An interesting conversation with the Bulk Sales Asset Manger of the government agency FANNIE MAE today. As you know I sell lots of BULK REO's, they are properties that the government owns or large lending institutions or private investors that are sold for a discount at 100's and 100's at a time for 40-75 cents on the dollar depending on what state you buy in. Most of them are nation wide of which you must provide proof of funds, a letter of interest, a signed non disclosure, and a fee agreement as a investor before you can even make a bid.
I have a package right now from a top 15 Bank of 417 properties across the nation for sale for about $40M which breaks down to about 70-75 cents on the dollar. Nevertheless in talking to my rep at FANNIE MAE she said something to me in a very subtle way. but I got it. I'll share it with you in a moment.
I am starting to do loans again, since the rates dropped again people are looking to refinance, buyers are also feeling like this is the time to buy. The banks seems to be trying a little harder to close the short sales, and close loan modifications faster. There seems to be a sense that we are nearing the bottom here in SOCAL.
We have are selling a few more properties than the month before.
Ok, back to my conversation. So she said to me this we are liquidating properties across the country for as low as $30K each at Bulk, but these are less desirable to the single home buyer. We target the Home Path website with our properties that seem to be a little more desirable and are higher in price...hmmmmmmmmmmm....I thought BINGO !!! The road to wealth and fortune is doing what others will not, cannot, or are afraid to do...........These less desirable properties are the way to go because nobody wants them...My experience with FANNIE MAE is that like all large corporations they want the easiest and fastest way to make a buck.....not the way of a little effort...there is the TREASURE......I'm looking forward to getting a hot low priced BULK list from FANNIE MAE very soon, and you guys will be the first to know..Contact me at my web site www.jessetorrero.net, or my email at winwinwininc@yahoo.com, or on my office phone at 818-800-1343.......Until next time this is Jesse Torrrero 'STRAIGHT UP'....
Thursday, October 21, 2010
Tuesday, October 19, 2010
Do I or Don't I...hmmmm? Buy Real Estate and or Refi NOW !
Now is the time to buy. Now is the time to refinance. Simple!
The reasons are not complicated either. Never in our lifetimes has the situation in our country existed, not even in the 'Great Depression' before WWII (also look at the 1873 Depression that started in Europe and spread to the US, and the financial implosion in the early 20th century then created by J.P. Morgan, the wealthiest man in America, during the Woodrow Wilson Presidency, a patsy yes man for J.P. Morgan. In this you will learn about the creation of the Illegal Federal Reserve Bank and system, and the Illegal IRS).
We are at a turning point now for all people financially, morally, ethicaly ,and socially. In times like this the very wealthy and the rich get more while everyone else ends up with less. The middle class is squeezed but life gets better for the instigators of the implosion (look at the concept of the One world government and economy, the new world order, and the Rothchilds banking empire that exits today). It is about time that you get a piece of the action. Prices are at an all time low, sellers, financial institutions, and governments are feeling it and are unloading the fat they have accumulated over the last decade and you need to get some of that right now for you and your family.
Do not let anyone tell you you can not. If you have a real job with two years W2 and tax returns, a fica score of 640 or better, not to much debt, with some savings you need to buy your home, or sell and buy up for a less payment than you maybe making right now. Over the next 5-10 years watch the value explode. With the lowest interest rate ever join the ranks of quality home owners that are still the backbone of America.
For those who have been thinking about refinancing, do it now. If you do not you will say I should of, could of, would of. If you have a little equity value left in your property and can qualify as above magic can happen for you. With some rates as low as 3.625% right now can you imagine how much less you would be paying and saving at the same time. Inflation (will raise your interest not lower it) is coming do not let it run you over, get the refi done now.
Come on people do not be on the side lines here. There is no better time than right now this minute. Until next time this is Jesse Torrero 'Straight Up'.....www.jessetorrero.net, winwinwininc
The reasons are not complicated either. Never in our lifetimes has the situation in our country existed, not even in the 'Great Depression' before WWII (also look at the 1873 Depression that started in Europe and spread to the US, and the financial implosion in the early 20th century then created by J.P. Morgan, the wealthiest man in America, during the Woodrow Wilson Presidency, a patsy yes man for J.P. Morgan. In this you will learn about the creation of the Illegal Federal Reserve Bank and system, and the Illegal IRS).
We are at a turning point now for all people financially, morally, ethicaly ,and socially. In times like this the very wealthy and the rich get more while everyone else ends up with less. The middle class is squeezed but life gets better for the instigators of the implosion (look at the concept of the One world government and economy, the new world order, and the Rothchilds banking empire that exits today). It is about time that you get a piece of the action. Prices are at an all time low, sellers, financial institutions, and governments are feeling it and are unloading the fat they have accumulated over the last decade and you need to get some of that right now for you and your family.
Do not let anyone tell you you can not. If you have a real job with two years W2 and tax returns, a fica score of 640 or better, not to much debt, with some savings you need to buy your home, or sell and buy up for a less payment than you maybe making right now. Over the next 5-10 years watch the value explode. With the lowest interest rate ever join the ranks of quality home owners that are still the backbone of America.
For those who have been thinking about refinancing, do it now. If you do not you will say I should of, could of, would of. If you have a little equity value left in your property and can qualify as above magic can happen for you. With some rates as low as 3.625% right now can you imagine how much less you would be paying and saving at the same time. Inflation (will raise your interest not lower it) is coming do not let it run you over, get the refi done now.
Come on people do not be on the side lines here. There is no better time than right now this minute. Until next time this is Jesse Torrero 'Straight Up'.....www.jessetorrero.net, winwinwininc
Sunday, October 17, 2010
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