WHAT ARE HEDGE FUNDS????

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In the securities world, the term “Hedge Fund” does not necessarily imply any use of “hedging” as commonly understood; for example where commodity traders use options to “hedge” a commodity position. Presently, in the securities world the term “hedge fund” refers to any type of Private Investment Company operating under certain exemptions from registration under the Securities Act of 1933 and the Investment Company Act of 1940. “Hedge Funds” are often referred to as “alternate investment vehicles” and are tailored to the needs of sophisticated, high net worth private investors. A Hedge Fund is generally structured as a limited partnership having a general partner responsible for the investment activities and day-to-day operation of the fund, and limited partners who are the investors supplying capital but not participating in trading or operations of the fund. The limited partners have limited liability. That is, their exposure to loss is limited to their investment. The General Partner has unlimited liability and is liable for the activities of the partnership. The General Partners principals limit their liability through the use of a corporation or limited liability company as the General Partner. (Of course, the principals cannot limit their liability from the application of the anti fraud provisions of the Federal Securities Laws.) All of the investors’ capital is pooled and is utilized by the General Partner or Investment Manager to implement its trading or investment strategy.

?Hedge Funds are “Non-Public Offerings.” The private offering exemption prohibits Hedge Funds from making any public offering. Therefore, Hedge Funds are prohibited from general advertising and generally secure investors through word of mouth, consultants, registered representatives, brokers or investment advisors. Hedge Funds have investors that are either “accredited investors” or “qualified purchasers.” In general, the Federal Securities Laws define the terms “accredited investor” and “qualified purchaser” in terms of minimum asset and income threshold that must be met before they qualify to be investors in the Hedge Fund. Since the Hedge Fund generally limits investment to “accredited investors” or “qualified purchasers” both of whom are required to meet certain minimal asset and/or income thresholds, the Fund Manager or administrator must gather background information on potential investors to determine whether they meet the minimum requirements to be “accredited investors” or “qualified purchasers.” By making a non-public offering to certain kinds of investors, (accredited investors or qualified purchasers) the investment vehicle will be exempt from registration requirements of The Securities Act of 1933 pursuant to the safe harbour provisions of Rule 506 of Regulation D. Where the investment vehicle is limited to no more than 100 investors, and otherwise complies with the safe harbour provisions of Regulation D, such an investment entity is exempt from the extensive regulation pursuant to Section 3(c)1 of The Investment Company Act. Section 3(c)7 of The Investment Company Act offers a similar exemption to private investment companies with “qualified purchasers” as investors.

As an unregulated entity, the Hedge Fund Investment Manager is free to undertake greater risk on more volatile positions thereby exposing investors to potential substantial profit as well as substantial losses.

?Typically, Hedge Funds provide for the payment of an Incentive Allocation or Performance Fee to the hedge Fund Manager/General Partner. Performance Fees range from 20% to 40% depending on the strategy employed by the Hedge Fund Manager. Typically, the Performance Fee provides for a “high water mark” structure which provides that incentive fees are paid only to the extent that the fund continues to meet or exceed the “high water mark.” Additionally, typical Hedge Funds include Management Fee of 1% to 2% of all assets under management.

?Generally there are two kinds of Hedge Funds. On the one hand, there are the huge worldwide funds operated by charismatic managers such as George Soros. On the other hand, there are small boutique-styled Hedge Funds identified with a particular segment or investment strategy. The Fund Manager’s expertise, experience and background in recognizing investment opportunity will dictate that fund’s particular niche. For example, there are the “Biotech Hedge Funds” which are managed by experienced and highly qualified investment managers who may also hold advanced degrees in science and medicine. There are “Tech Hedge Funds” specializing in the technology sector managed by individuals having specialized experience trading in that sector. With the emergence of day trading and the availability of the trading technology, a number of floor traders and brokers are leaving the traditional brokerage and exchange venue to participate in the computer screen trading phenomena.

?The boutique “Hedge Fund” typically relies on the particular skill and expertise of the Investment Manager or Trader. The highly specialized Investment Manager may utilize a “Sector” style of investing focusing on a particular industry or economic sector. Conversely, an Investment Manager utilizing a “Market Neutral” style will maintain a portfolio of securities which are generally ? short and ? long. Some Investment Managers utilize a “Value” investment style based upon assets, cash flow and book value; while other Investment Managers follow the “Emerging Markets” style and invest in emerging and foreign market equity and debt. “Trading” funds utilize an opportunistic investment style taking advantage of market trends, events and opportunities for short term profits. Each Fund Manager develops and uses a particular investment style that is unique to the experience, expertise and personality of its manager.

?Unlike Hedge Funds, Mutual Funds raise money publicly; are highly regulated by the Securities and Exchange Commission, the Internal Revenue Service and other agencies; and offer investment diversification and are restricted from purchasing many types of derivative instruments, leveraging, short selling and other kinds of transactions.

?Unlike the Mutual Fund Managers, the Hedge Fund Manager generally invests in the fund that they manage and participate in profits as well as risks with their investors. Unlike the Mutual Fund fee structure (which is determined on assets under management) the Hedge Fund Manager receives incentive allocations on performance.

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The trend of buying foreclosure properties has witnessed a steep rise in the past couple of years. Today, banks and other financial institutions around the world have an abundance of bank foreclosure auctions and the growth of foreclosures is expected to continue in next few years.

Buying a bank owned property offers the buyer several advantages over buying a foreclosure. The major advantage of buying from a bank is th at there are no liens or judgments on the property and there are no back taxes due. In addition, there are no tenants to deal with or evict and the property evaluation process can be done easily. Moreover, every bank foreclosure has reasonable down payments and most times, better interest rates.

A foreclosure investment can be a real benefit if the property the buyer purchased does not require any repair. This can allow the buyer to purchase the property quickly without any delays. In addition to this, there are no unpaid taxes to be concerned about and no issues with evicting the former owners. In most cases, banks assist you in acquiring the property so they can get it off their books as quickly as possible.

Another option is reselling the foreclosure to another buyer and making a profit. This has been the most common procedure adapted by many real estate agents. In addition, the buyer can do some cosmetic renovation on the property to increase the value of the home and result in an even higher return for the investor.

Bank foreclosures are also referred to as “REO” properties (or Real Estate Owned Properties), and it is a common practice for banks to sell off these properties as quickly as they can to eliminate the costs incurred to maintain them. REO properties are many times great buys because the buyer usually pays below market value for the home. Banks typically sell these properties in “bulk” to those investors who can buy multiple properties at one time. “Buying in Bulk” can be the most advantageous way to buy property and generate the largest profits.

The last key benefit of buying a bank foreclosure is that banks are usually more open to negotiating the terms and conditions of the deal with the buyer. For example, banks may offer buyers better financing options than they would offer on traditional properties. Acting as a lending institution gives banks the flexibility to settle the terms and conditions of the loan more efficiently and in a faster time frame.

Foreclosed real estate can be one of the smartest investment decisions you’ll ever make. However, it’s not quite as easy as the late-night infomercials suggest. Before plunking down your hard earned cash you should educate yourself about the pros and cons of investing in distressed properties. The following tips can help you understand the facts and be prepared for what lies ahead.

When real estate is foreclosed it must first be placed for sale through a foreclosure auction. In order to buy auction property, individuals are required to place a minimum bid equal to the balance due on the mortgage note, along with any accrued interest, tax or creditor liens, attorney fees and other costs associated with the foreclosure process.

In many instances, more money is owed on the home than it is worth. It is rare to find foreclosed real estate that does not have liens attached. Occasionally, the foreclosed homeowner still resides in the home. The liens must be removed and the homeowner evicted before you can take possession of the home. This can be a tedious and sometimes volatile process. Therefore, it’s critical to engage in due diligence prior to making an offer on foreclosed real estate sold through auctions.

When foreclosed properties are not sold through auction, they are given back to the bank. At this point, property is referred to as “real estate owned” (REO) or “bank foreclosures.” Once the bank retains ownership of the real estate, the mortgage note no longer exists. Oftentimes, the bank negotiates with lien holders to reduce or remove liens attached to the property. The bank will evict persons residing in the foreclosed property, if necessary and may invest in repairs and renovations.

Bank owned real estate may or may not be a smart investment. Engage in due diligence and thoroughly investigate the property prior to making an offer. Start by conducting market research to ensure the price you pay is comparable to other homes in the area. The goal is to purchase REO properties significantly under market value.

When viewing distressed properties take along a note pad, digital or video camera and make note of necessary repairs. Most foreclosed real estate is sold “as is” and this can work in your favor. The more required repairs, the more negotiating power you possess.

Obtain estimates to determine the costs of repairs and renovations. If you plan to do the work yourself, determine the length of time it will take to complete the repairs, along with the cost of materials. Factor the cost of your time and materials into your offer. Just because you conduct the work yourself does not mean you should not include the cost of your time in the proposal.

If you are the handyman type and able to make repairs yourself, investing in distressed properties can be quite profitable. However, if you have to hire contractors to conduct the work for you, it can seriously cut into your profit margin.

Real estate owned foreclosures are purchased directly from the bank. Keep in mind that banks want to obtain the best price possible and keep losses to a minimum. Generally, banks have a Loss Mitigation Department who handles REO properties. Many banks list their foreclosed real estate on their company website. The name and contact information for the loss mitigator is usually posted with the property description.

A lesser known, but more profitable way to invest in foreclosed real estate is to locate private investors who purchase bank portfolios. By purchasing distressed properties in bulk, investors buy at wholesale prices. They then pass along their savings to individuals who purchase the property. Whether for personal residence or investment purposes, it is not uncommon to buy foreclosed homes from investors for 70- to 80-cents on the dollar.

Regardless of the method you choose, foreclosed real estate can be risky. However, if you take time to understand the process and conduct due diligence, you can make a tidy profit by investing in distressed properties.

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Century 21 Real Estate agents work with both buyers and sellers. This worldwide real estate organization consists of Independent Realtors who either own a franchise or work as an employee of the franchise owner. Many Century 21 agents specialize in bank owned foreclosure homes and possess the skills to produce successful transactions in this specialty real estate niche.

A large percentage of Century 21 real estate agents publish bank owned foreclosure homes directly on their website. It’s important to note bank owned foreclosures are not the same as foreclosure properties sold through auction.

Bank foreclosures are oftentimes referred to as real estate owned (REO) properties. When foreclosure houses cannot be sold through auction they are given back to the bank. Once the lending institution retains possession of the property the mortgage note becomes void and the bank sells the property for the amount they require to obtain a return on their investment.

Oftentimes, foreclosure homes have creditor or tax liens attached to the property. Occasionally, the previous homeowner refuses to leave the property. When foreclosure properties are sold through auction, the Buyer must take care of liens and institute eviction proceedings if necessary.

Once they are returned to the bank, the lender negotiates to have liens reduced or removed. If the previous property owner refuses to leave the premises, the bank initiates eviction proceedings. Therefore, bank owned foreclosure properties are generally less stressful to deal with.

Buyers interested in purchasing bank foreclosures listed through Century 21 real estate agents must adhere to certain financial arrangements. Typically, the Buyer is required to obtain pre-approved financing and provide proof of funds at the time of their initial offer.

Most REO properties sold through Century 21 Real Estate are sold “as-is.” The Buyer has the opportunity to obtain a professional real estate appraisal prior to closing the deal. If the appraisal reveals problems with the foreclosure property, the buyer will be allowed to negotiate their offer.

There are two major benefits of investing in bank owned foreclosures through Century 21 real estate agents. First, properties are free of liens and second, no buyer premiums or commissions are paid by the buyer.

Some Century 21 real estate agents specialize in working with private investors interested in purchasing property. Others specialize in working with banks and asset companies who have multiple foreclosure properties for sale.

Century 21 real estate agents offer numerous real estate services including the listing and sale of bank-owned properties, maintenance and security, eviction, interior and exterior clean-up, and maintaining utilities while the property is on the market.

Bank owned foreclosures are typically sold near market value. If extensive repairs and renovations are required, REO houses can end up costing more than they are worth. Therefore, it is crucial to conduct due diligence and ensure the property is a financially sound investment.

Last, but not least, many people are involved in bank owned foreclosures. The lender wants to recoup their investment price and the Realtor needs to be compensated for their services.

One option to avoid the middleman is to seek out private investors who purchase bank portfolios. By purchasing in bulk, private investors can buy distressed properties at wholesale prices. It’s very common to purchase REO properties from private investors for as little as seventy cents on the dollar.

In the wake of negative news after negative news stories filling page after page of print media coupled with negative outlook stories air time on radio and TV the public is found pacing the floor wondering what is going on. Fear can be a crippling emotion to many would be investors who thought nothing of buying a high priced property a year ago with little prospect of even breaking even. Everything was going to be made on the come. The savvy investor who has experienced a cycle or two now recognizes the opportunity knocking at the door. Yes, some areas will get a bigger bounce than others, BUT in the worst of the worst economically depressed areas there are deals which can make sense. There are areas where the affordability index is still good. Commercial and other income producing properties where over extension on part of developers utilized poor projection models and what if scenarios to now bring them to the cliff?s edge of financial ruin.

Per contrarian actions of the past, this class of investor gets as far away from the maddening crowds as possible. The public usually has it wrong on a consistent basis while arriving at the party late and staying too long. Whether stocks, real estate, Dot Coms or other hot and flashy investments the public investor, in far too many cases, lose. In the cases of long-term investment would be the exception with regard to real estate IF they can stand to hold it. There are high inventories of foreclosures in many areas of the country with more coming. Commercial and residential properties in trouble are ripe for acquisition. Now, the Debt Service Ratios and Capitalization rates might actually make some sense IF the price is right. In most areas, the rents have been holding if not slightly appreciating. There are exceptions of course, but overall, returns are possible at the right price. Banks and mortgage lenders are compelled to dispose of real estate owner (REO) quickly. Thus with a flooded market of foreclosures (in many areas of the country) and other non-performing assets coupled with a slow real estate market situations are ripe for working something out with lenders. After all efforts to bring residential defaults current have failed and the foreclosure action has taken place the bank or mortgage lender owns the property it is here that the opportunistic contrarian may take a shot.

It is here say with a single family home the rents are imputed for a long holding period to determine the ?strike price? of the deal. At this point there is no lack of properties to make contractual purchase offers on Real Estate Owned inventories. Working backwards, the contrarian investor will plug in the projected rents based on current market rents while backing out the monthly maintenance and upkeep, the hazard insurance, the taxes, professional management, a vacancy factor of 5% or more and other expenses. Like the massive tax changes that took place with depreciation schedules in 1986 large portfolio investors moved to a low to moderate leverage positions. The reason these properties became REO properties is that debt has the potential to suck the life out of value based returns versus similar investments. The same can be said in this scenario. A buy and flip strategy may work IF the acquisition price is low enough for a quick turn by strategically pricing the property say 10% to 15% below the market and has been put in reasonable or great shape. A little higher leverage could be considered in this instance, but until the market strengthens this could turn out badly. Deep discounts can cure many a risky investment.

Back to the watching paint dry method of renting and holding. It?s slow and steady and not as flashy as the buy and flip program.

As an example: Bob the ?Neighborhood Contrarian? is looking at a REO owned property serviced by an out of state lender in bankruptcy. A court appointed trustee is temporarily handling the portfolio of loans, where this loan is serviced. Bob has an interest in a property that is listed by a local Realtor. Originally the home had been purchased two years prior for $250,000.00. The prior owner closed on a piggyback first and second mortgage loan with a first mortgage of 80% LTV (Loan To Value) of $200,000.00 and a 20% LTV second mortgage of $50,000.00. The first and second mortgage holders were two separate lenders. The home has been vacant for over five months and the grass gets cut periodically. A string of open houses and marketing efforts have gone for naught with zero results. Bob and his sharpened pencil begin to figure returns. The foreclosure action on part of the first mortgage holder wiped out the second mortgage holder who chose not to bid at auction. When the gavel fell at the court house sale of the foreclosure sale, the first mortgage holder was the only one left subject to real estate taxes as a superior lien.

Bob determines after careful due diligence that the market rent for this property will be $1,800/month. The taxes are currently $3,600/year or $300/month. The hazard insurance is quoted at $1,800/year or $150/month. The professional property manager?s fee will be 75% of the first month?s rent and 10% per month of the collected rents. A vacancy factor of 5% is applied to the equation. The home has four bedrooms, 2,000 square foot ranch style with two baths and a two-car garage with a pool. The pool has a security fence and child alarm system. Schools and employment and shopping centers are close by. The carpet and paint need immediate attention. The appliances need to be upgraded. The roof had been replaced five years ago. Bob figures new carpet and tile will run $6,400.00 with a total interior painting color scheme change at $3,900. New refrigerator and stove and updated microwave above the stove will run $2,800 installed. The tenant will pay all the utilities and pool and lawn maintenance and minimal repairs.

The rental agent confirmed Bob?s findings that with the upgrades the rent could command $1,800/month. Bob?s investments in the market and Certificates of Deposit were yielding a little over 6% per annum. To move quickly, Bob decides to make an

all-cash offer which can close in ten days or less. The only thing better than cash in buying a foreclosure is FAST CASH. Bob continues to sharpen his pencil. Starting with the rental amount of $1,800 less $293/month (includes initial rent up) for management, $300/taxes, $150/month insurance, maintenance and reserves budgeted at $100/month and a vacancy factor of 5% or $1,800 x 12 = $21,600 x 5% = $1,080/12 = $90/month. The total projected offsets to the rent are $933/month. Taking the gross rent of $1,800 less $933 gives a gross rental net of $867.00. If Bob demands a 8% initial return on his money (not including appreciation or tax benefits) just on the surface it would be $867 x 12 = $10,404 divided by .08 (8%) gives us $130,050.00. The upgraded carpet and tile is running $6,400 and the new paint scheme is $3,900 and the appliance upgrade of $2,800 for a total of $13,100. So taking the $130,050 less $13,100 upgrades and $2,200 for acquisition costs the penciled offer would be $116,950 or $116,000 CASH with a TEN DAY CLOSE subject only to a home inspection, termite inspection, survey and a clear title. An attorney would be advised. All figures and calculations could accompany the offer to the mortgage holder with the upgrades and improvements necessary to capture the necessary market rents. This will give decision-makers at the mortgage holder company cover in the CYA game of justifying a huge write down.

The key, Bob has found is to make several offers at bargain basement prices on properties that have an opportunity to appreciate over time with benefits of appreciation.

Dealing with highly motivated REO portfolio holders will lead to an eventual YES on the offers. If Bob chose to look at this deal on a five-year basis while assuming a 3% appreciation rate the numbers might look like this. Let?s assume the original owners overpaid and the home is really now worth $180,000 as-is. In five years $180,000 would appreciate to $208,669 or say $208,000. The land has been determined by tax assessment to be worth $50,000 leaving ($130,050-$50,000) $80,050. Let’s further reduce this number by the appliances and take them over a five-year period. $80,050 less $2,800/5= $560/year. The improvement would be $80,050-$2,800=$77,250/27.5 years = $2,809.09/year in depreciation. The total appreciation would be rounded to $3,369/year. If Bob is in the 25% tax bracket he would shelter $3,369 x 25% = $842.27

In taxes per year or $842.27/12= $70.19/month. This is a real worst case scenario with the deflated value, low appreciation over the five-year period. With an on surface cash flow of $867 plus tax savings of $70.19/month = $937.19. Based on a 30-year mortgage with a rate of 6.5% with a principal and interest payment of $937.19/month would be a mortgage of $148,273. This is more than the acquisition price so to avoid PMI an 80% LTV would allow for a mortgage of $116,000 x 80% = $92,800 with a payment based on a rate of 6.5% on a 30 year loan would be $586.56/month.

So Bob, after the cash all cash closing could take out cash out refinance with a low closing cost lender and gain the bulk of his cash to buy another deal. With $937.19 adjusted monthly cash flow less the new $586.56/month principal and interest payment would leave a $350.63/month cash flow with tax savings. However, now Bob would also be able to write off an interest deduction. That would be $92,800 x 6.5%= $6,032 in mortgage interest which would save additional income taxes of $6,032 x 25% = $1,508/12 = $125.67/month in projected tax savings on the mortgage interest deduction.

So how does Bob do at the end of the five-year period? Let?s say the home is now worth a measly $208,000 and Bob decides to sell it with an 8% selling cost giving an adjusted sales price of $191,360. If the improvements are added to the basis for figuring capital gains tax. The acquisition cost of $116,000 plus improvements for carpet and tile, appliances (*some depreciation recapture may be required at sale) and paint for a total adjusted basis of ($116,000 + $6,400 carpet and tile + $3,900 paint + $2,800* appliances + $2,200 acquisition cost) = $131,300.00. On the surface the capital gain would be $191,360 – $131,300 = $60,060 x 15% = $9,009 capital gains tax. Overall on the full cash basis purchase with no mortgage: the $131,300 investment would give back approximately $191,360 in adjusted sales price. Then add the 60 months of net monthly income of $937.19/month x 60 months = $56,231.40 less $9,009 in capital gains for a total return of $191,360 – $131,300(acquisition) + $56,231.40 (net rents) – $9,009 capital gains for a net of $107,282.40. The question would be ?If I could show you a way of taking $131,300 and getting the original investment back plus $107,282 over a 5 year period on an after tax basis, would that be a good deal?? Roughly, that would be a 14.59% annualized after tax return on a Internal Rate Of Return Basis.

No one is laughing now. The continued muse of desperate sellers is ?Where have all the buyers gone?? They?re right here babies! The Contrarians are on the beachhead and moving in. The maddening crowd is on the sidelines wondering if it might be time to put their toe in the water. When the temperature of the water is just right, it will be too late. The deals are here and now. With all things being equal, value based investments have worked every time it?s tried.

Dale Rogers

http://www.brokencredit.com

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ForEx, hedge funds.?Registering with the Commodity Futures Trading Commission

Generally, the Commodity Futures Trading Commission has jurisdiction over transactions in ForEx futures and options contracts offered to retail customers, and the only counterparties that can lawfully enter into these contracts with retail customers on an off-exchange basis are persons that are: (i) registered with the Commission as a futures commission merchant (FCM); (ii) certain affiliates of a registered FCM;, or (iii) otherwise regulated, e.g., as a securities broker-dealer, a bank, a financial institution or an insurance company.

On May 22, 2008, the Congress passed the Farm Bill which, in Title XIII, contains several amendments to the Commodity Exchange Act involving the retail trading of foreign exchange.

Under the CFTC Reauthorization Act, a person operating pool solely trading spot ForEx is not required to register as a CPO at this time (but may be so required in the future upon promulgation of regulations by the CFTC).?

If?I?start up a Fund of Funds and allocate among equity?and futures funds what? kinds of registration issues do I need to be concerned with??

As a Fund of Funds you must be aware of each particular states Investment Advisor rules. Many states have exemptions from registration. Also if you intend to invest in futures or commodity funds, you should register with the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) as a Commodity Pool Operator (CPO). This?CPO’s?associated person?must successfully complete the NASD Series 3 examination.?

Must a finder be registered as a broker-dealer??

Generally, No.?Generally?a finder does not have to be registered as a broker-dealer if its finder’s activities are limited. A “broker” under the Securities Exchange Act of 1934 is “any person engaged in the business of effecting transactions in securities for the account of others.” The SEC staff has found activities such as (a) participating in presentations or negotiations, (b) making any recommendations concerning securities, (c) receiving transaction-based compensation, (d) structuring a transaction or making recommendations regarding the nature of the securities, whether to issue securities or to assess the value of securities sold, and (e) continuing involvement in sales of securities to trigger broker-dealer registration obligations.? However, a number of states, Texas and California for example, ?take the position that only a registered representative (broker) may receive kind of compensation.?

Are there any other types of finders available to issuers in a private placement??

Yes. Rule 3a4-1 provides a non-exclusive safe harbor from the definition of a broker for persons associated with an issuer who are engaged in securities-related activities incident to their duties on behalf of the issuer. See Securities Exchange Act Rel. No. 22172 (June 27, 1985). Employees and possibly individual affiliates of an issuer who are not registered representatives of broker-dealers may be considered “associated persons” for purposes of Rule 3a4-1, in which case they may be exempt from registration and will be permitted to engage in limited sales activities pursuant to the Rule’s safe harbor.?

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If you are looking for real estate investment opportunities, you may already be familiar with the terms that are implied when someone decides to purchase bulk reos. If you are looking forward in order to invest in real estate owned bank properties, you have to get all the necessary information in order to learn about the advantages that are coming along with a reo property. There are many buying options when it comes to the real estate and you must consider the option that is going to work in your own case. The real estate possibilities seem to increase on a daily basis and the reo investment opportunities are to be looked into because it can provide you with a desirable investment.

Traditional ways of buying real estates can be left aside in order to make room for the bulk reos investments; these purchases may be the perfect solution for you in case that you are looking for an affordable investment. The reo property is a property that the bank was not able to sell through foreclosure auctions. The bank will organize a reo sale in order to sell that particular property or package of properties; the main characteristic of such a property is that it has a lower price than the ones that are usually to be found on the existing real estate market. The amount that is usually owed on a particular property is higher than the value of the property itself. When this situation happens, the bank will try to sell the property but it will not choose an auction in order to achieve this. On the contrary, the auctions are usually avoided because the prices are likely to be lower in the case of such auctions. Therefore, the property will be sold through a particular realtor.

If you want to purchase bulk reos, you have to pay attention to the conditions that are likely to be implied by every transaction. You will have to pay attention to the condition of the property itself because you will have to pay for all its future repairs. Many of these bank owned properties are likely to require extra repairs in order to be maintained. For instance, some of the reo properties can actually be fixed without larger amounts of money but others may require significant repairs that will come along with significant costs too.

Extensive renovation can also be taken into consideration because some of the reo properties may actually need it in order to allow you to move and live in. This type of renovation can actually limit all your profit that may margin the initial deal. You should not hurry to calculate the possible financial benefits because savings can be forgotten when it comes to expensive renovations. Therefore, every reo property is to be examined before rushing into buying it. The bulk reos require careful consideration because you have to make sure that you can afford all the possible repairs that may be implied by owning a reo property in its original state.

All the potential and current investors can actually find these properties by searching for the necessary resources; several sources are to be used in order to compare the existing offers. Even the banks are likely to provide the necessary search engines that may help you track down all the reo opportunities. People who want to purchase bulk reos will be allowed to look for them in various locations. Every searcher may use several criteria in order to find the wanted property; he can use the amenities, prices and various factors in order to narrow down all his possibilities when it comes to finding an available reo property. The selections can be narrowed down by the search engines that are provided by almost every bank and the searcher will be able to look for the suitable and profitable investment.

You can also choose to use the so called third party listings in order to track down the available reo properties; independent web sites are to be used in order to provide yourself with the necessary and updated data. But you also have to be cautious when it comes to using these web sites; many of them can actually be trusted but you have to make sure that your judgment is not influenced by their advertises. Best judgment is to be used in order to make a safe investment that will prove itself to be profitable in the future to come.

You will have to think about the offer that you are going to make to a particular bank in order to buy one of its reo properties; you have to be aware that every bank will respond with a counter offer and you will have to be prepared for this situation too. The future bargaining is to be planned in order to know how to get the price that is going to be acceptable for you. While negotiating, you have to be sure of all your conditions and you will also have to mention all the repairs that are likely to be needed in the case of a particular reo property. Upon buying, you will also get the necessary policy that comes along with the title insurance.

Proof of Funds, Investment Services July 16, 2009——Standing behind their product and services, Hartwell Ventures, nationwide funder has promised to pay for fees associated with satisfying the condition of Proof of Funds for commercial and residential real estate, project funding, leased funding, and transactional funding, for clients if it is found that their competitors are actually using legal and legitimate funds. 

David Page, manager of Hartwell Ventures states, “We are more than confident that we are the ONLY company that actually have true liquid assets over $5 million. Other companies may claim to offer the same product/service but we have discovered through our experience in the business that in fact their documents are undeniably fraudulent and have an array of legal ramifications.  We take pride in what we do and the services that we provide that we challenge other companies to do the same in conducting business legally.”

Hartwell Ventures is an independently managed investment trust that has been providing transactional funding / proof of funds since 2001 making them the longest standing provider. They have consistently closed over 30 transactions per month since March 2005 making them currently the largest direct proof of funds provider.

Their funds derive from an independently managed investment trust with $110 million under management that is used specifically for transactional funding and proof of funds transactions. As a direct source, they place the funds within 36 hours or less and in most cases within a few hours.

They provide cash on deposit in either an escrow account or directly with the bank depending on the needs of your transaction. Their Trust is fully liquid making them the only proof of funds provider with over $5 million in real liquid funds to invest for your transactions.

They primarily provide and have experience in providing proof of funds for Double Closings, Down Payment Requirements, Earnest Money Deposits, and Verification of Deposits for the following uses:

Commercial and Residential Real Estate 

-Bulk REO

-Flipping Foreclosures

-Short Sale Funding for Short Sale Flipping

-Down Payment Funds

-Double Closings

Project Funding

Construction & Development Loans

Film Finance

Warehouse Lines

Lines of Credit

SBA Loans

Private Placement Programs

Precious Metals

Hartwell Ventures Investment Trust focus: Proof of Funds, Proof of Funds Letter, Seasoned Funds, Leased Funds, Leased Assets, Transactional Funding.

Hartwell Ventures, is located at 3960 Howard Hughes Pkwy Suite 500 Las Vegas, NV 89169. Website is http://www.hartwellventures.com, and can be reached at 888-465-2401 or 702-562-4237.