All Forum Posts by: Shawn C.

@Michael Justice Thanks, I'll give that a try.

My company purchased a first lien home equity nonperforming note in Texas years back. It took us six months (should have only taken 30 days) to receive the paperwork from the financial institution we purchased the note from. Once we received everything, we tried to get a deed in lieu of foreclosure from the mortgagee without luck. Then we sought out legal counsel and were told the note was worthless. Fast forward seven years, we found out what we were told was incorrect and the attorney did not know what they were talking about.

We are now sending a letter of default and acceleration, but we need to figure out how much the payee owes including penalty and interest. Is there a program or spreadsheet out there I could use? We do not purchase a lot of NPN's, and this is currently the only one we have. So, we are not wanting to spend a lot of money of something sophisticated just something simple and quick to get the job done. We have still sent letters periodically and we are going to try to get a deed in lieu one more time before we start foreclosure proceedings, but I need to have these figures.

Any suggestions? Your assistance is greatly appreciated.

@Ehsan Rishat Thank You!

@Michael Justice That sounds GREAT! How would I get in contact with them at that rate? Also, how many hours a month for that rate are we talking?

@Bob Lachance Ill shoot you a DM and thanks again!

@Bob Lachance Yep, any assistance you could give would be greatly appreciated!

Hello Everyone,

It looks like I am finally going to take the plunge and hire a virtual assistant in the next 60 days (or less) for my real estate investment business.

I am searching for advice in hiring a Virtual Assistant or a Company that contracts them out to assist my with the below mentioned. I posted here because I think this is where this type of post is allowed. I am searching for a company instead of an individual so I have access to backups in the event the VA is sick, on vacation or just gets hired full time by another company. The hours needed will be determined on the VA or company chosen and how they are able to assist my company's growth.

The current plan is to have a VA start out with a couple tasks like downloading spreadsheets re-sorting them to specific zip codes and emailing to bird dogs, manually researching county foreclosure records and entering into spreadsheets, & sorting emails. Then maybe some light bookkeeping depending how things go and I learn how my business can better benefit.

Does anyone have any tips, suggestions or things to look for when working with a VA or a company that employs them? I am also curious to what functions worked really well for a VA to complete? Were there any tasks you added later that only occurred to you because of your experience working with a VA? I am also interested in hearing of tasks that maybe they should stay away from.

I would like to further mention, I have never hired a VA so this is all new to me and I am very open to everyone's thoughts and suggestions.

Thank you in advance for your assistance!

@Anil Rathi I think we found a place for our house we are going to use. When I get home tonight I will PM you their info. They state 1 1/2 months and they are about $20K+ cheaper than some of the others. They state they use their own crews and don't sub anything out. Their business model is lower prices to do more volume.

@Ronald Rohde Thank you, msg. sent.

Hello,

To make a VERY long and convoluted story short, I am searching for examples of Notice of Default Letter I can send someone that is way behind on a 1st lien position Home Equity Note my S-Corp owns. Because it is a 1st lien home equity note our company has to go through the judicial foreclosure process in Texas even though the house is paid off. I will be hiring a attorney to conduct this foreclosure process but there are not many that I have found handle this in the Austin, Texas area. 

I really need to get the ball rolling on this because of some really bad legal advice from an attorney early on with this property. I found out the previous attorney really didn't know what he was talking about and just sat on it for a few years. Anyway, that is all part of the VERY long story I'm sparing everyone.

Also, if anyone has any examples of letters of exceleration I can send out for Texas that would be greatly appreciated.