The new version
5.1 introduces a number of new features and upgrades to the state-of-the-art
software system. Upon importing records into the database, Shark Bait
instantly determines the approximate market value of each property,
then tallies the amount of the known debts and calculates a probable
debt-to-value (DTV) ratio. This DTV ratio is the key to finding real
equity in any foreclosure opportunity. Shark Bait then even calculates
the probable current balance of all loans, using researched average
loan interest rate tables for every calendar year that can be modified,
or updated by you. The system will import, post and evaluate up to six
loans on each property as well as IRS liens, property taxes and other
liens of record. Shark Bait evaluates and re-evaluates the DTV ratio
with each new piece of imported data, or entered information.
An important new
feature of Shark Bait 5.1 is valuation by zip code. Some foreclosure
lists do not include assessor's parcel numbers or Thomas Brothers map
coordinates, so it is now possible to determine value by way of neighboring
properties located in the same zip code as the subject.
Shark Bait can sort
through hundreds of foreclosure records, based on any combination of
complex variables, and quickly find just those deals that meet your
investment parameters. With its property valuation, loan ranking, balance
and calculation features, Shark Bait will save countless hours of time
and legwork in tracking down and analyzing prospective foreclosure properties.
Flag any record in Shark Bait by either Yes or Bid tags, as you qualify
and upgrade your level of interest on each. Track, sift, group, organize,
manage, build, evaluate, manipulate, analyze, merge and archive the
ocean of data and all of your foreclosure records.
Shark Bait works
with data in either a dBase (.dbf) or comma delimited (.csv or .txt)
format. Like an engine, it needs gas (foreclosure records and sales
comps records for the local market area). These comps are readily available
from local real estate data services at a reasonable cost, or downloaded
from the MLS through a broker for free. Once loaded into the system,
Shark Bait takes it from there, providing all of the information and
analysis in logical and straightforward screens of interest.
It even checks for
duplicate, or subsequent foreclosure notices against every record in
the database, providing a pop-up screen during the import process listing
every duplicate record. With a click, records can be compared as Shark
Bait shows you just those fields of data that have new, or different
information, then allowing you to update the original master, delete
or keep both records. This is a tremendous time saving feature for tracking
and updating postponements, bankruptcies and subsequent notices on the
same property or loan.
With the built-in
Check List Taskmaster, Shark Bait walks you through the due-diligence
process for each property, making sure you don't miss a critical step.
The Mail Manager maintains a mail queue for form letters in logical
groups (NOD, NOS, Trustee, Trustor, Beneficiary) that you can customize
with a delayed sequencing for export and mailing. Once a property has
been checked into any of the queues, you can forget about it, as Shark
Bait automatically exports the records on the appropriate day for mailing,
and even logs a record of the letter type and date sent.
A comprehensive
Contact Management system ties trustees, trustors, beneficiaries, title
companies, government, contractors, supplier contacts together, fully
integrating each contact with one, or many properties that they may
be involved in. With a few clicks, contacts can even be exported to
Microsoft Outlook. Reminders, trustee sales, reinstatement and critical
date deadlines can all be posted into Outlook, complete with automatic
population of the form (APN, address, purpose of deadline or event).
Up to 6 photos per
record can be stored, along with comments on each, with the featured
photo instantly appearing on every screen of the Control Room for a
handy reminder of which property was which. With just a click, Shark
Bait automatically maps any property location, with Microsoft Streets
and Trips, pasting the local area into each record for quick reference
and inclusion in various reports.
The Repair Schedule
incorporates hundreds of commonly repaired items, in clearly organized
groups, that you can establish with your typical preferences of material
grades and labor costs. In minutes, you can click on those items intended
for repair, or refurbishment, and Shark Bait will incorporate them into
concise reports.
A Bid Analysis incorporates
the repair costs, predicted resale price, sales costs and your anticipated
bid, or purchase price together for an at-a-glance bottom-line profit
analysis.
Every detail on
every record can be pulled together in eight comprehensive reports,
pre-designed for virtually every purpose of the foreclosure process.
A clearly formatted Property Profile report organizes every detail,
while the Planned Bids report summarizes your intended bids, or any
group or records, based on any criteria. Maps, repairs, insurance binder
requests, even reports to your real estate broker and title company
are all generated in seconds.
An animated Training
Tutorial assures every user a hassle-free learning curve to getting
the system up and running. The system is designed for point and click,
operation and navigation with the familiar Windows environment. Basic
Windows skills and knowledge are required. CRS Data Solutions provides
direct lifetime support (at reasonable levels) to each user to help
you get up and going. There is also a 30-Day Money Back Guarantee, so
there's no risk!
Focus your time,
efforts and resources on those properties with "real" equity
in them.
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