Question for John Hyre


#1

John

I bought your report on First Time Homebuyers & have a question. Yesterday a tenant & I met with a mortgage broker to qualify him. He has a good job & easily makes enough to pay the mortgage. Unfortunately he also has some long time dings on his credit from years ago. He is a typical dimwitted tenant; he will save up money to buy a nice car but not to pay off some relatively minor items that “were not his fault”. Anyway we convinced him to take care of these items but it make take a couple of months for this to show up on his credit report.

My question is: “Any chance that the First Time Buyer credit will be extended beyond Dec 1, 09?”

Tks

Dennis-KY


#2

They are talking about extending it, but I have no idea how likely such an extension is. Part of it depends on how connected the sponsors are, how badly they want it, and what happens in the news between now & then. So there is a chance, but how good of a chance I cannot say.


#3

John,

Can’t wait for the meeting this week and I want to thank you in advance for setting the entire thing up! You offered us the opportunity to send you details on a deal we might be working on, and I have a quick newbie question?

I signed a confidentiality agreement on the deal I am currently working on? If I take the name and location of the park, and the names of the parties involved (broker, seller, etc.) am I okay, or am I in breach of the confidentiality agreement I signed.

What information would the group need to tear into this deal?

Okay so maybe two quick questions…

Beck


#4

Probably still a breach in the technical sense, but extremely unlikley to be an issue if info is properly sanitized. We can privately discuss ahead of time. Number of lots, local rents, # of park owned homes, sample P&L would be good start for evaluation. We do not need to know location, except for perhaps state in which property is located.