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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Can I get the handout?? Posted by Rick on April 11, 2003 at 8:04 PM In Reply to: Go through the net equity worksheet... posted by Ward-CA- on April 11, 2003 at 5:39 AM Ward, Any way to make that groovy 10 page handout you mentioned available online? Rick : : Hi ward, : : Thanks! You are so knowledgeable and willing to share. You're the best! : : I am a bit confused by a step you said : : Now with the FMV and all the liens in hand, go to page 10 in the handout and figure out the projected net equity in the property. Then divide that equity figure in half to see what a 50/50 deal on that property looks like. If it’s too small for you then pass, otherwise you need to arrange a face-to-face visit with the owner. : : Hypothetically, I did a price check on domania.com to find out what houses on that street were going for. $944,121! It says the approx bid is $47,821 and the 2nd loan amount of 35,000 has an asterick nxt to it, which I learned from calling County Records Research that the 2nd is the one that is going to foreclose (?) The first is for $520,000. Now I haven't done the title search but say the loan info is correct, I'd subtract 520,000+35,000= 555,000 from the domania estimate of $944,121 which gives me the sum 394,121. So then I divide that in half and get $197,060.50 How do I decide if this is too small for me? I'd then meet the owner and make an offer of $197,060.50? I'm still not sure. : =•=•=•=•=•=•=•=•=•=•=•= : Leela, : Did you look at page 10 of the handout? It amounts to a lot more than just subtracting the two liens from the FMV (fair market value). So work your way through the net equity worksheet and see what number you finally end up with. Follow Ups: See - Foreclosures in a Nutshell - CD-ROM Ward-CA- 8:23 PM, 04/11/03 (2) Re: Handout + Audio Offered Through Store Cary 4:59 PM, 04/12/03 (1) Handout details Ward-CA- 7:20 AM, 04/14/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Any way to make that groovy 10 page handout you mentioned available online? : Rick : : : Hi ward, : : : Thanks! You are so knowledgeable and willing to share. You're the best! : : : I am a bit confused by a step you said : : : Now with the FMV and all the liens in hand, go to page 10 in the handout and figure out the projected net equity in the property. Then divide that equity figure in half to see what a 50/50 deal on that property looks like. If it’s too small for you then pass, otherwise you need to arrange a face-to-face visit with the owner. : : : Hypothetically, I did a price check on domania.com to find out what houses on that street were going for. $944,121! It says the approx bid is $47,821 and the 2nd loan amount of 35,000 has an asterick nxt to it, which I learned from calling County Records Research that the 2nd is the one that is going to foreclose (?) The first is for $520,000. Now I haven't done the title search but say the loan info is correct, I'd subtract 520,000+35,000= 555,000 from the domania estimate of $944,121 which gives me the sum 394,121. So then I divide that in half and get $197,060.50 How do I decide if this is too small for me? I'd then meet the owner and make an offer of $197,060.50? I'm still not sure. : : =•=•=•=•=•=•=•=•=•=•=•= : : Leela, : : Did you look at page 10 of the handout? It amounts to a lot more than just subtracting the two liens from the FMV (fair market value). So work your way through the net equity worksheet and see what number you finally end up with. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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