is for you all to read, although it is a bit long. I'm trying to get across to people what my company does and I am wondering if it is dumbed down enough for the masses. As usual your lovely comments will be much appreciated. We purchase condos with title problems in high foreclosure areas such as Orlando. We resolve the title problems. And then sell on to buy to let investors delivering a yield of 15% to the new owner - where the market yield is presently 11%. My last client is getting 18.6% because she bought hers for 35k Sterling and is getting 543 quid a month in rent. As the foreclosure stock falls and prices trend toward to normal levels - the market rental yield also falls. And quite feasibly to 7% by 2019 at the present rate of decline. Which means you more than double your money. Foreclosures in Orlando are still very high. But the problem has been compounded because as banks foreclose on condo units, the share of HOA fees increases dramatically for other owners in the building. So for example: Should 5 condos be foreclosed in a building of ten units each paying $300 a month, then the share of HOA fees for the remaining owners doubles to $600 a month. Since 2006 many condo owners were unable or unwilling to meet these new HOA fees and consequently ended up in default. Which forced the HOA to foreclose on owners who accrued arrears. However, those arrears remain a debt on the condo unit which renders it impossible to obtain title insurance at purchase unless the creditors waive their claims or agree to a negotiated settlement. Title insurance provides owners with marketable title which is essential if you want to resell the property. Without which, nobody will buy. When you look on the internet in Orlando for example and see condos or houses priced ridiculously low at say $20,000 or $30,000 or even $5,000, then it’s safe to assume the property does not have marketable title and you will be unable to obtain title insurance on purchase. Which means you will need to clear all the debts on the property before any company will quote you for title insurance. The proportion of HOA and other debts and fines can be in the tens of thousands of dollars. Simply because the HOA fees have either gone unpaid for years. Or there are too many debts and fines registered. Hence these properties are priced low to reflect these issues. And unless you have the expertise in Title research you will not know what problems exist and the costs for resolution until the lawyer acting on your behalf has completed a full title research. Normally this happens after you have paid your deposit and signed the sales and purchase contract. This acts as a deterrent to normal mom and pop buyers in the US who pass on by these properties because they fear the costs for resolution will be too excessive. And they do not want to pay needless legal fees to be told what they already fear. We specifically search for these units with our partner in the US who is also a real estate lawyer, and negotiate to reduce the debts, fines, HOA fees etc. Once achieved, we then obtain title insurance for the property. And then sell on to buy to let investors at a price which gives us a profit and also delivers a minimum gross yield of 15% to the new buyer. Which is higher than the market yield. This means there is instant equity on the real value. Not the nominal value. Where foreclosure rates are high, markets prices are distorted. And remain very low until these properties are absorbed. As the level of foreclosures fall, the market price for property in these areas correspondingly trends back toward it’s long term historical average price. And the market yield accordingly falls.
**** you pud, I am genuinely curious if the public understand this, if they don't I will have to change it all. Obviously, it isn't the finished article yet anyway.
Not bad. Could do with a bit of a makeover, though. I normally charge £150 per hour for editing, but you can have it done for a picture of your elbows.
Well, I obviously have more faith in GC than you then, surely, with me being a newbie here, people will actually read it and tell me their thoughts, or even better see a good business deal when they see one. Thick ****s that you all are!
It isn't the script I'm on about, it is the word usage, do you think that it is too complicated for the masses?
Luckily I've been pretending to be literate all the years I've been on here so I was unable to read it. Sorry Monaco.
No, because we do property bonds as well and will be listed on the Luxemburg stock exchange shortly, but yeah sure, an estate agent, that I own, like Tina owns your big fat arse!
No. There is a wealth of pertinent information included, and you convey your message really rather eloquently. In other words, you want to empty someone's bank account.
Not if they part with 35k and are getting 500 odd quid a month in rent and then sell property for at least double the original investment in about 4 years. In fact you have pretty much just said it is too complicated for people to understand! (thick ****)
. What if the investor dies within four years? Can you send the picture of your elbows now? And then I'll get to work.
The same as he does with anything else he owns you daft ****. He owns the property, so I'm guessing it is in his will to give to Battersea Dogs' Home?
I have loads of buyers and loads of repossessed homes to sell, but I thought I would ask the good people of GC what they thought of the summary and at the same time give people a good business chance. I suppose I'm just too nice sometimes.
