All Forum Posts by: Laurence Hicks

Kondaur is kind of easy to deal with but prices are high at times. California i know they want like 67-70% current market value i don't even look at upb. If its BK NPN you have 3-6 month wait before you really can move on the property. If the buyer is willing you could do a deed-in-lieu. If you are California note buyer please email me with any other question.

I just hired a new project management company for a few REO properties we have been working on. It was nice to get 3 bids from 3 different contractors in one call. I cant say enough good things about them. If you need (contractor) project management company in so-cal send me email Ill forward you the info. Just nice to have someone to get the job done on time.

Company name is ServiceSolutionmgmt

Most of the time the banks goes off the Virtual Bank Appraiser which is way off. So they base their values on that fact alone. If anyone is a real buyer of NPL not a broker or just trying to learn more shoot me over a PM. Ill be happy to answer all your questions.

Ever list that i get direct from the bank has Original FICO and Current FICO. Unless your getting your listed from broker or another source that information should be on the tape as well. It should note take a seller 2 months to get back to you with any of the info stated above. And 90% of the notes i see trade with in a few weeks max.

Sure John, most of the time when I get a list from the bank they come with 4 prices for single family notes. Original UPB "Unpaid Balance", Current UPB, Virtual Bank Appraiser "VB" and Book Value. Most of the time the bank wants you to go off Current UPB and make your bids.

Kevin,

Are you going off UPB or did the bank give you there VB appraisal if so don't trust the VB because most of the time its off. I would go off comps in the area and base your price off that if its NPL. Figure in holding cost rehab and foreclosure cost and few other factors to start.

We sold more than few notes to our personal clients we never ask for POF. A question i would ask you is if you have close a NPL ? I have no problem with giving out NPL to my clients but we don't have brokers in the middle.

Originally posted by Taletha Waire:

Hello Laurence

I am still awaiting my phone call

Sorry to all who ask Notes are gone we are now pulling direct REO and NPN and PN from the bank with John Andre help.

Originally posted by Jeffrey Koenig:

It is fun to watch people's attempt at budget marketing. Ever since Bernie made it big people think these Ponzie schemes are easy to pull off. Really successful cons dont promise such outrageous returns! Get realistic guys and take a lesson from our friend Bernie. This is a disgrace to white collar crime!

Jordan was client of mine and told me about the forum. Just because a lot of people can't offer 40% on for say a 1 time deal don't knock it and call it scam. Also we don't use the forums for marketing mostly just networking with other companies across the country. That project was hard money deal were we pick up for super cheap. I'm sure nationwidepi will be meeting with us soon in the mastmind group.

Originally posted by Taletha Waire:

Hello Laurence

I am still awaiting my phone call

waiting for you to get back to me now.