For those of you looking to get your feet wet in the Bulk REO Business we have the perfect opportunity.
I came across this small 9 home package for $50K.
Mortgage.com values the properties at $510,000 or under 10 cents on the dollar!!
Now let’s say mortgage.com overvalues properties by 70% (which is extremely high, but what the heck).
That would value the portfolio at $153K which is still 32 cents on the dollar!!
Homes are located in the following states:
AZ(1) AR (1) MO (1) MI (3) LA (1) OH (1) KY (1)
Click HERE to email me if you’re interested.
That’s right! Due to the number of requests you can now make us an offer for ONLY THE HOUSES YOU WANT from the 249 list.
Want only California? No problem!
Want only Michigan? No problem!
Want all the midwest? No Problem!
We have several bids for the entire package, but you can still make us an offer for only the houses you want.
Here’s what to do:
- If you don’t already have the list of properties, click HERE.
- Select the properties you want.
- Complete the included contract, omit the entire list of properties, and include an addendum for only the ones you want.
- Email (or fax 425-790-4592) the signed contract to us.
- Wire in your bid to escrow (call for directions) or directly to Sunrise Property Group, per the instructions in the contract
How many chances do you get to PICK YOUR OWN PROPERTIES AND NAME YOUR OWN PRICE?
P.S. Someone is DEFINITELY walking away with these properties TODAY- don’t delay!
Thank you for all the positive feedback!
Here are the most frequently asked questions about the auction:
Q: Why do I have to wire in the full amount of my bid?
A: This is really the only way to make sure that bids are legitimate and that a bidder’s funds are really available. POFs and LOI make no guarantee that the winner of the auction will actually fund their bid. How many times have you received these only to have a buyer back out at closing time? If you need to fund the winning bid in two days anyway then there’s really no difference. The next time around we may try asking only for an applicable, but non-refundable deposit (for the winner that is- everyone else still gets their deposit wired back) for bids. With the response we’ve already had there will DEFINITELY be more auctions coming!
Q: Can I submit my bid to escrow rather then to Sunrise directly?
A: YES YOU CAN. If you’ve done business with us before than you’ll probably want to bypass escrow and send us your funds directly, but you you feel more comfortable you can certainly wire your bid to escrow since these deeds will be available very quickly- see next question for more on deeds.
Q: What kind of deeds are these and how soon will they be available?
A: We provide the same deeds that we receive from the bank. When we purchased this portfolio we received QUITCLAIM deeds, so we will provide YOU with QUITCLAIM deeds. This particular portfolio all from one bank, but from several divisions, all of which are responsible for providing the deeds to us. We have received several of them already and several are being FedEx’d to us everyday. We expect to have them ALL within 30-45 days. Remember, we JUST bought these and the bank lawyers are busy! They are contractually obligated to provide them all to us just as we are obligated to provide them to YOU. We don’t hold on to a deed any longer than 24-48 hours; as they come in we title them and FedEX them out to you.
Q: Why don’t I see Sunrise Property Group, LLC as the owner of record when I do a title search?
A: We formed a separate holding company for this portfolio; the bank has titled the properties to this LLC. We have not sent the deeds out for recording as this would further slow down the process of providing YOU with deeds. Each county has their own process, paperwork, and costs for recording. We sell through hundreds of houses a month; recording them all before we sell them would be a logistical nightmare not to mention slow down our sales cycle. The winner of the auction will actually receive TWO deeds:1) Deed from the bank to us, 2) Deed from us to you. Record them both and you will have no problem with chain of title or title insurance. Also, it is no problem if the winner would like to leave the properties titled to the LLC and simply acquire the LLC rather than re-title the deeds. It’s up to you. If for some reason you do encounter any issue, just let us know; we’re happy to help out. We want you to be happy and MAKE MONEY with this purchase. Without repeat business we have no business.
Don’t miss your chance to NAME YOUR OWN PRICE! Click here to receive the list of properties and contract.
If you have any questions please don’t hesitate to ask. I’ve been on the phone ALL DAY answering questions. Feel free to give me a call or email me directly.
GOOD LUCK!
I don’t know about you, but I am sick and tired of all the BS and wasted time dealing with fake buyers and sellers for bulk REO lists, so we’re changing the game.
We’ve completed our latest acquisition: 249 properties in all the states you’ve been asking for. Now is your chance to SET YOUR OWN PRICE- YOU decide what you’re going to pay- YOU decide the LTV, YOU do the due diligence, YOU control the deal.
The process is pure, clean, and simple.
- Enter your contact info in the box below to have the full list of addresses and a contract emailed to you. (This has been removed as auction is over)
- Do your own due diligence
- When you’re ready to place your bid simply complete the contract and wire your bid to us.
- Bidding ends this Thursday (10-30-08) at 5:00pm EST. The highest bidder wins the portfolio.
- Everyone else’s funds will be wired back to them promptly the following day, Friday.
Bid to win, but BID SOMETHING- you can’t win if you don’t play. Think it’s only worth $1000/house? Great, bid $249K. Have buyers lined up that are going to buy them from you for top dollar? Great, bid $20K a house. YOU set the price and YOU control the deal.
If you are a broker or an intermediary have an agreement in place with your bidder to get paid. I know many of you have been working hard to close deals and have been the victim of deadbeat buyers yourself. Save yourself the hassle! Get an agreement signed with them, direct them to this post, and be done with it. If they don’t bid SOMETHING then they’re not a real buyer anyway- move on.
Abdul Karmach, Principle
Sunrise Property Group, LLC
P.S.-This list is completely new. All properties are completely unseen, not some recycled rejects that other investors have turned down. These newly acquired properties are being released for the first time in this offering, so don’t miss out… and kick yourself for the next six months.
P.P.S-By the way, they will be definitely sold to the highest bidder next Thursday, October 30, 2008. So don’t dilly-dally around … move on this NOW!