There is an old clich?hat goes along the lines of “what is old is new again.” This clich?like many clich? has a certain sense of truth to it. For example, remember in the old pirate movies where the hero would purchase things using gold coins? Well, that old school method of purchasing is back! No, you do not have to carry gold dablooms around in a sack as the whole process has been modernized. Now, thanks to an internet service called Egold the ability to make payments/receive payments in gold can be processed over the internet electronically. Yes, gold is back in a big way!

When the internet first started to grow significantly in the late 1990′s, many people forecasted that this would have a significant effect on the world of commerce. While these forecasts were, in general, true they were also significantly underestimated. Today, the amount of internet commerce that occurs has greatly expanded far beyond many people’s wildest dreams. In addition to all sorts of retail and small business sales, a significant volume of banking and financial transactions occur online as well. This has led to many unique and innovative examples of variants on traditional wire transfers and credit card and debit card payments. One such unique and innovative financial transfer service is Egold and it is growing rapidly in popularity by the day. There are some, however, who may not have heard of Egold yet and for these individuals a proper introduction to Egold is necessary.

By its own definition, Egold is “electronic currency” that is backed by gold reserves. In other words, the financial transfers processed by Egold are back by the company’s gold bullion reserves and the payments that on makes are essentially the electronic transfers of gold itself! The way these transfers work is that one opens an account with Egold and then transfers monetary value of gold to merchant accounts that accept Egold payments. Of course, one could also open a merchant account and receive payments as well in the same manner other common online transaction services operate.

There are a number of benefits to using Egold as a financial transaction service and the most important of all the benefits is that payment is instantaneous. That is to say, there is no need to wait for a check to clear or credits to be applied. All transfers are immediate and this expedites the processing of all purchases made through Egold. Additionally, because Egold trades in gold as its currency it is the easiest to system for use on a worldwide basis and is not reliant on currency conversions when transferring funds for international purchases. In fact, Egold credits can not be bought or sold in the form of any national currency. It is gold bullion and it stays gold bullion!

Of course, this brings about the question as to how one can convert Egold into hard currency. The answer to this is that there are a number of “exchange services” that can remit gold into currency. The way in which Egold is remitted varies and includes tried and true methods such as cutting a check or money order, wire transfers, or even credit card adjustments. As such, when you need to “cash out” your Egold deposits there will be little difficulty in converting it to cash.

Egold is a novel, unique and innovative means of internet payment services. Its unique nature and user friendly service will surely allow it to grow in popularity. Perhaps in time it may even overtake some of the more popular forms of online transaction services such as Paypal and Firepay. This makes it a company well worth keeping an eye on.

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A Basic Introduction To Transactional Funding (Transactional Funding, Part 2)

Friday, August 13th, 2010 at 1:11 pm

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A Basic Introduction To Transactional Funding (Transactional Funding, Part 2)

In todayâ??s lending environment, most lenders will not lend money for a transaction unless the name of the owner of a property is on the deed to the property. Lenders say that this is because they are attempting to prevent lending and real estate fraud. They say that it helps them insure that the property is actually in a position to be sold. Many of my colleagues say that the real reason is far simpler: it is a way for the lenders to make some extra money. Regardless, itâ??s in the books at this time, and if you want to flip short sales, you must find a way to deal with it.
The best way to handle this new requirement is to obtain transactional funding. In short, you need â??one-day credit.â? Sound like a problem? Fortunately, itâ??s usually not. Hereâ??s how it works, and why your credit score does not even have to be involved:
When you set up a short sale deal, you have a homeowner who is walking away from the property, and you have a buyer who is ready to pay the purchase price (plus whatever fee you have added on for your services in setting up the deal) agreed upon by you and the lender. This is an ideal situation for many short term real estate investors because it does not require the investor in the middle (you) to actually buy the property. However, thanks to this new lending law, if your name is not on that deed, then in many cases your buyerâ??s lender will not fund the deal.
So you need the funding for the deal, but you do not actually need a loan that you are going to keep up for any length of time. This means that you do not really need to go through the extended and often problematic process of having your credit checked, your income verified, and all the other hoops that you have to jump through to get a traditional loan. You just need the funding for about 48 hours so that you can purchase the property, get your name on the deed, then finish the deal with your buyer. Transactional funding does this. Basically, your transactional funding source sends you the funds so that you can do the deal with the lender. You are charged a number of loan points for this service. Then, you do the deal with your buyer, and the lender gets their money back (plus their fee) and you walk away with the difference.
Sound a little like superfluous work? It is. But understanding this type of funding will be critical to your success if you decide to flip short sales in the current lending environment.
Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1200 real estate deals, owned a construction company, been a private lender, and owned a property management company. Peter currently works with clients all over the US helping them achieve riches in real estate investing. For more information please visit www.CoachingByPeter.com.

Peter Vekselman has been successfully investing in real estate since 1996.
He has completed over 1200 real estate deals, owned a construction company,
been a private lender, and owned a property management company. Peter
currently works with clients all over the US helping them achieve riches in
real estate investing. For more information please visit
www.CoachingByPeter.com.

An Introduction To Investing In Bulk REOs

Friday, November 6th, 2009 at 12:58 pm

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If you’re new to the idea of investing in REO property, as is likely to be the case if you’re reading this article, you may still be wondering exactly what these properties you’ve heard so much about are and how exactly they’re a good value for the property investor. You might also want to know if this is a type of property investment which is suitable for novice investors. If these are the questions on your mind, then this article is for you. We’ll cover what a REO property is, how to invest in these properties in bulk and hopefully by the time we’ve finished, you’ll have a good idea of whether these investments are right for you. So without any further delay, let’s get to the first question.

What Is REO Property?

In case you’re not familiar with the term, REO stands for Real Estate Owned. This is property which has reverted into the hands of a lender; this is almost invariably a bank, credit union or other financial institution following an unsuccessful attempt to sell the property at a foreclosure auction. The banks or lenders then attempt to sell these properties as quickly as possible, since as far as their ledgers are concerned, foreclosed property is a liability, not an asset. Of course, banks aren’t in the real estate business in the first place, so it’s in their best interests to rid themselves of this property.

OK, So What’s Bulk REO Property?

Larger financial institutions especially are often left with a large number of REO properties on their hands, especially now in the wake of the credit crunch and the waves of foreclosures which preceded it. Banks are eager to pass on these properties to buyers, often selling them for greatly discounted prices. Where the idea of bulk property comes into the picture is when real estate brokers and investors will make offers to these institutions to purchase several properties at once for an even lower price.

Why Is Bulk REO Property A Good Investment?

Since the banks need to get rid of these bad investments to get them off of their books and since the housing market is still somewhat soft, there are some excellent values to be had for the forward looking investor or investors who are interested in making a rental income off of these bulk REO properties. Of course, given the very low prices at which these properties can be purchased in bulk, investors can still make a tidy sum by selling these homes even as-is; many REO properties tend to be in need of a little fixing up, but at their price they’re still most often a great bargain.

Are Bulk REOs Something Which Newcomers To Property Investment Should Involve Themselves With?

The answer I usually give to this question (which I’m asked quite a bit) is no – unless these investors are looking to make money. Bulk REOs represent an incredible investment opportunity and there are quite a few novice real estate investors who are already making a substantial amount of money from these investments; and others who are holding on to these properties, waiting for market conditions to improve before selling for even larger profits. Whether you’re an old hand at real estate or you’ve never purchased an investment property before, bulk REOs are something which you should at least consider investing in.

So How Do I Find These Bulk REO Properties For Sale?

That’s often the most challenging question, especially for people who aren’t experienced in the real estate market. There are several ways to go about it, most involving a lot of research. The important thing to remember about real estate investment, whether we’re talking about newly built commercial property or bulk REOs is this – it’s a numbers game. If there was one thing I want people to take away from this article it’s that.

You need to make lots of offers and deal with lots of different banks and other lenders, brokers or asset management personnel and do some investigating to identify properties which interest you. Especially if you’re new to property investments, you may be better off dealing with a reputable broker who has contacts with lender asset managers and is experienced in handling bulk REO purchases. Just do a little research ahead of time to make sure you’re doing business with someone who’s going to make sure that you’re treated fairly in this transaction – other than that, I hope I’ve answered some of your questions about bulk REO investments and I wish you the best of luck and profitable investing!

Duncan Wierman is a founding members of “Bank REO Property Deals, his company is connecting sellers of verifiable” product with qualified buyers. If you are interested in learning more about Bulk REO investing, his site also contains great information about how to started, interviews with other experts, along with sample sanitized tapes to review. Visit: http://www.BankREOPropertyDeals.com

An Introduction to Egold

A Basic Introduction To Transactional Funding (Transactional Funding, Part 2)

An Introduction To Investing In Bulk REOs

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