentree which was bought out used to do what they call take over of equity. Doubt many do this anymore. But it used to help avoid defaults, and helped people get into housing they otherwise wouldn't have. So maybe someone will chime in with who currently is doing mortgage loans and contacts for their Reo's their looking to liquidate. Besides this I would also be doing drive-by's. Most mobile home brokers will mark them up in price but who knows what you find if you DON'T LOOK :) Also, I would look for land home packages. As if they are setup correctly the value is better than for homes just sitting in a park. Sometimes, they don't want the homes moved. But some mh parks will pay to move a mh to their park. 

Why are you picking foreclosures to invest in? Do you have the money to purchase, rehab, and resell yourself? Zillow is just one of many sources to use in purchasing foreclosures. As Zillow doesn't always have the most recent value.   A good tool to use is realtytrac.com. You can put in a street name and look for what's on sale, what's sold to come up with what a good arv will be for the purchase you intend to buy. There are other ways to buy real estate cheap as well. Alot of people do foreclosures. But the easy repair homes are gone before they hit the market usually. Sometimes, this means the one's you will find on market will need more in repairs. This can make it more difficult to find financing to do the foreclosure purchase. if you buy at 65% and still need repairs you may end up not having equity to have a lender to do a hml for you. What is your exit strategy? Are you buying to hold? Or buying to rehab flip and sell? We moved to new construction 55% land purchase/build cost/no repairs :) The main problem with foreclosures is you could be really buying a nightmare if you don't do your due diligence :(

Is it a water softener? 

Mobile homes usually have a a Vin like an auto. Taxes are paid at the dmv like on an auto as well. I would recommend closing at a title company. If it's a true land home package I would still think the mobile home purchased should have a vin. There should also be paperwork to show they purchased the land. I'm not sure what Texas rules are on land homes. Sometimes it's a concrete pad. Sometimes it's a basement like on a regular home.

In Sept 2001 I accepted employment with an agency that lied for 2.5 years about their written ability to sell mortgage notes. Had they not lied I wouldn't have been selling mortgage notes. After, I lost my job because they lied I still had a way to pay my bills. But no amount of money was enough to get honest biz done. 

It's after this that I started to doing my ancestry work. Having been one of America's top mortgage collectors the 1st thing I did was check to see if my great grandfather updated any info I didn't have that would enable me to understand what happened to him. 

As he was in early "Hollywood" he was a "Showman." He had a sideshow/freak-show he traveled our country with.  It was known as "The Hollywood Sideshow." By researching him thru out "The Billboard" I found out he was biz associates with "Johnny Coons."

If you don't know who this was he was the son of "Carleton Coon." If you've still never heard of these names I invite you to look at "The Coon Sanders Nighthawks" the 1st Novelty Orchestra on radio. The 1st band to make radio famous vs radio making someone famous. As their initial touring fee's earned helped start MCA. 

"Johnny Coon" ended up staying in the music biz. He worked for the ARA-American Recording Artists. He represented the likes of Red Foley, Roy Acuff, and Maurey Amsterdam. His grandfather "Claude Coon" sold the syrup that went on to become Coca-Cola.

A magician who knew my great grandfather wrote a book including information that show's my great grandfather once worked for "Ripley's in Hollywood."  I'm sure this is probably when "Lou Dufour" was still with "Royal American Shows."  When I checked to see if he updated info he gave the names we knew him by. His stage name of "Johnny Howard." The supposed family name of "John Edward Sundstrom."  His father he put down as both a Howard/Sundstrom as well. His mom he put down as "Katie O'Hara as in "Gone with the Wind." I thought it was all a fluke of information. Who wouldn't right? 

Yet my great uncle whose wife was my great grandmother's sister was a miner. He was involved in many industries gold, copper, silver, steel, coal,rolling mills, and railroads. He also was involved with the quarry that provided the stone for many courthouses, post offices, and other buildings in Texas, and Arkansas.

 The list goes on and on. One of the main men he was a miner for was "William Collins Whitney." If you don't know who he was well he was over the "1st Holding Company in all America." It was his grandson "Jock(John Hay)Whitney" who PAID to say my great grandmother NEVER EXISTED. "Jock" was the son of "Helen Hay" the daughter to "John Hay" the right hand man to "Abe."

"Mr. Whitney" was married twice his 1st wife married him into "The Standard Oil Fortune." His 2nd wife was "Edith Randolph." The daughter of Dr. Frederick May. He is the Doctor who examined both "Abe" and "John Wilkes Booth." In doing more family research there are people who put my grandmother down with a different father into the Whitney family tree. The same tree Jock is a part of. His sister was Joan Whitney Payson. Her husbands family once owned the farm the "White house" sits on. She also once owned "The NY Mets. 

https://www.amazon.com/Side-Show-Geeks-Freaks-Vagabonds/dp/0941543285

http://www.archive.org/stream/twentiethcenturyv1padd#page/n565/mode/2up

The government will do whatever they want to do. At least that's my theology. How did I come to such a conclusion? Well in my case my story starts before birth. Only it's taken me year's to figure out just how much they really operate with "Unclean Hands." I'm not saying the crisis isn't real. As I'm now a essential employee vs one of America's top 3rd party mortgage collectors for two of the top banks in our country. 

For the million's that have to face eviction for whatever reason you would never think you would face eviction over the way you have to pay. As being one of America's top mortgage collectors I'm limited in how many ways I can pay. As I lost my job over a couple of circumstances. The 1st being an employer who lied    (for 2.5 YEARS) about their contractual ability to sell mortgage notes for one of the largest banks in the world. The 2nd being a rogue debt investor whose only intent is to put money in her pocket. Who has no hindrance suing a bank or homeowner just the same. She really takes the cake. I found out in the last few years she got accused even of hiding assets in court. 

At any rate the only way I could pay is if I could get honest biz done for my investors that I've gained a repore with. One was willing to buy NPN to the tune of like $150,000 per month. But they wouldn't sell them the notes because they weren't spending $3-$4 million per month on NPN's. My other investor had $10 million to $50 million per month for deficiency balance notes. They couldn't get biz done either. As once said bank sold the worst possible notes they still wanted to make money on them! Excuse me but how the hell do u continue to make money on something you just sold? It is the equivalent of paying cash for an auto at $5,000 then saying give me an additional $300 a month indefinitely!

To summarize I lost my job as my employer once again lied about their written ability to sell mortgage notes for one of our largest banks. I went to court with the only way I had to pay. My attorney sold me under the bus after I did everything I was supposed to in order to have a way to be responsible. As I was raised to be such like many other millions of American's. It really defeats having a way to pay if no one will listen! 

After what my attorney did I sued a Fed Judge for all the people that go to court with no way to pay it defeats having a way to pay if no one will listen! I made two separate federal judges recuse. The 1st summarily denied everything as frivolous.( That I filed everything to harass the court!)  Yet I've always stayed out of court, and had/have a fiduciary responsibility to speak if I can do things to avoid bad things happening for millions of people.

 Then Sua Ponte-On Her Own Motion--Came back disqualified, and recused.  The next judge recused as well. Thereafter, I was surprised she (1st Judge) sounded like a "Wild West" character as she was known as "Hang Em High Jackson". 

My grandmother unfortunately died in 2011. Prior to death she wanted me to find out as much as I could about our family history. Omg I figured out I have been DNA tracked. And that it never mattered that I went to court with a way to pay. As any KYC-Know Your Client-Form I would or could do would be inaccurate. As I've figured out my uncle was the miner for the man over the 1st Holding Co in all America. And even if they lost the assets somehow they have still claimed for over 80 years my family never existed. And everyone in the country knows my grandmother by the world famous fictional name they gave her. They as well have made over $200 million claiming she was FICTIONAL! Then I found out the man my uncle was a miner for someone has put my grandmother in this family tree. The man who paid to say she never existed is in this family tree as well. Even one of the family members had the farm the "White-house" sits on!

How I figured out I was DNA tracked is I was threatened by a rogue POS who tries to demoralize people by threatening their jobs.(Not Trump) He knows why I'm tracked! As I was threatened when I informed one person of what I know and they went blabbering him. I was then threatened that even if I found out about the money I'd NEVER GET TO IT! Only I didn't know at the time what he was talking about!

Yep most jobs lie to get you in the door...In the biz a few years do you think I didn't ask them if they had the written ability to sell the notes prior to taking the job?   Of course they did is what I was told. Who would think a company could get by with lying about such written ability? But what employee is going to get such a bank to show that WRITTEN ABILITY? Or that you would have to decipher everything you learn to understand what they really have coming next for all of US?