All Forum Posts by: Khenkis K.

@Bob Jones
@Bob Jones

Notes do absolutely nothing when we're talking about repossession.

Most people usually think of the mortgage or deed of trust as the contract they are signing with the lender to borrow money to purchase a property. However, that's not the case at all. It's the promissory note that contains the promise to repay the amount borrowed. Nothing more nothing less.

The mortgage or deed of trust is the document that pledges the property as security for the loan. It is the mortgage or deed of trust that allows a lender recourse (via foreclose) if the burrower fails to make the monthly payments and/or breaches the loan contract in some way or another.

When it comes to mobile property, it depends on what state you are in and how that state defines mobile property; each state has guidelines as to whether a mobile property is considered personal or real estate based on certain tests. I don't know about MD so I can't really help you there. In any case, I hope this clears some things up for ya.

Touché!!! @Jay Hinrichs

I'm no longer in WI as you can see but I wouldn't be surprised at all.

@Carrie Giordano

I'm going to expand a little further on what @Jay Hinrichs has said - "depends on your deal flow".

I would really look into whichever states you plan on targeting. Some require you to be licensed if your transactions exceed a certain amount in an allotted time; take Wisconsin for example. As per WI Statutues 452.01(2) for the defintion of a broker and WI Statutes 452.01(2)(b) for what I'm talking about:

WI Statutues 452.01(2)

“Broker" means any person not excluded by sub. (3), who does any of the following:"

* Owners are not excluded if you check out sub. (3).

WI Statutes 452.01(2)(b)

"Is engaged wholly or in part in the business of selling or exchanging interests or estates in real estate or businesses, including businesses' goodwill, inventory, or fixtures, whether or not the business includes real property, to the extent that a pattern of sales or exchanges is established, whether or not the person owns the real estate or businesses. Five sales or exchanges in one year or 10 sales or exchanges in 5 years is presumptive evidence of a pattern of sales or exchanges."

Basically, if you're doing five plus sales/exchanges in one year or 10+ sales/exchanges in a period of five years than you are considered a broker and should be licensed in the state of Wisconsin - whether you own the prop or not. I'm not certain if other states have similiar clauses but I would defintely look into it to make sure states you want to transact business in do or do not have such a legal condition.

Overall, I would become a licensee regardless. Access to the MLS, passive opportunities to increase your network, etc. More power to ya!

Hey hey!!! Now this is my kind of talk!

@Kevin Zolea I think you're already on the right track with R and Python. Essentially, any language you're comfortable with that has a good crawler/scraping framework is the way to go, in my opinion. However, I would say play on your strengths and so you definitely want to stick with Python. GIS is finally starting to ramp up and specialities (including your own) appear to be incorporating the technology more into their domain. ESRI is one of the top players in the GIS scene and guess what? Python just so happens to be their accepted scripting langugage.

@Account Closed

Sorry, I don't know of any companies that provide such data. As a matter of fact, I recently created a discussion to see if anyone else suffers from these types of problems. Whew! Glad to finally see some sign on here that I'm not the only oddball. As an AI programmer, I'm potentially interested in creating a system that addresses these analytics if there really is no one out there catering to such.

@Sam Shueh

Thanks for dropping in!

I appreciate the link piece. It certainly does fulfill the requirements I'm looking for but I guess I should also indicate that I'm not interested in servicers either. So, as a revision:

"My post is actually geared towards my research into whether there are any generic firms/companies (excluding servicers) out there, that I don't know of, that supply not just private note leads (i.e. ListSource, Experian, CoreLogics, etc.) but, more importantly, specific details about those notes (i.e. the mentioned maturity date, terms, position, encumbrances, etc.)"

I am certain that any servicer would have such details about a note down to a T. That is, I sure as heck hope they do!!! Nonetheless, thanks for the link and bumping me in clarifying further what I missed out on my initial "why".

@Christopher Winkler

Thanks for chiming in and your upfront honesty! I suppose I should've mentioned my "why" factor.

I'm in no way interested in "knowing" whom anyone's "source(s)" are. 

My post is actually geared towards my research into whether there are any generic firms/companies out there, that I don't know of, that supply not just private note leads (i.e. ListSource, Experian, CoreLogics, etc.) but, more importantly, specific details about those notes (i.e. the mentioned maturity date, terms, position, encumbrances, etc.)

You know that saying, "if you want something done right do it yourself"? Well, if there isn't anything on the market that provides such then, as a real estate oriented/AI programmer, I want to undertake that "impossible" mission and materialze it. Hence my waltz in gauging interest and if anyone else is experiencing similar unautomated data issues as moi.

Hey BPers,

I want to see who else is in the private notes scene and what lead gen companies/sites you get your lists from. If you don't want to disclose the source, that's fine; I'm actually specifically interested in knowing if your source provides you with details about the private note itself. So, maturity date, terms, you get the gist. Any enlightenment is highly appreciated.

Hello Fellow BPers!

Out of curiosity, I was wondering if there are any individuals here on good ol' BP whom niche in the highly fragmented SBL market? Brownie points if you keep tabs on the sweet stuff from Boxwood Means. :)

Thank you Joel, that helps out alot.