Hi:

I am a new member to TCS Foreclosures. I signed up and my first course began July 28, 2004 and I completed my 8 week foreclosure course September 15, 2004. I’ve been keeping myself business since the courses I took with TCS Foreclosures. I have been trying to utilize everything while it’s fresh in my mind.

I have worked with five properties since inception. The first two were homes that the values of the homes far exceeded the balances on the property and therefore the lien holders were unwilling to work with these properties in a short sale. However, working with these two homes gave me the opportunity to attempt to negotiate and settle junior loans, works with the county, school, and mud tax offices, and other situations to bring a home to closing. Both properties were taken back by the 1^st lien holder. The experience was invaluable for the knowledge that I gained as I attempted to purchase these two properties.

I have been working with a property that has a balance of $120,000 and I negotiated the VA to $72,800 cash deal. Once I had control of the property with a warranty deed in my name, I placed an ad in the local newspaper and showed the home for less than a week, before I even had the lien holder really working with me, I found an interested cash buyer. The contract on this property has a sales price of $90,000 and a closing date on or before November 18, 2005. We are waiting title commitment.

I have been working on another property that has a balance of $168,000. I successfully negotiated a VA compromise short sale after $127,600 cash. I place an ad in the local newspaper and have placed the property on the market for $160,000 + closing cost. The property is listed on the 2004 county tax record for $181,000. After my first weekend, I have two potential buyers. Closing in November 5, 2004.

My last project is an acquisition and development potential. This is a small development project f 25-30 acres. The required capital is approximately $425,000 and the net profit after Phase I for access to lots, clearing, water, electricity and building site for custom home is approximately $250,000. There is a Phase II for the build out of custom homes on these lots. We have already approached custom builders in the area and have interest for these lots. We require the funds for this project but not the expertise in this industry. My partner has 17 working in the industry performing the research for potential property development, the proposal write up, the contracting of the work and the full management of the project from start to completion.

I am interested in working with TCS Foreclosures and new investors. I am seeking serious investors that can produce the funding when I bring the property or project to the table. I like to work with cash deals but I want to be sure that the funds are in place to back me up. I like to find the properties, perform all the due diligence, identify the exit strategy and complete the property transaction. For this, I look for net profit to be split 50/50. There is always room to negotiate depending on the individual situation of a property. TCS Foreclosures has continued to help me along each step of the way.

Sue White