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How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
How to buy Notes
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How to buy Notes

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http://www.NoteBuyingProfits.com No-nonsense Note Buying Information. Up-to-date! Hours of FREE Note Buying Training Videos, Free 1-on-1 Coaching Session! Click or Call 718-783-7605

http://www.NoteBuyingProfits.com No-nonsense Note Buying Information. Up-to-date! Hours of FREE Note Buying Training Videos, Free 1-on-1 Coaching Session! Click or Call 718-783-7605

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Transcript

  • 1. Week 2: Understanding “Title” The 8 – Week Roadmap to Launching into Notes 1
  • 2. Housekeeping • Phone and VoIP for audio • You’re muted now, so feel free to make noise • Raise hand a d Ques o s a se a d and Questions • Questions? Try the Question box • If you’re using phone only, type “11” and that will raise your hand 2
  • 3. Agenda Following the Roadmap Step by Step: Step-by-Step: • How to Determine the Value of a Property: Homework Assignment Review • Understanding title U d t di titl work k • Reviewing title on a sample property 3
  • 4. 1st: Review of Determining “Value” • Spreadsheet Review – What do all the columns mean? • Values – let’s compare what we found (homework) let s (don’t forget Google!) 4
  • 5. 2nd: An Introduction to Title • What is “title”? (from Wikipedia) title ? • Title is a legal term for a bundle of rights in a piece of property in hi h i which a party may own either a l t ith legal i t l interest or an equitable t it bl interest[1] • The i ht i th b dl Th rights in the bundle may b separated and h ld b be t d d held by different parties. It may also refer to a formal document that serves as evidence of ownership. Conveyance of the y document may be required in order to transfer ownership in the property to another person. • Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it. In many cases, cases both possession and title may be transferred independently of each other. 5
  • 6. 2nd: An Introduction to Title • How do you review “title”? • Title Titl companies / title reports i titl t • Title searches yourself (in person and online) 6
  • 7. 3rd: An Introduction to Title Tools • www.realquest.com Transaction history (subscription) • www netronline com www.netronline.com Title searches (free) • www.accurint.com / www.microbilt.com BK and lien searches (subscription) • www.courthousedirect.com Title searches (subscription-TX and CA only) • Let’s get familiar with each of these – they all have their strengths 7
  • 8. 4th: An example of a title report If you can’t visit the county recorder s office, you need to can t recorder’s office order a title report yourself • Cost ~$50-150 per report • Many sources – most title companies (“prelim”) or title review companies (e.g. www.mysourcedocs.com) 8
  • 9. 5th: R i i an actual Title Report Reviewing t l Titl R t Miami Beach 4-plex we bid on: To look for: 1. Taxes – what years, and how much? y 2. Mortgages – how many and how much? 3. Mortgages – who owns them? 4. Other liens & judgments – how many and how much? 9
  • 10. B k Bankruptcy t Pacer – useful review – subscription basis, but very p , y cheap ($0.08 / page) 10
  • 11. Wrapping Up • 2d down – 6 t go …. to • Complete that Checklist • Complete your Assignments • Pat yourself on the back: master these basic steps and you’ve just created a “virtual” valuation process • You are 1/4th of the way to launching your Note Buying Business! B i B i ! 11
  • 12. Next PAC Session – Negotiating w/Banks December 3: Negotiating with the Bank – the Bid Process Future PAC Sessions: F t S i December 17: Week 4 – Closing on a Note g January 7: Week 5 – The 5 Exits & Foreclosure 12

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