InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: The Ron Rudin Story Posted by Ward-CA- on September 20, 2001 at 7:54 AM In Reply to: HEY WARD posted by Larry on September 19, 2001 at 10:30 PM : I went to yur class to. Great class. : I'm confsed because you told us the bidding is to violent at trust sales. So what diference does it make if you have millions of dollars in your pocket? Are you saying this guy shows up and everyone throws up their hands in frustration and leave the room swearing because he'll outbid them no matter what the price goes too? Not trying too be sarcastic, just trying to undrstand. Thanks. Larry =•=•=•=•=•=•=•=•=•=•=•=•=• Larry, the problem endemic to Gregg’s approach is that he will nose-dive whenever the local real estate market tumbles. That’s because he’s carrying inventory with slim margins that will be wiped out overnight if there’s an abrupt jump in our local marketing time. Carrying 30 to 50 properties for months at a time will pinch severely. However, the approach has been successful for him since ‘97. So stack up the profits of almost 5 years against losses from a meltdown of one year and I guess you’re still way ahead. I first ran into this approach in 1988 when I trained some foreclosure investors from Las Vegas, NV. There was a local real estate broker there by the name of Ron Rudin. Rudin’s modus operandi was to never let anyone, and I mean anyone, be a successful bidder at the trustee sales in Clark County. If Rudin had to bid 100% of market value he would, just to discourage anyone from bidding against him. So at times it would really cost Rudin big bucks to stick to his approach. But he had the bucks to do it and he did prevail. After a 30 to 60 days of dogged effort by the most persistent competition, they would eventually not show up. Then at those times Rudin wouldn’t have to bid more than a penny over the opening bid to buy property. And he’d have the market to himself until months later when some other newbie would show up. The only thing that stopped Ron Rudin was murder. He was shot in the head by his wife while he slept in his fortress mansion in 1993. She was after his 11 to 12 million dollar estate. She got life in prison instead. Seems Ron’s decapitated head showed up, proving he wasn’t missing. Gave the suspicious cops reason to search the mansion and get the evidence to pin the rap on his 5th wife. Oh, by the way, the foreclosure market in Clark County, NV has returned to normal. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I went to yur class to. Great class. : : I'm confsed because you told us the bidding is to violent at trust sales. So what diference does it make if you have millions of dollars in your pocket? Are you saying this guy shows up and everyone throws up their hands in frustration and leave the room swearing because he'll outbid them no matter what the price goes too? Not trying too be sarcastic, just trying to undrstand. Thanks. Larry : =•=•=•=•=•=•=•=•=•=•=•=•=• : Larry, the problem endemic to Gregg’s approach is that he will nose-dive whenever the local real estate market tumbles. That’s because he’s carrying inventory with slim margins that will be wiped out overnight if there’s an abrupt jump in our local marketing time. Carrying 30 to 50 properties for months at a time will pinch severely. : However, the approach has been successful for him since ‘97. So stack up the profits of almost 5 years against losses from a meltdown of one year and I guess you’re still way ahead. : I first ran into this approach in 1988 when I trained some foreclosure investors from Las Vegas, NV. There was a local real estate broker there by the name of Ron Rudin. Rudin’s modus operandi was to never let anyone, and I mean anyone, be a successful bidder at the trustee sales in Clark County. If Rudin had to bid 100% of market value he would, just to discourage anyone from bidding against him. : So at times it would really cost Rudin big bucks to stick to his approach. But he had the bucks to do it and he did prevail. After a 30 to 60 days of dogged effort by the most persistent competition, they would eventually not show up. Then at those times Rudin wouldn’t have to bid more than a penny over the opening bid to buy property. And he’d have the market to himself until months later when some other newbie would show up. : The only thing that stopped Ron Rudin was murder. He was shot in the head by his wife while he slept in his fortress mansion in 1993. She was after his 11 to 12 million dollar estate. She got life in prison instead. Seems Ron’s decapitated head showed up, proving he wasn’t missing. Gave the suspicious cops reason to search the mansion and get the evidence to pin the rap on his 5th wife. : Oh, by the way, the foreclosure market in Clark County, NV has returned to normal. 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

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455