When the bank is knocking on your door, we want you knocking on ours!

Mass Real Estate Service has teamed up with a national investment company to offer an REO program that was created to give members access to foreclosed properties for pennies on the dollar without having to come up with the millions it typically takes to buy REOs in bulk. Properties are hand selected in communities across the country with a focus on metropolitan areas with strong rental markets, low unemployment, and solid fundamentals. Once we select an area we build a team of agents, contractors and property managers. The ground team cherry picks properties, complete necessary rehab and show the properties to tenants/buyers. Beware of imitators, while others have tried to replicate our program this program stands alone for 3 reasons. First properties are hand picked based on specific criteria so we are not just assigning properties sight unseen. Second there is a small markup unlike others selling similar properties for significantly more. Lastly there is an investor concierge that will assist you throughout the life you own the property. Simply put we are dedicated to your success.

Currently we are in the most trying financial recession of our times, one of record volatility, wealth depletion and fear amongst the masses. So with all this chaos and uncertainty why would we recommend investing in this REO Program?

Four Reasons:

More security: The average property purchased under this REO Program has been at 25-35% of market value. Typically in volatile times we look for security to protect our assets including gold, government securities, CDs, and annuities. While these products do provide some additional security after taxes and inflation depletion of assets may still occur. Under this REO Program your investment is backed by real estate purchased for pennies on the dollar and income based on market rents can be as high as 30% cash on cash.
(source: www.zillow.com, www.cyberhomes.com, www.zilpy.com as of 11/11/08)

LESS RISK: No mortgage means less risk. Let me explain; Debt service is typically the largest liability on an investment property, so during vacancies negative payments can deplete reserves and increase the risk of loss dramatically. All properties under this REO Program are under $25,900 which is typically less than the down payment on a $130,000 property. This allows you to buy with no mortgage and own the property free and clear. So during typical vacancies the carrying cost is minimal or non existent depending on the program you choose.

HIGHER RETURNS: While there are no guarantees of performance here are the facts on the areas selected under this REO Program. Below is a sample list of areas in the program. So for example on a 3 Bedroom house in Kansas under the Community Housing Program, which put the mortgage as the market rent, the gross monthly payment would be $6600 per annum. After a 10% loan service expense the net would be $5,490. This is substantially more than what CDs are currently paying.

  Market Rents      (source:www.zilpy.com)

Example Cities	2Bed	3Bed	4Bed	Vacancy Rate
Kansas City, MO	$550	$598	$715	6.5%
Indianapolis, IN	$625	$650	$850	7.8%
Atlanta, GA	$779	$938	$1,045	9.4%

SOCIALLY RESPONSIBLE: Most of us have been or know someone who has been affected by the credit crunch which has made home ownership incredibly difficult for hard working families around the country. With huge down payments, a lack of programs, and nearly impossible qualifications the American Dream of home ownership has become unattainable for millions. Remember when you purchased your first home and all the overwhelming feelings that came from the pride of ownership. It all the sudden became fun to fix up the house on the weekend. Imagine if you never had the opportunity to experience home ownership. Now imagine the power to give hundreds of hard working families an opportunity for home unship and how that would not only change the course of their lives, but the look and feel of the community. The supplier and its members are passionate about adding value back to the community which is why the community home ownership program was founded. When you purchase a property through this REO Program you can enroll in the community home ownership program giving this opportunity of home ownership to a family. The process starts with the initial marketing that has been rolled out on a national and regional area. In order for an applicant to be approved here are the items needed to qualify:

1. Application
2. Verification of Employment
3. Last 2 months bank statements for any listed on application
4. Last 2 Pay Stubs
5. Last 2 years W-2s
6. Last 2 years addresses and landlord/mortgage information
7. Tri-merged Credit report for all borrowers
8. Criminal background check
9. If Applicable- Disability Income Award Letter, Veterans-DD214, Proof of Alimony/Child support

Once an applicant qualifies they are registered and go on a waiting list to view properties. Once they select a property they complete a Land Contract and close on the property. From that point you receive a complete loan package and the loan servicing is set up. Your purchaser is responsible to pay the mortgage, taxes and insurance monthly and cover all maintenance expenses. While this program does not provide a free ride it does give buyers a once in a lifetime opportunity to become home owners.