Mike's Blog

After many years of working all aspects of Real Estate, several long term industry professionals have formed a business to find solutions to the unique problems found in todays markets.

United Solutions offers services to asset managers and fund managers to assist in the sale and marketing of Bulk REO packages and Non Performing Note Packages.

We are seeking small packages of geographically concentrated properties that we can market to our investors. Recently, we located a package of 29 homes in Birmingham, and then another 18 homes, and then just had 15 more warranty deed properties offered in Birmingham as well. 

This afternoon, one of our Hedge Fund Sources provided United Solutions with 2 new Non Performing Note Packages. Both are heavy concentrations of Fl Properties, and the buyers for these types of deals will need to have experience in

1) Servicing Loans

2) Working out Short Sales

3) Offering Deed in Lieu of Foreclosure

4) Re Financing Existing Homeowners

United Solutions has many of these services available, and we are ready to offer exit strategies for interested parties.  

The REO packages are available on a line by line "Cherry Pick" basis, so we can work with investors that wish to buy one or more homes in their area.  Please have a Proof of Funds from the end buyer ready at the beginning, to avoid delays.

Finally, United Solutions offers Funding for a variety of deals. We offer Funds for Rehab of Properties, and offer short term funding for deals with certain exit strategies. Finally, we offer Transactional Funding for special deals that require very short term financing for just a day or so. 

We have a department that can market properties long distance, and prepare templates for blast marketing on a number of networking sites at one time. 

Welcome to United Solutions of America, LLC.

Providing Exit Strategies for Problem Assets Nationwide.

My new Blackberry Tour is an amazing phone. It has all the capabilities of my last Blackberry, which was a Curve. However, when my buddy at the Verizon store said he could get me twice the phone for zero dollars out of pocket, how could I say no.

Well, one of the many things this phone comes with is the neat alarm feature.  Since I lost the instruction manual almost immediately, I am not sure what I did to turn on the alarm.  And I will admit I have not spent a lot of time trying to figure out how to turn it off. 

Because, with the time now set at 5:45 ( setting the alarm time is easy ) I place the phone across the house, on the charger, next to the coffee pot. So, in order to cut the alarm off, I must get up and get it. While I am there, I make the coffee. I feed the cats. I take the first cup of very strong coffee onto the back porch and enjoy the quiet of the morning..........for about 7 minutes.......then the regular alarm goes off, and its time to start the day for real. 

But those first few minutes of watching the birds and squirrels in the pre dawn of morning is very special.

Its going to be a really nice day

Its the business that we choose, this Real Estate Game. Some days seem to be moving backwards...

Today we made progress. After putting signs back on all the properties yesterday, today the phone was ringing off the hook... I get better at passing the ones that need financing over to some local mtg brokers who have the job of grooming the good ones for future business. I wish them well, its really tough in this market to get a loan.

That leaves more time to spend with the ready to go buyers. Working with cash investors is always more productive. Little by little, we establish a trust that carries over to the next deal. Today we had multiple cash offers on properties, and tomorrow is the same according to the schedule.

Some of the current buyers are attempting to get partial financing, and its a bear with even 50% down. Whooda thought that buying a home at 70% of value and putting 50% down would have trouble getting a loan. Well today, I had two local investors offer to buy the homes and do owner financing with balloons...Shoot, I like balloons, make mine a giraffe.

A lead came in today off of Active Rain.....wow, thats been a while since that happened...Local doctor/investor needs to sell a few rental buildings...will have the pro formas done tomorrow and send to investors looking for cash flowing properties..  Thanks Active Rain......

I now am working full time in HUD homes in Central Fl with Trent Realty....We have 7 counties and the phone rings off the hook. My job would be made much easier if the other agents pushing thier bandit signs all around our listings would stop the misleading advertising....$100 down buys this home...100% financing available..ect..... confusing the public is such a waste of time. Educating them would be more professional....THis practice makes the poor buyers feel like they're entering a sleazy used car lot....buyer beware. We should, as a profession, rise above this level and just do our jobs with integrity.

Also, there are RULES for working HUD homes, and these other agents are BLATANTLY breaking them. I go to my listings and see the yard full of bandit signs....from Real Estate Brokers....clearly breaking the rules, and confusing the public with all the misleading crap on thier signs.  Whats worse, yesterday morning I got up very early and made the rounds to all my listings.......my signs were pulled and these jokers had thier signs in the yards over the weekend.  I had my digital video camera with me, so I did a video to document the violations and sent it to my home office. I called the brokers whose signs were there, and got a response that HUD does not really enforce the rules, and they will not stop until they were forced to. Of course no one admitted to pulling my signs......

Now, I still get a LOT OF CALLS......I am amazed with how uninformed the average caller is to the process. Mainly, they learn from the signs that only say $100 down buys  this home, and from the very misleading websites that are there just to get the buyers locked into their web before telling them the real truth on getting them a HUD home.... Its easily twenty calls a day from those who want to start the paperwork and have the hundred down right now......Good thing I have unlimited minutes...

I did take the time to learn the HUD process, and the basic rules are laid out in pretty basic language in a PDF document that I am happy to forward with my initial package. The biggest problem we have is that the owner window is so short, and the buyers have not met with a bank or broker to get pre qualified before starting to look around for housing. 

I have begun putting "Get Prequalified First"  on my signs, and that is at least starting the conversation on the right foot. It would be very helpful for the agents in the business to quit the garbage signs that mislead the public and stick to providing a service to the clients. 

HUD homes are an unbelieveable bargain in many cases, and I for one am on a campaign to educate the local public with the REALISTIC PROCESS involved in becoming pre qualifed to buy...including the way to bid, repair escrow, the 3% closing cost misunderstanding, ect...

I will be willing to bet that 80% of these deals go for cash investor buyers, simply because we are not reaching enough individual buyers to have them ready and able to properly pull the trigger.

On a final note......I love cash investors...I understand their motivations, and there are no games.... 

So this is the post that will put me over the top of the 100,000 point mark. For the last day or so I have been contemplating what should be in this landmark post.

I thought about placing links in here for some of my favorites.  

I thought about quoting some of the posts that generated phone calls from agents across the country, who are still friends to this day.

I also thought about the many people who used to be so active here and now have moved on to other professions. Tough times have taken thier toll.

I think about the posts that have gotten me featured, every one of them was kicked out in about five minutes with little effort.........and those got featured and I still can't believe it. 

I think about the ones that were meant to be funny, like the pink bunny slippers and beer bottles story...true..

I remember not being able to sell a place in the country, and reading about how someone else used Craigs List, so I tried it....and got a all cash offer in the first week. 

But mainly I remember how much I learned from those across the country here on Active Rain. I remember how fascinated I was with the writings of some of the early contributors, and how I spent hours reading their posts and felt like I was gaining valuable insight.

I marveled at the differences there were in the Market when seen at a Nationwide Level. From Washington State to Washington, DC, down here to Sunny Fl and everything in between. I witnessed the struggles, the personal and professional trial and tribulations of so many people that I began to feel like I knew them. 

People called me too, reacting to stories I had written. Strangers became friends, and the Active Rain network became more than a website...It was a true phenomenon..and I have been happy to have been a part of it.

I have to thank Broker Bryant and Scott Daniels who encouraged me and countless others to visit Active Rain back years ago. Since then, there have been hundreds of interactions across the country, but these were the first, with out them I may have never gotten started.

I was never here for the points. But in this world, there are milestones that are reached. This is such a milestone. 

The last few weeks I have been working the HUD Beat..That is I feel like I am getting beat up working all the calls that come in from all the people wanting to talk about HUDs..

Why is it that people put all thier faith in these signs that pop up around all my listings..."$100.00 down to buy this home."...stuff like that.. So every body calls to see if they can buy this home for $100. down....Its a HUD home, right??? 

MY SIGNS SAY HIGHEST CASH OFFER, MAKE A BID ON THIS HUD HOME

HUD homes are a great deal if you will repair the damage done by neglect, or from the prior homeowner that decided to strip the home of everything not bolted down. But, thats what it takes to claim the prize. Cut the grass, trim the overgrown bushes, and replace all the incidentals in the house... Change out the paint and carpet, add appliances, and you will still be in a home for well under current value.

But PLEASE..........understand that you still have to qualify for a loan. Even with a cash offer, there is no free lunch. You still have to pay for inspections, turn on utilities, get insurance, ect....its still a real estate transaction. There is no deal that will get you in for A HUNDRED BUCKS..

 So, if you are one of those brokers who likes to play the bait and switch, the lie to get a buyer lead kind of Agent, then keep putting out those signs....  In my opinion, you are wasting everyones time....At least the car sales ads have to have an asterisk in their commercials.

$100.00 Down for HUD homes....I don't think so 

For anyone that has seen me post before, you know how I feel about the smoke and mirrors game of BULK REO.

I am now direct to 3 sources of this product, and can prove it.

NEW UPDATE !! 

HUD homes in Central Fl are now available thru me since I joined Trent Realty, Inc. Trent has the contract with HUD for seven counties. The cash buyers looking to invest in HUD homes should contact me to get thier package ready in advance to make a bid. Why?? Ask two of my investors that last week lost out on some great deals because they were not ready. The bids are submitted electronically, and we have to have a small bid package in place to place a bid. 

Since the HUD system takes the first qualifed bid that will close the deal, taking time to get your bid package together in advance is the key to successfully securing properties. I will be glad to assist any qualified cash buyer in getting set up to be prepared. 

As for BULK REO, I am the seller rep for an Investment Fund that is actively purchasing pools of homes. The inventory from this source changes daily, and is only available to cash buyers. To be more clear, they only deal with a buyer that will write a check to purchase. No intermediaries need call. 

Everything I have written here is verifiable  as Gospel down to the last detail. When you are ready to buy HUD Homes, REO Bank homes or Notes, then please contact me. We have a very simple protocol and are down to making a deal in minutes if you are interested in buying or selling. We only sell what is in inventory NOW. It is unlikely that we will have Southern Cal ever. Cherry Picking on most packages is allowed for a premium, however there is ZERO tying up a package while doing Due Dilligence. Please perform Due Dilligence first, then place an offer for purchase.

So, now if you want to buy one property, or one note, I have several sources to take you to. However, understand that it is always first one to hard escrow that wins the deal.

FAIR WARNING>>> Conference calls that are accepted with my principles will be cut VERY short if YOUR actual principle buyer/seller is not on the call. Life is to short and we dont need the practice any longer. Serius buyers and sellers will appreciate the opportunity to get down to business and make a deal.

First and foremost: Mike Norvell Sr is now with Trent Realty. We work as marketing agents for HUD & REO Bank homes in 7 counties in Central Fla.

I now am representing all of Lake County, Fl HUD Homes, Lake County, Florida REO Bank Owned Properties for Trent Realty. Bidding on these HUD HOMES in Lake County, Florida requires a certified check for escrow deposit and a HUD HOMES official contract.

Presently, I have HUD HOMES for sale in Tavares, Eustis, Leesburg, Paisley, Montverde, Clermont, and Sorrento which are all in Lake County, Florida. I also have new listings for HUD HOMES for sale in Orlando, Apopka and Winter Garden, Florida.

The HUD HOMES and BANK REO HOMES are set at BID Pricing and must meet all DISCOUNTED HUD HOMES requirements.

WHEN LIFE GIVES YOU LEMONS>>>>>> MAKE LEMONADE!!!!!!!!!

Finally, I have something to sell that is priced right, and is not SHORT SALES. These Discounted HUD & BANK REO HOMES are ready to purchase the minute I put the sign in the yard. For an UPDATED LIST of HUD HOMES in CENTRAL Fl, or BANK REO HOMES in Central Florida, please don't hesitate to call. The list is updated daily, and I can put you on an automated update for these Hud and REO Bank Owned Homes for sale.

Its been a long ride thru the amusement park of Real Estate the last few years. Who would not agree.

Most, or at least many, Realtors and Mortgage brokers were not prepared for the crunch that hit in late 2007. I remember that the only deals that I was getting done were the cash buyers or homes that were severly discounted, and even those homes are under water now.

But, somehow we made it, kept our licenses, and kept finding ways to keep earning a living. I know I was fortunate to have landed a nice gig with a Developer who was seeking discounted stalled projects in Fl. They weren't hard to find. In fact, it became harder to not see one just driving down most any highway in Florida. Meeting developers from accross the state showed many common themes, very intelligent people were not prepared for the boom to bust.

Of course, there were the months of working deals thru short sales....some went, most did not.  I don't know about everyone else, but I kept tabs on all of mine deals, (over 70) and saw them sell for tens of thousands less than the cash offers we had submitted earlier.

Then the last year was doing BPO's for companies that wanted to pay less and less for more work. I was lucky to have found a few groups of invetors that had me do analysis of smaller portfolios and projects around Central and South Florida. At least those guys paid a decent amount to make it worth while!

But finally, there is light at the end of the tunnel. All reports I see show that this trend will continue for a few more years here in Florida. Now, while this is not good news to anyone attempting to sell thier house under normal circumstances, (like my own Brother) it is a boon for those who wish to buy homes at prices not seen in many many years.

So, after much time of playing in the sand box, its time to work with these distressed, highly discounted  properties full time.

I am now selling for Trent Realty, who have contracts in seven counties to market HUD & REO Bank Properties.

Call or email me for the current list of homes in Central Fl. In dealing with HUD & REO Bank Properties, you have to comply with very specific criteria to bid and purchase a property.

My beautiful wife, Teresa says its time to go to the mountains again, so lets contact Mike now so we can reserve our Cabin in the Smokies again this Fall!!!

Contact: Mike Norvell Sr

                Trent Realty

                MikeNorvell@earthlink.net                 (352) 408-7111

For a multitude of reasons, I chose to take a break from this and

all other forums for the last few months.

During this time, I rediscovered local markets and real life deals far removed from the fantasy land of these multitudes of internet offers. I rediscovered working every day with real people while enjoying the simple pleasure of a weekly direct deposit into my own bank account every week.

Had a great experience working with a marketing company that put me in contact with dozens of small business owners per week. Funny how those who have to stay rooted in the reality of running a retail business don't have time for endless conference calls or extended lunch meetings.... Dollars are tight, and most were eager to explore a potential solution to thier falling revenues...primarily caused by less customers coming in thru the door to their business.

Its not funny to listen to how many are scraping to get by, or who are waiting on a change in the "economy" that will return their customers. These are good, honest, hard working people who, like me, worked thru thier financial saftey net to reach the point that it was make it or break it time. I swam away from the sinking ship, many I saw are riding it down.

Many of these business owners are not yet in the statistics of the unemployed, but are in effect making less than minimum wage. (Sounds like a lot of Realtors and Mortgage Brokers!!)  Many have employees that are closer every week to being officially unemployed, along with the store owners who will be closing up one day for the last time.

I did find a few wholesalers who are doing well, buying up remaining stock inventory for pennies on the dollar from stores that are closing up. One in particular is so overstocked he now has a few of his own stores running just to have a place to put all the merchandise he is accumulating.

It reminds me of a year ago when I was working with a few RE wholesalers with quit claim bulk REO packages. They were buying them cheap but were having problems in getting them sold...... However, at the right price, they were all eventually sold....but the profit margin was not what was anticipated.

Its not all bad....but not so good either. There is a real commercial/retail problem coming along soon here in Central Fl. Already, there are shopping centers with just over 50% occupancy and many industrial parks are in the same condition. Based on my recent surveys, this will continue to worsen as more and more small business owners finally close thier doors.

Of course, many of these failing business owners have not been paying their other bills either.....like health insurance, mortgages, car payments.....

The only upside is that one day the tipping point will come where the remaining stores will end up with a proportionate share of the customers. These are the ones who will survive. Through a combination of luck, stubborness and real business managment skills, these are the ones who will shape the economy of the next ten years. Again, sounds like the Real Estate business too.

In the meantime, my days of meeting with business owners across Central Fl has reminded me of the simple business principles : the balance of supply and demand as was taught to me in a business law course many years ago.

Just a few of my thoughts this beautiful Sunday morning. Somewhere in this blog post is a silver lining of opportunity, but with the realization that for every "deal" there is someone walking the other way suffering the loss.

To Our Success.

Mike Norvell Sr

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Mike Norvell Sr., Norvell Consulting Group