All Forum Posts by: Ben Bakhshi

@Bob E.,

Taxes are current, confirmed with the county.

I feel confident in analyzing the price of the property, at least as well as a BPO. Property will likely sell quickly for $100,000. Albeit, I don't know the condition nor have I seen pictures.

When buying notes, would you typically order an inspection, or view pictures of the property? I would imagine that would strengthen the quality of the investment.

I would want this property to be insured, so proof of insurance would be part of due diligence. Anyway to streamline this, rather than asking the seller or homeowner for insurance details?

Is it necessary for me to order Title search, $105 at FCI? Do you order this after making an offer that is accepted, but before signing the purchase agreement? What about title insurance?

And, regarding note servicing, is it trivial for me to pass on this note to FCI to service for me? The seller may be servicing this note himself, and collect checks or cash by hand. Would FCI go the whole 9 yards to collect?

Still available.

Thanks @Jon Holdman

I'm starting to dig into marketplaces for notes, and I wanted to try to analyze a deal here.

It is found here

Note Position: 1st Mortgage/Deed of Trust

Loan Status:Performing

Paid To:03/08/2014

Loan Maturity:10/08/2039

Loan Type:Residential

LTV Ratio:80.821%

Original Loan Amount: $95,000.00

Principal Balance: $88,903.36

Est. Market Value: $110,000.00

Valuation Type:Other

Valuation Date:03/28/2014

Note Rate:5.750%

The starting bid is 25% of the UPB.

The seller would earn $22,225 on the transaction.

The buyer would pay $22,225 (plus expenses) in exchange for $554 monthly payments (interest and principal payments) for 25 years .

The new effective interest rate for the buyer is 23%.

Main issues to uncover:

True market value of property (the seller set his own ARV, and this deal makes less sense if the property is worth only $60,000)

If there are unpaid taxes, or other liens, and if the property is foreclosed, does the 1st mortgage get his UPB before all other liens on the property?

This listing fits in the "too good to be true" category for me, and I would assume it won't actually sell for $22,225.

I was trying to make new colleague requests of people who live in Israel, but after about 4 individuals I got the big spam hammer. Probably because I was using the same message..

Didn't know I was spamming.

Two questions:

How can I add many new colleagues, one at a time?

Can I be un-banned from messaging? I won't do that again.

Please sign up via Meetup.com for our club and next event.

Monday, April 7th, at 7:00pm

We'll be talking about understanding how to manage a rehab job, taxes for Israeli citizens, and an open Q&A. Most importantly: NETWORKING.

We have a solid core and are growing (we have over 75 members). Feel free to contact me directly if you have any questions.

Ok, thanks. Guess I should buy some books at launch then.

They offer an a number of investment platforms.

They offer real estate deal makers support to create and administer their own "fund". Fund could be all debt, or all equity, or something in between.

They sound smart, and they say that have been running a number of large funds and see an opportunity to provide this service to other investors and managers.

The legal work is done by a 3rd party that they recommend, and comes included in the price that I was quoted, over $40k, yikes! But they offer more than a typical law firm. They offer fund financial modeling, presentation creation, and offer ongoing administration starting at $500 a month.

It all sounds useful and they have painted a very pretty picture, despite the high cost.

Has anyone worked with them before? Any things to look out for?

I'm about to buy the The Book on Flipping Houses, and there is a section for a Discount Code.

Are there any discount codes floating around that we can be aware of?

Maybe we can get a premium members only discount code going? @Brandon Turner & @Joshua Dorkin ?

The Israeli Real Estate Investment Club invites you to join us on ONLINE via Google Hangouts for our Weekly Wednesday event, starting NOW.

I will be discussing some of the latest news in Israeli real estate. And of course, if you have any burning questions, feel free to ask and we will change subjects. I'm here to help!

Link to Event (Must have a Google account to participate)