All Forum Posts by: Vikram C.

Can all 4 of you send me an email with your names as in your official ID? Josh needs it in order to issue the tickets.

My email address is in my signature.

Great. I will work with Josh to have all 4 of you set up for Summit tickets. Hope you all have a great learning experience in Denver!

OK, so we have 4 people who are interested. I know Anson can make it to the Summit because he lives locally there. Can Tomsin, James and Tai confirm that they are able to attend the Summit if I get them tickets to it?

So far, Anson, Tomsin and James seem to qualify for these tickets. (Terry and Andrew seem to already be registered so I am not sure how I can help them.)

Nick, good to hear from you. Hope you are doing well.

I have benefited greatly by being a BP member and would like to give back by sponsoring 4 people to the BP Summit. If you would like a free ticket, please post in this thread about why it is important to you that you attend the Summit. (Just a short post with your reason for wanting to go.)

I will pay for the Summit ticket for the first 4 people selected.

I am fine with Denver, Josh, but can you do it a few weeks later so the weather is more pleasant for non-skiers?

You should sell a property that does not meet your ROI requirements based on its current market value and invest the proceeds in another property that meets your requirements. What you paid for it and how nice it is do not really matter.

Whether you should sell the specific property that you refer to is beyond me. When you determine the ROIs of a property, it should be based on your investing style (cash flow vs appreciation) and your best estimate of its prospects.

We have had to wire the EMD prior to contract signing by the bank. We did not like it, but dealing with an REO is largely doing stuff that you do not like.

For traditional sales, we would not be willing to do this.

You do not have to wait for the recorder to mail it to you. You just need it to be recorded.

If the seller refuses to sign the deed, then your recorse is to take legal action.

Don, a note secured by a 1st position mortgage / deed of trust is not considered a security, so if the web site only does such notes, they may be subject to other types of regulations but probably not securities regulations.

I do agree with your larger point that the securities regulations in the U.S. are ridiculous and are causing us to lose market share.

I think money360, based on the discussions earlier in this thread, is a very interesting idea if executed well. Some problems that I can see include the one that Jeff mentioned about not being able to evaluate the borrower.

From a borrower's perspective, I see one other problem. Well-run companies with a good track record find it quite easy to obtain loans at attractive LTVs and rates. If money360 loans have a low LTV, such as 50% or 55% of cost, then the only people who will borrow from them are those who are inexperienced and unable to obtain a regular hard money loan. This would make the loans issued by money360 subject to a higher default rate than average. And if they try to combat the higher default rate by increasing the interest rate, they will end up with an even lower quality of borrower and end up in a vicious cycle.

The only way to make their business viable would be to do thorough due diligence on each borrower and offer customized loan terms for each account. I am not sure if that fits within the business model of an online nationwide or statewide site.