Mike Norvell Sr / Norvell Consulting Group

Its another Busy day at the office Of Blount Development Group.

And we are proud to announce that we are finally direct to several banks, and have created quite a contact list.We are working with quite a few attorneys now from accross the country, it seems they hold the keys to many of the distressed assets.

Our new website at www.AssetsClearingHouse.com has brought in another few leads from buyers agents looking for the elusive REO properties. We are also dealing in NPS and other Notes, but that is another story.

You know, the ones that can be bought for 35 cents on the current BPO, and are in my neighborhood so I can go by after lunch to look at them. I talk to all of them, and remember that there was a time when I was looking for basic knowledge as well.

But, all in all, we have found some very qualified people thru our new site, and we have deals in the works as of this moment from these people. Others are just curious, and are very interested in learning in this phone call or email what it has taken me over a year of intense research to learn.

But yesterday, I had a very nice lady who said that she was calling for her husband, and she was to get infomation and then if he was interested, he would call me back.

Poor Lady, and then she said it. "Now, I don't want to get this wrong, so how exactly do you spell REO??"

You really hate to laugh when the other party is being so serious, but I really can't help it. In the midst of a very busy time of extremely serious conference calls and high finance, this nice woman has got my full attention now.

Gathering my composure, I say very carefully , Ok Mrs *****, do you have a pen? ALright, Its R E O. Did you get it that time? Great, I will send out a welcome packet for you and hour husband to look over, and our minimum is 5 million, so have a nice day and tell your husband we appreciate the call.

I haven't heard back. I hope she didn't shoot her husband .

Hello all

Its been a while, but DevelopersCapitalRealty.com has gotten a make over on its old website.

Now, its not perfect yet, just much better. We have big plans, and its just in the beginning stages.....

We are working on some things, like auto responders and the contact me forms, but all in all, its a cleaner look.

We are also working on the Fla Deals page, which will showcase Fla properties and bulk purchase opportunities available to some qualified buyers.

We will soon have an auction page, full of details and final dates to get in your bids.

I will of course love to listen to any feedback.

Thanks, and I will see you at DevelopersCapitalRealty.com

Hey all you Active Rainers...I have been working on a new website.

Its just getting off the ground, and we are now getting the actual content squared away, the links working, and are looking forward to the pic tables that will actually do button rollovers , meaning that a "button will react in different ways when the mouse just rolls over the area..

We we playing with other types, but the loading times were not acceptable. The roll over buttons give just enough info for someone to get the idea, and load in apporox 1 second..Thats quick enough!

http://www.assetsclearinghouse.com

Whats http://www.assetsclearinghouse.com ?

Its a website that is and will be a source for distressed properties, notes, and REOs to be showcased in one spot. Right now, the bugs are being worked out, but its just a matter of time before the fine tuning is done.

Right now we are working on setting up more local Broker partners to work with us across the state, and soon we will be looking for partners across the country. Lets work together to make some deals happen!!

WE HAVE GREAT NEWS.

After months of effort, We have finally gotten into a reliable source for NATIONAL REOs. We are primarily working in the FL market as of today, but we will be dealing on a national level within weeks. Like anything, its all in the details.

As of right now, accredited buyers that would be interested in acquiring great deals on below market properties should register at the website. The minimum amounts are in increments of 5-25 million, but we are working on a program that will allow smaller accredited investors to pool resources to arrive at these minimums and retain the volume discounts.

Due to laws and criteria above my pay grade, I am not going to go into these details, but your local attorney can assit in putting this together for you. The best deals are starting at higher levels of packages, and some are down to 50% of current BPO pricing, plus fees and closing costs...

Well, back to the deals. We are very limited on what we can say about the deals until all the paperwork is completed. If you have a client that is interested in REO bulk packages in any area of the country, and are tired of all the bull that we have all been thru, then this is the right time to get with us here.

There are very stringent protocols to go thru, please don't be offended when at some early part in the conversation where I have to ask for your email address to send you a package. Without all the Paperwork, all we can have is a nice talk about the weather. But, with the paperwork done, we are ready to get down to serious business.

http://www.assetsclearinghouse.com

There is a contact page here for information abut you, and why you may wish to join us, or just would like to know more...fill it in and I will get back with you soon.

Ok, I admit I have left the AR icon on my desktop to get a bit dusty.

After all I have ever said about Active Rain, I do admit that somehow I have gotten out of the habit of clicking that little AR button.

I have so many new buttons now. I have joined Linked In, Plaxo Pulse, REO Experts, Lets Network, Topix and at least a dozen more in the last month. I have written countless articles, little mini blogs on these sites, never once giving the content the thought that I ever did here.

I have also came back here, sneaking in the night, to steal some of my old blogs to put on these sites. Its not stealing when you wrote it, RIGHT??

I finally have a Blogger page too. I have started a few web sites, went crazy with my Pay Pal acount on Ebay, I think I have about 12 new web sites now.... I gave them to my son to manage...I don't have time to keep up with all of that stuff too.. My phone is so busy with calls that I had to increase my minutes to infinity to avoid the dreaded overcharges. I am also learning about Discount Notes, performing, non performing, MTNs, all kinds of notes. I am in the middle, beginning or near the end of a number of REO deals, and finally we were set to close on a small one. Wow.....a closing!

Now, REO deals are considered small at anything under 20 million. So, I came creeping in the back door with my first actual request, my first LOI, for a custom order for 5 million. I had been trying to get in the line for some of these bigger ones, had 17 million almost but then the package was yanked to go to a faster Cash buyer. We were trying to do a 100 million with about 4 other participants and we could not get the cash together all at the same time there either. Another deal gone. But, we are sure meeting lots of new people.

So, when one of our "Smaller" investors wished to do a 10 million dollar deal, which could be bought for 5 million, I swallowed my pride and started putting the deal together. Now, mind you, Bulk REOs have a whole different language to learn. There are PROTOCOLS to commit to memory. There are endless forms, agreements, and an entire industry of former title agents and mortgage brokers out there peddling the products. I challenge most anyone just getting started and find a real REO package THAT CAN BE BOUGHT, PROOFED AND DELIVERED in a week.

A few months back, I heard the chatter in the industry as to how difficult it is to actually find your way thru this maze. To say that this field is full of liars, cheats, backstabbers, wanna be's, and low lifes would be quite an understatement. I thought that certainly, with my contacts and time that I had to spend, I would be on top of this mess in a matter of days. I was wrong. .............I was very wrong.

But, back to the story. I finally had a buyer. Actually this buyer had been part of a package before for a larger amount, ready to carve out about 8.6 million for himself just a few weeks before. So, 5 million was not what I wanted, but I decided to just get this actual first deal out of the way.

OKK.............Papers done, agreements drawn, custom package ordered for proofing, days involved in doing the details........Now the buyer has "EDUCATED" himself and thinks he can get his custom order for 15% less. Please cancel the order while he checks this out. What!!!!! Apparently his partner watches all the financial shows, in between flipping back and forth to Jerry Springer.

We have not hit the bottom yet, says his partner...........He was watching on some TV show and "THEY" said there is at least another 10-15% to go.....

A brief explanation is in order. We buy off CURRENT BPOs, and then get 50% below that...I think that MAY cover a possible future drop..just maybe.

Well, when the bottom hits, it will be in your rear view mirror. It will be months behind you, and the profits you could have been making NOW will belong to someone else. Please go and waste someone Else's time. The bottom does not matter when you are buying so cheap..........A final word....Pigs get fatter, hogs get slaughtered.......think about it.

Me, I have finally found my way thru the maze. I have several sources for real deals, and they really do get snatched up in days. I now KNOW that we can do custom packages, anywhere in the US, for a minimum of 5 million. They will not all be at 50%, but right now thats what we are finding for packages with zero to light rehab types of homes. Certainly cheaper houses can be bought, but time and money is important to many investors, why take th echance with buying homes with huge damage and uncertian budgets...I know that right now there is plenty of nice stuff available.

Call me if you need help in getting a deal done. I have the minutes on my phone now.

Call Mike Norvell Of Developers Capital Realty(352) 365-6464 Cell (352) 408-7111

Visit Mike at Developerscapitalrealty.com

AND SOON AT http://www.assetsclearinghouse.com