All Forum Posts by: Cheryl C.

Jon, would you hook up with an established HML or make your own deals. I think I'd rather take a lower return and put $$$ with a "good" HML who can keep my money at work. How to find one? I clearly trust Ann Belemy. Perhaps I should call my Title Company. They have been around for decades and I know a brother of the principal does HML. I just don't know if he needs my $$$ or what a fair return would be. I used them once years ago (paid 12% and 3pts for a 6 month loan).

Excuse my ignorance Peter, but what is a structured product?

I believe that I have a "model portfolio" tied to our age bracket. I've always heard that it is best not to move in and out of the market because human nature causes people to sell low and buy high.

We are propbably 70% RE, 20 mixed funds and 10% cash/bonds. So although way over-weighted in RE, I am only looking for better return on the balance of our holdings. I have been adding extra principal to the higher interest RE Loans. I figure that the "return" is the note rate. It's just a killer to get these quarterly statements showing 6 figure losses. I doubt we made anything in ten yrs in the 401 (probably lost $$).

I hear some high dividend REITS are attractive, but that just weights me evenmore to RE. Another option is high-yield (dividend) big caps. I guess cash is pretty safe and not that harmful as rates are so low on CD's.

My son is re-fiing his condo at 5.25. Perhaps I should make that loan. It's 5 yr commercial money that he is looking at.

Ken,

I would find out before I bought the place "as-is". An appraiser may discover that the tax records don't match; Mr. "it's too close to the garage" can pick up the phone and call code enforcement; any number of things. Why would you take on this risk????

I'll date myself here; Robert Allen's Nothing Down. I read it in the 80's.

Well, I had no way to prove the BPO was wrong. I think it's about right. It just upsets me because it's 30K - lost. Another (an reo) just closed above my price.

People (investors - and I choose the term loosely) are crazy around here. Some subdivisions are up almost 100% from the late 2008. I'm totally backing-off.

Hello BP Nation,

I am trying to assess (re-assess) our investment holdings outside of RE. We are in our early 50's and I am quite awful at the stock market, etc. I wanted to ask what investment vehicles/allocations you all make with your assets. I have zero interest in having anything that requires active management. Quarterly balancing is fine, but I seem to be choosing the wrong funds, allocations, etc.

Any suggestions or ideas would be greatly appreciated.

Maryann,

I'm buying a short involving BOA and just got a rather shocking "new" bpo. Unfortunately, a TH 2 doors away closed 2 wks ago at a very high price (325K) after a very nice rehab and then the new bpo was done. I was in at 220K and BOA came back at 254K. It was mls listed and I'm dealing with the lister.

My question is how you were able to get the time from BOA to re-do the bpo? On my deal I asked the lister if we could give an explanation of the recent comp (I was told that 65K was put into the rehab - but I don't really believe it) and go back at 235K. She said no and that she had been instructed to immediately re-list at 254K.

This is the first time a lender has come back with a higher price on a short that I had under contract. I am ending up paying the higher price because I was down to the wire on designating a 1031 and it really is a nice place and still a good deal - just not a terrific deal. It'll be a rental and is move-in ready and the owner is allowing me to show it.

So how did you get a chance to negotiate? I got the feeling that BOA is really playing hardball now. The lister said BOA wanted a "co-op" bpo. How is this different from a regular bpo?

Sounds like it was foreclosed on if the bank is the record owner. So, it could now be an reo but not yet listed. Is the SS still "active"?

I heard (or read) that BOA is gearing up to dump alot of inventory. Thinking November and December may present some opportunities. I also heard yesterday from a large reo lister that investor competition is dropping off. My info on investor demand is local to my market.

For years ours was right around 800...then Infinitity Financial caused a disaster. In late '08 they reported a skip/collection/charge-off on a personal property tax bill on a leased car. I won't go into all the details (want to keep my blood pressure down) but it was a total screw-up on their part. Our score dropped to 650ish, BOA cancelled/froze 4 heloc's and dropped a credit card limit from 50K to 14K (after a routine check). It took months for Infinity to admit the mistake and correct out report.

We have slowly climbed back to 765. There was no re-opening those Heloc's given the Market, so our % of credit used went thru the roof. Those idiots destroyed 30yrs of perfect credit and took 6 months to admit it.

I now get monthly credit updates (freecreditreport.com). I still don't understand why Heloc's are reported as "revolving debt" instead of mortgages.

I think the highest I ever had was 807. Infinity cost me (lost me?) 700K in credit lines.