WHERE IS JOCELYN WHITE? (DIGGING FORECLOSURES)

Jocelyn is working for Jeremy Louder in marketing at DFW Luxury Property, Monarch Vision and Benchmark Mortgage. Had lunch with this sharp young man today and learned all about his unique, one-of-a kind company. If you salivate over the word “foreclosure,” read on.

Dallas is a hot spot for real estate, Louder says, but his heart is in the foreclosure market here–notably luxury foreclosures, half a million plus properties most investors won’t touch. There were 33,000 foreclosures in Dallas last year and Jeremy pours over them with a fine tooth comb. If he likes, his company buys (the investor side is called Monarch Vision Investment Group) and then his mortgage company works with the home buyers to aggressively find the very best financing possible, with contacts from Jeremy’s seven years as a mortgage broker. The St. Louis native loves analogies:

“If Mercedes Benz told us tomorrow that they were only going to sell cars and offer no financing, no lease deals, nothing but pure sales, their business would dry up overnight,” Louder says.

Selling is only part of the total real estate equation, he says. Most Realtors are stuck in this “selling” mode and offer little or no help with financing, credit repair, financial planning. He has teamed up with a host of experts in these areas–even a full-time real estate attorney. Which is very helpful for his clients. Did you know, for example, that Dallas has some of the lowest credit scores in the nation? That folks in the $500,000 to $1,000,000 annual salary range often have lower credit scores than those in the zero to $100,000 range? (Why? They take more risk to make money.)

He’s not talking sub primes, but Louder says that when it comes to a mortgage, every buyer needs to have them tailor-made to fit their financial lifestyle and needs. A 30 year fixed, he says, is often like insuring a $10,000 car for $100,000–just overkill and a waste of cash flow.

Like I said, this guy really loves analogies.