All Forum Posts by: Ted Akers

David Littleton Transactional funders typically do not require "non-refundable" EMD for back-to-back fundings, but typically do require somewhat larger amounts for extended term fundings, such as for 30 or more day holding requirements imposed by banks when they are the seller or are approving a short sale.

Bill,
You have several compliments here, but I'll throw you another one. You are great for detailed replies and staying in bounds, or out of the grey areas. It is a blessing to BP that you are retired and have the time to assist other here. Thanks!

Hi Joel,
I am looking for a relatively inexpensive yet more accurate automated valuation model for an initial analysis of this pool and other properties we may fund. There are many out there, and I am trying to get a higher level of accuracy than Trulia or Zilllow. Based on that first quick look I would proceed toward my purchase or funding. If we moved toward a purchase I would do at least a BPO or a blanket or individual appraisals.

Thanks for your reply and any additional thoughts.

I am analyzing a portfolio of rentals in the southeast. Does anyone have suggestions based on experience for accuracy and costs of AVM's? Any thoughts or experience with Core Logic, Real Quest, Credit Technologies, Fiserv, LP Services, Sitex, Freddie Mac HVE, or others? I am looking for higher accurancy than Trulia or Zillow.

Thanks in advance for your input.

I think you want someone local to you that can work from your location. I posted to Craigslist a year ago and recieved around 25 resumes within a week in Denver. I may have gotten lucky but have a good one at $20.00/hr. I did not post an hourly rate, but at that time I had several willing to work in the $15-25/hr. range. My cashflows for fundings are not simple bookkeeping, and I did go through two before settling with this one. For real estate or funding businesses I think you want an above average bookkeeper; so depending on your local market may want to pay above these prices, but $60-100/hour is not necessary.

I am analyzing a portfolio of rentals in a southeast state and am starting to review Automated Valuation Models and providers. Does anyone have suggestions based on experience for accuracy and pricing of the AVM? Any thoughts or experience with Core Logic, Real Quest, Credit Technologies, Fiserv, LP Services, Sitex, Freddie Mac HVE, or others? I am looking for higher accurancy than Trulia or Zillow.

Thanks in advance for your input.

Nice job with the patience. We are seeing short sales getting approved much faster these days, but there continues to be some that are ridicuously long.

That one is a major rehab, nice work.

Acquiring the beneficial interest in a trust with your own cash, transactional funding, or private investors has been done to eliminate title seasoning issues of the end lender because title to the property has not changed with the purchase of the beneficial interest. However, it should not be done without disclosures to the short sale bank that you may acquire the property via a trust. Some lenders for your end buyer may question the use of the trust and some title companies are beginning to not close flips when a trust is involved.

James, the two rates equate to only $28/month difference in payments on a $100,000 mortgage. These rates are also at historic lows and either one is a great deal. One of the advantages of real estate is leverage. Most investors would choose the lowest possible down payment and retain the extra cash for the next deal.