All Forum Posts by: Account Closed

I forgot one thing.  If they ask for money, ask what percentage of people pay them a fee and then do not close on a property with them being the lender.

Of course, ask for them to put that number in writing.

Is it just me or is always a bad sign when the lender asks for money before closing.  I might give them money for an appraisal or perhaps an inspection by a licensed person.  Other than that, they are not going to get money from me before closing.

Best thing to do is contact the police.  They can setup an appointment to see and rent the place.

You might have forgotten to mention the military might decide to cut troop levels at the base and cut your values by 25% over night.

This is a great link to read about these products.

https://www.lawyersandsettlements.com/articles/hom...

There has been a huge amount of misinformation about these services.  The proper term is "Home Service Contract"  that seems to have been made up so they would be less regulated.  They claim to be neither an insurance policy or a warranty.

If you want to read about true home warranties the FTC has an information page.

http://www.consumer.ftc.gov/articles/0186-warranti...

By the way, if they were truly a warranty they would most likely be back by an insurance policy.

No matter what you call them.  I think they are a total waste of money for almost everyone that uses pays them.

http://pe.usps.com/businessmail101/getstarted/bulk...

There is more information there than you will want to read.  That is one reason why I suggest just hand stamping some to get started.

If you are mailing thousands of postcards the easiest and I believe cheapest way to get the postage on them is "permit imprint".  That is where the information from your mailing permit is printed on the postcard by the printer.

Make sure any list you plan to use is "presorted".  You will probably also want to include the mail barcode.

BUT...  before I went to all the trouble to set that up, I would send out about 200 a day for a week.  It will allow you to measure response.  You might want to change your postcard before you get 5000 of them.  You might also decide it is not going to work before you spend all the time and money to get setup to do mass mailing.  Because some people here will say that is overly negative... you could also be overwhelmed by the response and want to slow down.

I want to make sure that I completely understand.  Are you looking for a blanket loan for a new purchase of more than 100 homes?  If so you might be able to get the lender to drop or reduce the minimum value per house if you offer to increase the restrictions on partial releases of lien if they are offering flexible terms on the releases.

Are you going to need all of the value from all of the homes to get the loan?  Maybe some of them will not have to be used.

Another idea is to limit your risk.  Try to get the seller to enter into an agreement in advance to pay for the appraisals if the deal will not work.  It is not like you will need them if you cannot get the deal financed.  You might also be able to get him to agree in advance to split off any that do not make the cut into another package for you or another buyer to buy.

I could not agree more.

Well, I doubt the mother would bring a claim.  While she might not get criminally prosecuted, in civil court you can imagine what some of the counter claims might be.  She probably does not want the landlord's lawyers asking how she could have possibly not known what they were doing in the home she was living in.