I was vaguely explaining I was diving in belize and speaking with people down there about their asset protection laws and real estate investment opportunities. (I also figured by mentioning it here, if the IRS challenges my tax write off, I will show them my purpose was business at the time I had been there. ) these guys joking about me losing investors moneys are idiots... I do not manage others money. (Just my own... and recently my moms.) I am an attorney and real estate broker ( I had been a member of the san franciso exchange and the chicago exchange through an LLC but that was a long time ago.) I advise people on how to prepare themselves and their assets for a loan workout. I also sometimes do the loan workout. My brokerage has sold over 100 short sales. And, to stop the continued wise cracks... I rarely worked with buyers in the past... I have been a listing broker. The only two upside down buyer clients I have had, were people I knew who found the property themselves and asked me to rebate half my commission.
OIC. So less John Templeton and more ma and pa avoiding foreclosure. You made it appear all high brow. I don't quite get the asset protection scheme considering your clients in FC are all busto. Ahh, you mean your mom's assets. Got it. Because your clients in foreclosure wouldn't appear to have a problem with protecting their assets. Your comment about diving and asset protection was inadvertently comical. Belize is great. Been to the Maldives?
I have never held myself as a money manager... wtf is the john templeton reference. If you go back to original posts 10 years ago you will see I was a professional trader, but not a manager and when I ceased making a living trading, I said so. As far as my recent clients go, most of my clients have assets to protect, they are far from bust, that is why they seek out an attorney and not just a Realtor.
No biggie; just a curiosity that they can't refi to avoid FC, yet they're somehow asset-rich. I haven't mentioned your trading, nor have I questioned anything other than the comical connection between diving and asset protection. It was a joke. Burying treasure and all.
they don't want the upside down property anymore. some have millions in assets. if they have a larger recourse second... we have to discuss the fact the junior lender may cause the workout to fail, wait out the foreclosure and then try to collect. I have seen seconds up to a few million. 6 figure recourse seconds require backup plans and good initial strategies... Not just the typical Realtor plan of hey Mr. bank here is a road map to sellers my assets ... would you like to do a short sale? Some of my clients with the help of other attorneys have already set up off shore trusts in which the assets are placed into the trust with a pen swipe and the trusts jurisdiction happens to be in jurisdictions where the attorneys fees go to the winners and the local lawyers have good relations with the judges... That is the type of info that can be useful for people with larger assets and large mortgage debts or other risks.
C'mon man. They can't pay the nut so they blow their FICO and are asset rich? That's a pile of shit. I am not going to get into your fantasy with you. Good luck with the workouts.
have you seen how many foreclosures and pre foreclosures there are in rancho sante fe and other luxury areas... you have no idea what you are talking about.
And neither do you. Asset protection in Belize. Mr Templeton the residential RE broker... what's the govt like? Stable?
why are you being such a dick, is it because I wondered if you are an options salesman on the other thread? That is one of the concerns, as well as the fact the properties are still over priced. But, some pay for themselves, property taxes are very cheap and title is very strong... presumably as long as the govt stays in power. Not my first choice... but if properties drop 30 to 50 percent... I would think it might be a good place for a diversified investment or two.
SPX when Obama took office: 840 Current SPX: 1465 74% Prepare for another horrific four years of an Obama market!